Peloton Interactive (NASDAQ:PTON) Lowered to Hold Rating by Argus

Argus lowered shares of Peloton Interactive (NASDAQ:PTON) from a buy rating to a hold rating in a research report released on Tuesday, MarketBeat.com reports.

Other research analysts have also recently issued reports about the company. Macquarie Infrastructure lifted their price objective on Peloton Interactive from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Tuesday, November 11th. Citigroup cut their price target on shares of Peloton Interactive from $9.50 to $8.25 and set a “neutral” rating for the company in a report on Thursday, November 20th. Wolfe Research set a $9.00 price objective on shares of Peloton Interactive in a research note on Friday, January 30th. Morgan Stanley lifted their target price on shares of Peloton Interactive from $6.00 to $6.50 and gave the company an “equal weight” rating in a research note on Wednesday, November 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Peloton Interactive in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Peloton Interactive currently has a consensus rating of “Hold” and a consensus target price of $8.78.

Peloton Interactive Stock Down 1.4%

NASDAQ:PTON opened at $4.34 on Tuesday. The firm has a market capitalization of $1.81 billion, a PE ratio of -33.38, a price-to-earnings-growth ratio of 0.99 and a beta of 2.41. Peloton Interactive has a 12-month low of $4.09 and a 12-month high of $10.25. The firm has a 50-day moving average price of $6.11 and a 200 day moving average price of $7.06.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, February 5th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The business had revenue of $656.50 million during the quarter, compared to the consensus estimate of $675.04 million. During the same quarter last year, the firm earned ($0.24) earnings per share. The company’s quarterly revenue was down 2.5% on a year-over-year basis. On average, research analysts expect that Peloton Interactive will post -0.36 EPS for the current year.

Insider Buying and Selling

In other news, CFO Elizabeth F. Coddington sold 21,820 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $6.31, for a total transaction of $137,684.20. Following the transaction, the chief financial officer owned 346,535 shares of the company’s stock, valued at $2,186,635.85. This represents a 5.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nick V. Caldwell sold 25,135 shares of Peloton Interactive stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $7.00, for a total value of $175,945.00. Following the completion of the sale, the insider owned 739,085 shares of the company’s stock, valued at approximately $5,173,595. The trade was a 3.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,107,129 shares of company stock worth $7,708,694. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PTON. AXQ Capital LP increased its holdings in Peloton Interactive by 63.1% in the fourth quarter. AXQ Capital LP now owns 26,236 shares of the company’s stock valued at $162,000 after purchasing an additional 10,153 shares during the last quarter. Norges Bank bought a new stake in shares of Peloton Interactive in the 4th quarter valued at about $23,796,000. Jupiter Asset Management Ltd. increased its stake in shares of Peloton Interactive by 18.3% in the 4th quarter. Jupiter Asset Management Ltd. now owns 1,849,503 shares of the company’s stock valued at $11,393,000 after acquiring an additional 286,254 shares during the last quarter. Intech Investment Management LLC raised its position in shares of Peloton Interactive by 15.6% in the 4th quarter. Intech Investment Management LLC now owns 143,992 shares of the company’s stock valued at $887,000 after acquiring an additional 19,393 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Peloton Interactive by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 9,741,115 shares of the company’s stock worth $60,015,000 after purchasing an additional 369,614 shares in the last quarter. 77.01% of the stock is currently owned by institutional investors.

About Peloton Interactive

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.