Peloton Interactive (NASDAQ:PTON) Receives Market Perform Rating from JMP Securities

JMP Securities restated their market perform rating on shares of Peloton Interactive (NASDAQ:PTON - Free Report) in a research note published on Monday,Benzinga reports.

PTON has been the subject of several other reports. Argus upgraded shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $15.00 price objective for the company in a report on Tuesday, February 11th. Macquarie reissued a "neutral" rating and set a $9.00 price target on shares of Peloton Interactive in a report on Monday, February 10th. Canaccord Genuity Group raised Peloton Interactive from a "hold" rating to a "buy" rating and set a $10.00 price objective on the stock in a report on Friday, March 14th. Citigroup reduced their price objective on Peloton Interactive from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Monday, February 10th. Finally, Telsey Advisory Group reissued a "market perform" rating and set a $11.00 target price on shares of Peloton Interactive in a research report on Monday, February 3rd. Fifteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $8.54.

Peloton Interactive Price Performance

Shares of PTON traded down $0.23 during trading hours on Monday, hitting $5.39. The company's stock had a trading volume of 14,905,086 shares, compared to its average volume of 16,072,421. The business has a 50 day simple moving average of $6.92 and a two-hundred day simple moving average of $7.64. Peloton Interactive has a 52-week low of $2.70 and a 52-week high of $10.90. The company has a market cap of $2.10 billion, a price-to-earnings ratio of -7.00 and a beta of 2.21.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.04). Research analysts predict that Peloton Interactive will post -0.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Andrew S. Rendich sold 121,883 shares of Peloton Interactive stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.54, for a total transaction of $1,162,763.82. Following the transaction, the insider now owns 404,188 shares in the company, valued at approximately $3,855,953.52. The trade was a 23.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Saqib Baig sold 22,662 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $9.75, for a total transaction of $220,954.50. Following the completion of the transaction, the chief accounting officer now owns 130,031 shares in the company, valued at $1,267,802.25. This represents a 14.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 674,338 shares of company stock worth $5,522,838. Corporate insiders own 1.34% of the company's stock.

Hedge Funds Weigh In On Peloton Interactive

Several large investors have recently added to or reduced their stakes in PTON. FNY Investment Advisers LLC bought a new position in shares of Peloton Interactive in the first quarter worth $37,000. Wealth Enhancement Advisory Services LLC grew its stake in Peloton Interactive by 385.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 60,476 shares of the company's stock valued at $382,000 after acquiring an additional 48,023 shares in the last quarter. Matauro LLC lifted its position in shares of Peloton Interactive by 213.6% in the first quarter. Matauro LLC now owns 32,496 shares of the company's stock worth $205,000 after purchasing an additional 22,135 shares in the last quarter. Handelsbanken Fonder AB increased its stake in Peloton Interactive by 25.8% in the 1st quarter. Handelsbanken Fonder AB now owns 88,700 shares of the company's stock valued at $561,000 after buying an additional 18,200 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Peloton Interactive by 689.7% in the first quarter. SG Americas Securities LLC now owns 117,888 shares of the company's stock worth $745,000 after acquiring an additional 102,959 shares during the last quarter. 77.01% of the stock is currently owned by institutional investors.

Peloton Interactive Company Profile

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.