Peloton Interactive (NASDAQ:PTON) Rating Increased to Buy at Argus

Argus upgraded shares of Peloton Interactive (NASDAQ:PTON) from a hold rating to a buy rating in a research note released on Tuesday morning, Marketbeat.com reports. The brokerage currently has $15.00 price objective on the stock.

Several other research analysts have also commented on the company. Truist Financial boosted their price target on Peloton Interactive from $6.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Macquarie reissued a “neutral” rating and set a $9.00 price target on shares of Peloton Interactive in a research report on Monday. UBS Group upgraded shares of Peloton Interactive from a “sell” rating to a “neutral” rating and raised their price target for the company from $2.50 to $10.00 in a report on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a research note on Thursday, February 6th. Finally, BMO Capital Markets raised their target price on shares of Peloton Interactive from $6.50 to $8.50 and gave the company a “market perform” rating in a research note on Monday, November 4th. Sixteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $8.38.

Peloton Interactive Price Performance

NASDAQ:PTON opened at $8.74 on Tuesday. Peloton Interactive has a 1-year low of $2.70 and a 1-year high of $10.90. The company has a 50-day moving average of $8.90 and a 200 day moving average of $6.71. The firm has a market cap of $3.33 billion, a PE ratio of -11.35 and a beta of 1.95.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.04). Sell-side analysts anticipate that Peloton Interactive will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Karen Boone sold 16,925 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $9.64, for a total transaction of $163,157.00. Following the sale, the chief executive officer now directly owns 228,217 shares of the company’s stock, valued at $2,200,011.88. This trade represents a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Saqib Baig sold 36,776 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $7.53, for a total value of $276,923.28. Following the completion of the transaction, the chief accounting officer now directly owns 137,357 shares of the company’s stock, valued at $1,034,298.21. The trade was a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 395,813 shares of company stock worth $3,041,724. 1.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Peloton Interactive

Several institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC grew its position in Peloton Interactive by 689.6% during the second quarter. AQR Capital Management LLC now owns 123,736 shares of the company’s stock valued at $418,000 after buying an additional 108,065 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Peloton Interactive by 253.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 181,589 shares of the company’s stock valued at $614,000 after acquiring an additional 130,242 shares during the period. Cubist Systematic Strategies LLC increased its stake in shares of Peloton Interactive by 99.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 56,208 shares of the company’s stock valued at $190,000 after purchasing an additional 28,070 shares in the last quarter. nVerses Capital LLC raised its holdings in Peloton Interactive by 57.1% in the 3rd quarter. nVerses Capital LLC now owns 30,000 shares of the company’s stock worth $140,000 after purchasing an additional 10,900 shares during the period. Finally, Kohmann Bosshard Financial Services LLC boosted its position in Peloton Interactive by 50.0% during the third quarter. Kohmann Bosshard Financial Services LLC now owns 15,000 shares of the company’s stock worth $70,000 after purchasing an additional 5,000 shares in the last quarter. 77.01% of the stock is owned by hedge funds and other institutional investors.

About Peloton Interactive

Peloton Interactive, Inc operates interactive fitness platform in North America and internationally. The company offers connected fitness products with touchscreen that streams live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread, Peloton Tread+, Peloton Guide, and Peloton Row names.