Citigroup Cuts Peloton Interactive (NASDAQ:PTON) Price Target to $10.00

Peloton Interactive (NASDAQ:PTON) had its target price trimmed by Citigroup from $11.00 to $10.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other brokerages also recently weighed in on PTON. Bank of America upgraded Peloton Interactive from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $3.75 to $9.00 in a research report on Monday, November 4th. Truist Financial upped their price objective on Peloton Interactive from $6.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. UBS Group upgraded Peloton Interactive from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $2.50 to $10.00 in a research report on Friday, December 6th. Robert W. Baird upped their price objective on Peloton Interactive from $4.75 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Telsey Advisory Group restated a “market perform” rating and set a $11.00 price objective on shares of Peloton Interactive in a research report on Monday, February 3rd. Sixteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $8.38.

Peloton Interactive Stock Performance

NASDAQ:PTON opened at $9.18 on Monday. The stock has a fifty day moving average price of $8.88 and a 200-day moving average price of $6.75. The company has a market cap of $3.50 billion, a price-to-earnings ratio of -11.92 and a beta of 1.95. Peloton Interactive has a fifty-two week low of $2.70 and a fifty-two week high of $10.90.

Peloton Interactive (NASDAQ:PTON) last released its earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). Research analysts predict that Peloton Interactive will post -0.39 EPS for the current fiscal year.

Insider Activity

In other news, CEO Karen Boone sold 16,925 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $9.64, for a total value of $163,157.00. Following the completion of the sale, the chief executive officer now owns 228,217 shares of the company’s stock, valued at approximately $2,200,011.88. This represents a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Andrew S. Rendich sold 138,391 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $7.51, for a total value of $1,039,316.41. Following the sale, the insider now directly owns 287,973 shares of the company’s stock, valued at $2,162,677.23. This represents a 32.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 395,813 shares of company stock valued at $3,041,724. Company insiders own 1.34% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

Several large investors have recently added to or reduced their stakes in PTON. AQR Capital Management LLC grew its stake in Peloton Interactive by 689.6% during the second quarter. AQR Capital Management LLC now owns 123,736 shares of the company’s stock worth $418,000 after purchasing an additional 108,065 shares during the period. The Manufacturers Life Insurance Company grew its stake in Peloton Interactive by 253.7% during the second quarter. The Manufacturers Life Insurance Company now owns 181,589 shares of the company’s stock worth $614,000 after purchasing an additional 130,242 shares during the period. Cubist Systematic Strategies LLC grew its stake in Peloton Interactive by 99.8% during the second quarter. Cubist Systematic Strategies LLC now owns 56,208 shares of the company’s stock worth $190,000 after purchasing an additional 28,070 shares during the period. Wedmont Private Capital acquired a new stake in Peloton Interactive during the third quarter worth approximately $77,000. Finally, nVerses Capital LLC grew its stake in Peloton Interactive by 57.1% during the third quarter. nVerses Capital LLC now owns 30,000 shares of the company’s stock worth $140,000 after purchasing an additional 10,900 shares during the period. Institutional investors and hedge funds 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.