Peloton Interactive (NASDAQ:PTON) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Peloton Interactive (NASDAQ:PTON) from a hold rating to a buy rating in a report released on Friday, Marketbeat reports. They currently have $10.00 price target on the stock.

PTON has been the subject of a number of other research reports. Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a report on Thursday, February 6th. Citigroup cut their price target on Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Argus raised Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Tuesday, February 11th. Macquarie reaffirmed a “neutral” rating and issued a $9.00 target price on shares of Peloton Interactive in a research note on Monday, February 10th. Finally, UBS Group raised shares of Peloton Interactive from a “sell” rating to a “neutral” rating and boosted their price target for the company from $2.50 to $10.00 in a research report on Friday, December 6th. Fifteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.69.

Peloton Interactive Price Performance

Shares of NASDAQ:PTON opened at $7.05 on Friday. Peloton Interactive has a 1 year low of $2.70 and a 1 year high of $10.90. The firm has a market capitalization of $2.75 billion, a PE ratio of -9.16 and a beta of 1.95. The business’s 50 day moving average price is $8.12 and its 200-day moving average price is $7.45.

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

Insider Activity at Peloton Interactive

In related news, insider Jennifer Cunningham Cotter sold 187,238 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $6.45, for a total transaction of $1,207,685.10. Following the completion of the transaction, the insider now directly owns 100,269 shares in the company, valued at $646,735.05. This trade represents a 65.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Saqib Baig sold 22,662 shares of Peloton Interactive stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.75, for a total value of $220,954.50. Following the completion of the transaction, the chief accounting officer now directly owns 130,031 shares of the company’s stock, 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. In the last quarter, insiders sold 584,719 shares of company stock worth $4,958,301. Insiders own 1.34% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

Hedge funds have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Peloton Interactive in the third quarter worth $5,724,000. Gtcr LLC acquired a new position in shares of Peloton Interactive during the third quarter worth about $65,520,000. Two Sigma Advisers LP lifted its stake in Peloton Interactive by 2.9% in the third quarter. Two Sigma Advisers LP now owns 7,440,900 shares of the company’s stock worth $34,823,000 after acquiring an additional 206,500 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Peloton Interactive during the 4th quarter worth approximately $360,000. Finally, Versor Investments LP purchased a new stake in shares of Peloton Interactive in the 3rd quarter valued at approximately $415,000. 77.01% of the stock is currently owned by institutional investors and hedge funds.

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.