Peloton Interactive (NASDAQ:PTON) Upgraded at Argus

Peloton Interactive (NASDAQ:PTON) was upgraded by Argus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday,Finviz reports. The brokerage presently has a $15.00 price objective on the stock. Argus’ target price would suggest a potential upside of 75.03% from the stock’s previous close.

Several other equities analysts have also weighed in on PTON. JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a research note on Friday. Bank of America upgraded shares of Peloton Interactive from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $3.75 to $9.00 in a research note on Monday, November 4th. Morgan Stanley raised their target price on shares of Peloton Interactive from $3.50 to $5.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a research report on Thursday, February 6th. Finally, Macquarie reissued a “neutral” rating and issued a $9.00 price objective on shares of Peloton Interactive in a research report on Monday. Sixteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $8.38.

Peloton Interactive Stock Up 2.4 %

PTON opened at $8.57 on Tuesday. The firm has a market cap of $3.27 billion, a P/E ratio of -11.13 and a beta of 1.95. The business’s fifty day simple moving average is $8.92 and its 200 day simple moving average is $6.68. Peloton Interactive has a 52 week low of $2.70 and a 52 week high of $10.90.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly 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). As a group, equities analysts expect that Peloton Interactive will post -0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 186,462 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $7.58, for a total value of $1,413,381.96. Following the transaction, the chief financial officer now owns 223,017 shares of the company’s stock, valued at $1,690,468.86. This trade represents a 45.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Karen Boone sold 16,925 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $9.64, for a total value of $163,157.00. Following the transaction, the chief executive officer now directly owns 228,217 shares of the company’s stock, valued at $2,200,011.88. This trade represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 395,813 shares of company stock valued at $3,041,724 in the last quarter. Insiders own 1.34% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gtcr LLC bought a new stake in Peloton Interactive in the third quarter valued at $65,520,000. Hennessy Advisors Inc. bought a new stake in Peloton Interactive in the 4th quarter valued at about $85,260,000. Assenagon Asset Management S.A. acquired a new position in Peloton Interactive during the 4th quarter valued at about $39,992,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Peloton Interactive by 245.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,227,854 shares of the company’s stock worth $36,782,000 after purchasing an additional 3,004,757 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Peloton Interactive in the third quarter valued at approximately $8,363,000. Institutional investors and hedge funds own 77.01% of the company’s stock.

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.