Peloton Interactive (NASDAQ:PTON) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Peloton Interactive (NASDAQ:PTON) from a hold rating to a buy rating in a report published on Friday morning, MarketBeat.com reports. They currently have $10.00 price objective on the stock.

PTON has been the topic of a number of other research reports. Macquarie reaffirmed a “neutral” rating and issued a $9.00 price objective on shares of Peloton Interactive in a research report on Monday, February 10th. Argus upgraded 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. JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a research report on Friday, February 7th. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a research note on Thursday, February 6th. Finally, The Goldman Sachs Group increased their price objective on shares of Peloton Interactive from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Fifteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Peloton Interactive has an average rating of “Hold” and a consensus price target of $8.69.

Peloton Interactive Stock Up 16.1 %

Shares of PTON stock opened at $7.05 on Friday. The company’s 50 day moving average is $8.12 and its 200 day moving average is $7.45. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of -9.16 and a beta of 1.95. Peloton Interactive has a 52-week low of $2.70 and a 52-week high of $10.90.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.04). Analysts anticipate that Peloton Interactive will post -0.36 EPS for the current fiscal year.

Insider Buying and Selling at Peloton Interactive

In related news, insider Andrew S. Rendich sold 121,883 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $9.54, for a total transaction of $1,162,763.82. Following the sale, the insider now directly owns 404,188 shares of the company’s stock, valued at $3,855,953.52. This trade represents a 23.17 % 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, insider Jennifer Cunningham Cotter sold 187,238 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $6.45, for a total value of $1,207,685.10. Following the completion of the transaction, the insider now directly owns 100,269 shares of the company’s stock, valued at $646,735.05. The trade was a 65.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 584,719 shares of company stock worth $4,958,301. Insiders own 1.34% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in shares of Peloton Interactive during the 4th quarter valued at about $28,000. Russell Investments Group Ltd. grew its holdings in Peloton Interactive by 969.6% in the fourth quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company’s stock valued at $35,000 after purchasing an additional 3,636 shares during the period. Comerica Bank increased its position in shares of Peloton Interactive by 29.1% in the fourth quarter. Comerica Bank now owns 6,164 shares of the company’s stock valued at $54,000 after buying an additional 1,389 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Peloton Interactive by 31.9% during the 3rd 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 period. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Peloton Interactive during the 4th quarter valued at approximately $69,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.

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.