Peloton Interactive (NASDAQ:PTON) PT Raised to $4.00 at TD Cowen

Peloton Interactive (NASDAQ:PTON) had its price target upped by stock analysts at TD Cowen from $3.00 to $4.00 in a report released on Friday, Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price objective points to a potential downside of 12.09% from the company’s current price.

Other analysts also recently issued reports about the company. Robert W. Baird lifted their price target on Peloton Interactive from $3.50 to $4.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Telsey Advisory Group lifted their price target on Peloton Interactive from $4.00 to $5.00 and gave the stock a “market perform” rating in a report on Friday. Wolfe Research began coverage on Peloton Interactive in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a research report on Thursday. Finally, Macquarie reaffirmed a “neutral” rating and set a $2.53 price objective on shares of Peloton Interactive in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $4.71.

Peloton Interactive Trading Up 35.4 %

NASDAQ:PTON opened at $4.55 on Friday. The firm has a market cap of $1.69 billion, a PE ratio of -2.16 and a beta of 2.02. The stock has a fifty day moving average price of $3.46 and a 200 day moving average price of $3.77. Peloton Interactive has a 12-month low of $2.70 and a 12-month high of $7.24.

Peloton Interactive (NASDAQ:PTON) last released its earnings results on Thursday, August 22nd. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.10. The company had revenue of $644.00 million during the quarter, compared to analysts’ expectations of $633.00 million. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the business posted ($0.68) earnings per share. Equities analysts forecast that Peloton Interactive will post -1.63 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Karen Boone sold 14,841 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $3.31, for a total transaction of $49,123.71. Following the transaction, the chief executive officer now directly owns 116,171 shares in the company, valued at approximately $384,526.01. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Karen Boone sold 14,841 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $3.31, for a total value of $49,123.71. Following the transaction, the chief executive officer now owns 116,171 shares in the company, valued at $384,526.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Chris Bruzzo sold 14,936 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $3.62, for a total transaction of $54,068.32. Following the completion of the transaction, the chief executive officer now owns 38,680 shares in the company, valued at approximately $140,021.60. The disclosure for this sale can be found here. Insiders have sold 53,813 shares of company stock valued at $187,715 in the last ninety days. Insiders own 3.28% of the company’s stock.

Institutional Trading of Peloton Interactive

A number of hedge funds have recently made changes to their positions in PTON. DME Capital Management LP purchased a new stake in shares of Peloton Interactive during the second quarter valued at approximately $22,947,000. Capital World Investors raised its stake in shares of Peloton Interactive by 17.6% during the fourth quarter. Capital World Investors now owns 26,259,325 shares of the company’s stock valued at $159,919,000 after purchasing an additional 3,925,000 shares during the period. DNB Asset Management AS raised its stake in shares of Peloton Interactive by 42.4% during the second quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock valued at $40,880,000 after purchasing an additional 3,611,069 shares during the period. Norges Bank purchased a new stake in shares of Peloton Interactive during the fourth quarter valued at approximately $20,824,000. Finally, Clearline Capital LP purchased a new stake in shares of Peloton Interactive during the second quarter valued at approximately $7,527,000. Hedge funds and other institutional investors 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.