Peloton Interactive (NASDAQ:PTON) Stock Gets Price Target Reduction from The Goldman Sachs Group

Peloton Interactive (NASDAQ:PTON) had its target price cut by The Goldman Sachs Group from $7.50 to $6.50 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. UBS Group dropped their price objective on Peloton Interactive from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, September 8th. Telsey Advisory Group reiterated a “market perform” rating on shares of Peloton Interactive in a research note on Monday, August 3rd. Weiss Ratings upgraded shares of Peloton Interactive from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 2nd. Finally, Morgan Stanley downgraded shares of Peloton Interactive from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $5.00 to $4.50 in a report on Tuesday, September 8th. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.56.

Peloton Interactive Stock Down 0.6%

Shares of Peloton Interactive stock opened at $5.27 on Monday. The company has a market cap of $2.31 billion, a PE ratio of 43.92, a price-to-earnings-growth ratio of 0.42 and a beta of 2.54. Peloton Interactive has a 52 week low of $3.65 and a 52 week high of $7.92. The business has a 50 day moving average price of $5.14 and a 200-day moving average price of $5.25.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. Peloton Interactive had a negative return on equity of 23.92% and a net margin of 2.58%. The company had revenue of $607.70 million for the quarter, compared to analysts’ expectations of $596.60 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. Peloton Interactive’s quarterly revenue was up .1% on a year-over-year basis. As a group, research analysts anticipate that Peloton Interactive will post 0.31 EPS for the current year.

Insiders Place Their Bets

In other news, COO Charles Kirol sold 28,849 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $5.33, for a total value of $153,765.17. Following the completion of the transaction, the chief operating officer directly owned 197,334 shares of the company’s stock, valued at $1,051,790.22. This represents a 12.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Dion C. Sanders sold 112,512 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $5.45, for a total value of $613,190.40. Following the sale, the insider directly owned 18,801 shares of the company’s stock, valued at $102,465.45. The trade was a 85.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 217,712 shares of company stock worth $1,177,289 over the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Peloton Interactive

A number of hedge funds have recently bought and sold shares of the business. Pale Fire Capital SE bought a new stake in shares of Peloton Interactive in the first quarter valued at $26,746,000. Technology Crossover Management IX Ltd. bought a new position in shares of Peloton Interactive during the 2nd quarter worth $21,727,601. Kanen Wealth Management LLC bought a new position in shares of Peloton Interactive during the 1st quarter worth $7,560,000. Bastion Asset Management Inc. bought a new position in shares of Peloton Interactive during the 1st quarter worth $7,020,000. Finally, Walleye Capital LLC grew its stake in shares of Peloton Interactive by 703.6% during the 1st quarter. Walleye Capital LLC now owns 1,423,719 shares of the company’s stock worth $6,108,000 after acquiring an additional 1,246,557 shares during the period. 77.01% of the stock is currently owned by institutional investors.

About Peloton Interactive

Peloton Interactive, Inc is a connected-fitness company that combines exercise equipment, digital content and subscription services. Its product portfolio includes the Peloton Bike, Bike+, Tread treadmill, Row rowing machine and related accessories, apparel and fitness products. The company’s equipment is designed to connect users with live and on-demand instructor-led workouts through integrated screens and digital platforms.

Peloton offers subscription memberships that provide access to classes in cycling, running, strength training, yoga, meditation, rowing and other fitness disciplines.