Bank of America Cuts Peloton Interactive (NASDAQ:PTON) Price Target to $9.50

Peloton Interactive (NASDAQ:PTON) had its price objective cut by Bank of America from $11.50 to $9.50 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently commented on PTON. Canaccord Genuity Group upgraded Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Friday, March 14th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $11.00 price objective on shares of Peloton Interactive in a research note on Monday, February 3rd. The Goldman Sachs Group upped their target price on Peloton Interactive from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Macquarie restated a “neutral” rating and set a $9.00 price objective on shares of Peloton Interactive in a research report on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft raised Peloton Interactive from a “hold” rating to a “buy” rating and set a $6.60 price objective on the stock in a report on Monday. Fifteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Peloton Interactive currently has a consensus rating of “Hold” and an average price target of $8.54.

Peloton Interactive Stock Down 4.1 %

Shares of Peloton Interactive stock opened at $5.39 on Tuesday. The company has a market cap of $2.10 billion, a PE ratio of -7.00 and a beta of 2.21. The business has a 50 day moving average price of $6.92 and a 200-day moving average price of $7.64. Peloton Interactive has a 52 week low of $2.70 and a 52 week high of $10.90.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.04). As a group, research analysts anticipate that Peloton Interactive will post -0.36 EPS for the current year.

Insider Activity at Peloton Interactive

In other news, CFO Elizabeth F. Coddington sold 170,819 shares of Peloton Interactive stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $9.62, for a total transaction of $1,643,278.78. Following the completion of the transaction, the chief financial officer now directly owns 275,212 shares in the company, valued at approximately $2,647,539.44. This trade represents a 38.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Saqib Baig sold 22,662 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $9.75, for a total value of $220,954.50. Following the completion of the sale, the chief accounting officer now directly owns 130,031 shares in the company, valued at approximately $1,267,802.25. This represents a 14.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 674,338 shares of company stock worth $5,522,838 over the last quarter. Corporate insiders own 1.34% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. R Squared Ltd bought a new stake in shares of Peloton Interactive in the 4th quarter worth $28,000. Russell Investments Group Ltd. boosted its holdings in shares of Peloton Interactive by 969.6% in the fourth quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company’s stock worth $35,000 after buying an additional 3,636 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Peloton Interactive in the 1st quarter worth $37,000. GAMMA Investing LLC lifted its position in shares of Peloton Interactive by 1,082.5% during the 1st quarter. GAMMA Investing LLC now owns 8,159 shares of the company’s stock valued at $52,000 after buying an additional 7,469 shares in the last quarter. Finally, Comerica Bank lifted its holdings in Peloton Interactive by 29.1% during the fourth quarter. Comerica Bank now owns 6,164 shares of the company’s stock valued at $54,000 after purchasing an additional 1,389 shares in the last quarter. 77.01% of the stock is owned by hedge funds and other 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.