JPMorgan Chase & Co. Cuts Peloton Interactive (NASDAQ:PTON) Price Target to $7.00

Peloton Interactive (NASDAQ:PTON) had its price objective reduced by JPMorgan Chase & Co. from $8.00 to $7.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also recently issued reports on PTON. Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a research report on Thursday, February 6th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $11.00 price objective on shares of Peloton Interactive in a report on Monday, February 3rd. Macquarie reissued a “neutral” rating and issued a $9.00 target price on shares of Peloton Interactive in a report on Monday, February 10th. JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a report on Friday, February 7th. Finally, Citigroup reduced their price objective on Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Fifteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $8.69.

Peloton Interactive Stock Down 6.3 %

Shares of PTON opened at $5.50 on Tuesday. The company has a 50-day moving average price of $7.17 and a two-hundred day moving average price of $7.63. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -7.14 and a beta of 2.21. Peloton Interactive has a 12 month low of $2.70 and a 12 month high of $10.90.

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

Insider Buying and Selling

In other news, CAO Saqib Baig sold 22,662 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $9.75, for a total value of $220,954.50. Following the transaction, the chief accounting officer now directly owns 130,031 shares in the company, valued at $1,267,802.25. This trade represents a 14.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Cunningham Cotter sold 187,238 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $6.45, for a total value of $1,207,685.10. Following the completion of the sale, the insider now owns 100,269 shares of the company’s stock, valued at $646,735.05. This represents a 65.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 674,338 shares of company stock valued at $5,522,838 over the last ninety days. Insiders own 1.34% of the company’s stock.

Institutional Trading of Peloton Interactive

A number of hedge funds have recently modified their holdings of PTON. Vanguard Group Inc. grew its holdings in Peloton Interactive by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 35,059,790 shares of the company’s stock valued at $305,020,000 after purchasing an additional 1,645,640 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Peloton Interactive by 38.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 16,820,256 shares of the company’s stock worth $146,337,000 after purchasing an additional 4,635,667 shares in the last quarter. DME Capital Management LP grew its holdings in shares of Peloton Interactive by 10.4% in the 4th quarter. DME Capital Management LP now owns 10,522,687 shares of the company’s stock valued at $91,547,000 after buying an additional 992,797 shares during the period. Hennessy Advisors Inc. bought a new stake in shares of Peloton Interactive in the 4th quarter valued at $85,260,000. Finally, Geode Capital Management LLC raised its stake in Peloton Interactive by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 8,270,328 shares of the company’s stock worth $71,969,000 after buying an additional 170,901 shares during the period. 77.01% of the stock is currently owned by institutional investors and hedge funds.

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.