Telsey Advisory Group Reiterates Market Perform Rating for Peloton Interactive (NASDAQ:PTON)

Peloton Interactive (NASDAQ:PTON)‘s stock had its “market perform” rating reissued by analysts at Telsey Advisory Group in a report released on Monday,Benzinga reports. They currently have a $11.00 target price on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 50.48% from the company’s previous close.

A number of other analysts have also issued reports on the company. JPMorgan Chase & Co. lifted their price target on Peloton Interactive from $5.00 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Sanford C. Bernstein boosted their price objective on Peloton Interactive from $4.25 to $6.50 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a research report on Friday, November 1st. Robert W. Baird raised their price target on shares of Peloton Interactive from $4.75 to $8.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Macquarie increased their price target on Peloton Interactive from $4.90 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Sixteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Peloton Interactive currently has an average rating of “Hold” and an average price target of $7.10.

Peloton Interactive Stock Down 0.1 %

PTON opened at $7.31 on Monday. The company has a market cap of $2.79 billion, a price-to-earnings ratio of -6.83 and a beta of 1.95. Peloton Interactive has a 52-week low of $2.70 and a 52-week high of $10.90. The firm’s fifty day simple moving average is $9.08 and its two-hundred day simple moving average is $6.55.

Insider Transactions at Peloton Interactive

In related news, insider Andrew S. Rendich sold 138,391 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $7.51, for a total value of $1,039,316.41. Following the completion of the sale, the insider now directly owns 287,973 shares of the company’s stock, valued at $2,162,677.23. The trade was a 32.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elizabeth F. Coddington sold 186,462 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $7.58, for a total value of $1,413,381.96. Following the transaction, the chief financial officer now directly owns 223,017 shares in the company, valued at approximately $1,690,468.86. The trade was a 45.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 395,813 shares of company stock valued at $3,041,724. 1.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Peloton Interactive

A number of hedge funds have recently modified their holdings of PTON. R Squared Ltd purchased a new position in Peloton Interactive during the 4th quarter worth $28,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Peloton Interactive by 31.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock worth $31,000 after buying an additional 1,597 shares during the last quarter. Verdence Capital Advisors LLC acquired a new position in Peloton Interactive in the 3rd quarter valued at about $52,000. Ballentine Partners LLC purchased a new stake in Peloton Interactive during the 3rd quarter valued at approximately $55,000. Finally, Sanctuary Advisors LLC acquired a new stake in Peloton Interactive during the 3rd quarter worth approximately $58,000. 77.01% of the stock is currently 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.