Peloton Interactive (NASDAQ:PTON) Given Hold Rating at Needham & Company LLC

Peloton Interactive (NASDAQ:PTON - Get Free Report)'s stock had its "hold" rating reiterated by Needham & Company LLC in a report issued on Friday,Benzinga reports.

PTON has been the topic of several other research reports. Bank of America lowered their price target on shares of Peloton Interactive from $11.50 to $9.50 and set a "buy" rating on the stock in a report on Tuesday, April 15th. The Goldman Sachs Group boosted their target price on shares of Peloton Interactive from $8.00 to $10.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Truist Financial raised shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $11.00 target price for the company in a research note on Monday, April 28th. Morgan Stanley lowered their price objective on shares of Peloton Interactive from $5.75 to $4.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Peloton Interactive from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Fourteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Peloton Interactive presently has a consensus rating of "Hold" and an average price target of $8.30.

Peloton Interactive Trading Up 7.8%

NASDAQ:PTON traded up $0.48 on Friday, reaching $6.64. 19,301,650 shares of the stock traded hands, compared to its average volume of 15,625,884. The company's fifty day simple moving average is $6.20 and its 200 day simple moving average is $7.82. Peloton Interactive has a 12 month low of $2.83 and a 12 month high of $10.90. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of -8.62 and a beta of 2.25.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.06). The firm had revenue of $624.00 million for the quarter, compared to analysts' expectations of $620.39 million. The firm's revenue for the quarter was down 13.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.45) EPS. Equities analysts anticipate that Peloton Interactive will post -0.36 EPS for the current fiscal year.

Insider Activity

In related news, CAO Saqib Baig sold 22,662 shares of the firm's stock in a transaction dated 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 sale, the chief accounting officer now directly owns 130,031 shares of the company's stock, valued at approximately $1,267,802.25. This trade represents a 14.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Cunningham Cotter sold 187,238 shares of Peloton Interactive stock in a transaction dated 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 approximately $646,735.05. This represents a 65.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 674,338 shares of company stock worth $5,522,838 in the last quarter. Corporate insiders own 1.34% of the company's stock.

Hedge Funds Weigh In On Peloton Interactive

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Peloton Interactive by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 37,246,652 shares of the company's stock valued at $235,399,000 after buying an additional 2,186,862 shares during the period. T. Rowe Price Investment Management Inc. increased its position in Peloton Interactive by 38.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 16,820,256 shares of the company's stock worth $146,337,000 after buying an additional 4,635,667 shares during the period. DME Capital Management LP increased its stake in Peloton Interactive by 10.4% in the 4th quarter. DME Capital Management LP now owns 10,522,687 shares of the company's stock valued at $91,547,000 after buying an additional 992,797 shares during the period. Hennessy Advisors Inc. acquired a new position in Peloton Interactive in the 4th quarter valued at $85,260,000. Finally, Geode Capital Management LLC grew its holdings in Peloton Interactive by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 8,270,328 shares of the company's stock worth $71,969,000 after acquiring an additional 170,901 shares during the period. 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.