Peloton Interactive (NASDAQ:PTON) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Peloton Interactive (NASDAQ:PTON) from a buy rating to a hold rating in a report issued on Saturday.

PTON has been the subject of a number of other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Peloton Interactive in a report on Friday, January 9th. Argus lowered shares of Peloton Interactive from a “buy” rating to a “hold” rating in a report on Tuesday, February 10th. Macquarie Infrastructure upped their price objective on shares of Peloton Interactive from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th. Bank of America set a $9.00 target price on Peloton Interactive in a report on Friday, January 30th. Finally, Telsey Advisory Group decreased their target price on Peloton Interactive from $8.00 to $6.00 and set a “market perform” rating for the company in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $8.42.

Peloton Interactive Trading Up 0.5%

NASDAQ PTON opened at $4.25 on Friday. Peloton Interactive has a 12 month low of $4.09 and a 12 month high of $10.25. The stock has a 50-day simple moving average of $5.97 and a 200 day simple moving average of $7.01. The company has a market capitalization of $1.78 billion, a PE ratio of -32.69, a P/E/G ratio of 0.87 and a beta of 2.41.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The business had revenue of $656.50 million during the quarter, compared to analysts’ expectations of $675.04 million. The company’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.24) EPS. As a group, sell-side analysts predict that Peloton Interactive will post -0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Elizabeth F. Coddington sold 238,014 shares of Peloton Interactive stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.18, for a total transaction of $1,708,940.52. Following the completion of the transaction, the chief financial officer owned 346,535 shares in the company, valued at approximately $2,488,121.30. This trade represents a 40.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Saqib Baig sold 42,267 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $7.25, for a total value of $306,435.75. Following the transaction, the chief accounting officer directly owned 193,052 shares in the company, valued at approximately $1,399,627. This trade represents a 17.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,107,129 shares of company stock valued at $7,708,694 in the last quarter. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PTON. Vanguard Group Inc. raised its stake in Peloton Interactive by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 39,227,591 shares of the company’s stock valued at $241,642,000 after acquiring an additional 591,300 shares during the period. Eminence Capital LP acquired a new position in shares of Peloton Interactive in the second quarter valued at $112,681,000. DNB Asset Management AS raised its position in shares of Peloton Interactive by 142.4% in the fourth quarter. DNB Asset Management AS now owns 10,776,627 shares of the company’s stock valued at $66,384,000 after purchasing an additional 6,331,510 shares during the period. Geode Capital Management LLC raised its position in shares of Peloton Interactive by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 9,741,115 shares of the company’s stock valued at $60,015,000 after purchasing an additional 369,614 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Peloton Interactive by 27.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,056,642 shares of the company’s stock worth $44,598,000 after buying an additional 1,503,680 shares during the last quarter. 77.01% of the stock is currently owned by institutional investors.

Peloton Interactive Company Profile

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.