Peloton Interactive (NASDAQ:PTON) Receives “Hold” Rating from Needham & Company LLC

Peloton Interactive (NASDAQ:PTON)‘s stock had its “hold” rating restated by analysts at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports.

PTON has been the subject of several other research reports. UBS Group upgraded shares of Peloton Interactive from a “sell” rating to a “neutral” rating and upped their target price for the company from $2.50 to $10.00 in a report on Friday, December 6th. Bank of America upgraded shares of Peloton Interactive from an “underperform” rating to a “buy” rating and upped their price objective for the company from $3.75 to $9.00 in a research note on Monday, November 4th. Macquarie boosted their target price on Peloton Interactive from $4.90 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Sanford C. Bernstein upped their target price on Peloton Interactive from $4.25 to $6.50 and gave the company a “market perform” rating in a research report on Friday, November 1st. Finally, Morgan Stanley lifted their price target on Peloton Interactive from $3.50 to $5.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Sixteen analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $7.10.

Peloton Interactive Price Performance

NASDAQ:PTON opened at $7.58 on Thursday. Peloton Interactive has a 12 month low of $2.70 and a 12 month high of $10.90. The firm has a market capitalization of $2.89 billion, a PE ratio of -7.08 and a beta of 1.95. The business’s fifty day moving average price is $8.99 and its 200 day moving average price is $6.59.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). As a group, equities analysts anticipate that Peloton Interactive will post -0.39 EPS for the current year.

Insider Activity at Peloton Interactive

In related news, Director Karen Boone sold 17,259 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $8.63, for a total transaction of $148,945.17. Following the transaction, the director now owns 244,641 shares of the company’s stock, valued at approximately $2,111,251.83. This represents a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Saqib Baig sold 36,776 shares of the business’s stock in a transaction 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 owns 137,357 shares of the company’s stock, valued at $1,034,298.21. This trade represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 395,813 shares of company stock valued at $3,041,724. 1.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Peloton Interactive in the 3rd quarter valued at $5,724,000. Gtcr LLC acquired a new stake in Peloton Interactive during the third quarter worth about $65,520,000. Two Sigma Advisers LP raised its holdings in shares of Peloton Interactive by 2.9% in the 3rd quarter. Two Sigma Advisers LP now owns 7,440,900 shares of the company’s stock worth $34,823,000 after purchasing an additional 206,500 shares during the period. Versor Investments LP acquired a new position in shares of Peloton Interactive in the 3rd quarter valued at about $415,000. Finally, Franklin Resources Inc. acquired a new stake in Peloton Interactive during the 3rd quarter worth approximately $505,000. Institutional investors and hedge funds own 77.01% of the company’s stock.

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.