Peloton Interactive (NASDAQ:PTON) Cut to “Hold” at Argus

Argus downgraded shares of Peloton Interactive (NASDAQ:PTON) from a buy rating to a hold rating in a report published on Tuesday morning, Marketbeat reports.

PTON has been the topic of several other reports. Morgan Stanley increased their target price on Peloton Interactive from $6.00 to $6.50 and gave the company an “equal weight” rating in a research note on Wednesday, November 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Peloton Interactive in a research note on Friday, January 9th. Macquarie Infrastructure increased their price objective on Peloton Interactive from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th. Truist Financial reduced their price objective on Peloton Interactive from $12.00 to $9.00 and set a “buy” rating for the company in a report on Friday, February 6th. Finally, Bank of America set a $9.00 target price on Peloton Interactive in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.42.

Peloton Interactive Price Performance

Shares of Peloton Interactive stock opened at $4.23 on Tuesday. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of -32.54, a PEG ratio of 0.88 and a beta of 2.41. The firm’s 50-day moving average is $6.01 and its 200 day moving average is $7.02. Peloton Interactive has a 1 year low of $4.09 and a 1 year high of $10.25.

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 for the quarter, compared to analyst estimates of $675.04 million. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.24) EPS. On average, equities analysts expect that Peloton Interactive will post -0.36 EPS for the current fiscal year.

Insider Activity at Peloton Interactive

In related news, CFO Elizabeth F. Coddington sold 21,820 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $6.31, for a total value of $137,684.20. Following the transaction, the chief financial officer owned 346,535 shares of the company’s stock, valued at approximately $2,186,635.85. This trade represents a 5.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jennifer Cunningham Cotter sold 131,495 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $6.64, for a total transaction of $873,126.80. Following the sale, the insider owned 100,269 shares of the company’s stock, valued at $665,786.16. This trade represents a 56.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,107,129 shares of company stock valued at $7,708,694 in the last 90 days. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. MetLife Investment Management LLC grew its position in shares of Peloton Interactive by 2.4% during the 4th quarter. MetLife Investment Management LLC now owns 219,090 shares of the company’s stock valued at $1,350,000 after acquiring an additional 5,086 shares during the period. Cibc World Markets Corp purchased a new position in Peloton Interactive during the fourth quarter valued at $161,000. Dimensional Fund Advisors LP grew its holdings in Peloton Interactive by 8.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 112,706 shares of the company’s stock valued at $694,000 after purchasing an additional 8,379 shares during the period. Federated Hermes Inc. increased its position in Peloton Interactive by 114.2% in the fourth quarter. Federated Hermes Inc. now owns 181,443 shares of the company’s stock worth $1,118,000 after buying an additional 96,747 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in Peloton Interactive by 624.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 32,092 shares of the company’s stock worth $198,000 after buying an additional 27,665 shares in the last quarter. Hedge funds and other institutional investors own 77.01% of the company’s stock.

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.