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

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

Other equities research analysts have also issued research reports about the stock. Argus raised shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Tuesday, February 11th. Canaccord Genuity Group raised shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Friday, March 14th. The Goldman Sachs Group lifted their price objective on Peloton Interactive from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. decreased their price target on Peloton Interactive from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Fifteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Peloton Interactive presently has an average rating of “Hold” and a consensus target price of $8.59.

Peloton Interactive Stock Performance

NASDAQ PTON opened at $5.73 on Tuesday. Peloton Interactive has a twelve month low of $2.70 and a twelve month high of $10.90. The stock has a market cap of $2.23 billion, a PE ratio of -7.44 and a beta of 2.21. The firm has a 50-day simple moving average of $7.04 and a 200 day simple moving average of $7.65.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). Research analysts forecast that Peloton Interactive will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Andrew S. Rendich sold 121,883 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now owns 404,188 shares in the company, valued at $3,855,953.52. The trade was a 23.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Saqib Baig sold 22,662 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $9.75, for a total value of $220,954.50. Following the transaction, the chief accounting officer now directly owns 130,031 shares in the company, valued at $1,267,802.25. This trade represents a 14.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 674,338 shares of company stock worth $5,522,838 in the last quarter. Insiders own 1.34% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

Institutional investors and hedge funds have recently modified their holdings of the business. Y Intercept Hong Kong Ltd acquired a new stake in Peloton Interactive during the 4th quarter worth $360,000. Rhumbline Advisers grew its stake in shares of Peloton Interactive by 7.8% during the fourth quarter. Rhumbline Advisers now owns 479,134 shares of the company’s stock worth $4,168,000 after purchasing an additional 34,514 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Peloton Interactive by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,136,182 shares of the company’s stock valued at $35,985,000 after purchasing an additional 139,826 shares during the last quarter. Franklin Resources Inc. acquired a new position in Peloton Interactive in the third quarter valued at about $505,000. Finally, Raymond James Financial Inc. bought a new position in Peloton Interactive during the fourth quarter worth about $1,158,000. 77.01% of the stock is owned by institutional investors.

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.