Peloton Interactive (NASDAQ:PTON) Downgraded to “Market Perform” at Sanford C. Bernstein

Sanford C. Bernstein lowered shares of Peloton Interactive (NASDAQ:PTON) from an outperform rating to a market perform rating in a research report released on Friday, MarketBeat.com reports. They currently have $3.80 price target on the stock, down from their previous price target of $8.00.

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group cut their price target on shares of Peloton Interactive from $6.50 to $5.75 and set a neutral rating on the stock in a report on Friday, February 2nd. Telsey Advisory Group reaffirmed a market perform rating and set a $4.00 price objective (down from $5.00) on shares of Peloton Interactive in a report on Monday, April 29th. Truist Financial dropped their price objective on shares of Peloton Interactive from $7.00 to $6.00 and set a hold rating on the stock in a report on Friday, February 2nd. Morgan Stanley started coverage on shares of Peloton Interactive in a report on Monday, March 11th. They set an equal weight rating and a $3.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Peloton Interactive from $9.00 to $8.00 and set an overweight rating on the stock in a report on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and an average price target of $6.15.

Peloton Interactive Stock Up 9.4 %

PTON stock traded up $0.29 during midday trading on Friday, reaching $3.43. 34,797,791 shares of the company’s stock traded hands, compared to its average volume of 14,415,963. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -1.62 and a beta of 2.01. The firm’s fifty day moving average price is $3.93 and its 200-day moving average price is $4.87. Peloton Interactive has a 52 week low of $2.70 and a 52 week high of $9.87.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The business had revenue of $717.70 million for the quarter, compared to analysts’ expectations of $720.85 million. Peloton Interactive’s revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.79) earnings per share. Analysts forecast that Peloton Interactive will post -1.61 earnings per share for the current year.

Insider Buying and Selling

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $4.34, for a total value of $38,960.18. Following the completion of the sale, the chief financial officer now owns 104,428 shares of the company’s stock, valued at $453,217.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.28% of the stock is owned by company insiders.

Institutional Trading of Peloton Interactive

A number of institutional investors have recently made changes to their positions in PTON. Vanguard Group Inc. increased its holdings in shares of Peloton Interactive by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 30,339,435 shares of the company’s stock valued at $184,767,000 after acquiring an additional 735,658 shares in the last quarter. Capital World Investors increased its holdings in shares of Peloton Interactive by 17.6% during the fourth quarter. Capital World Investors now owns 26,259,325 shares of the company’s stock valued at $159,919,000 after acquiring an additional 3,925,000 shares in the last quarter. DNB Asset Management AS increased its holdings in shares of Peloton Interactive by 31.7% during the fourth quarter. DNB Asset Management AS now owns 8,386,903 shares of the company’s stock valued at $51,076,000 after acquiring an additional 2,020,159 shares in the last quarter. Patient Capital Management LLC increased its holdings in shares of Peloton Interactive by 32.7% during the fourth quarter. Patient Capital Management LLC now owns 6,196,285 shares of the company’s stock valued at $37,735,000 after acquiring an additional 1,527,471 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Peloton Interactive during the fourth quarter valued at $20,824,000. 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.