Telsey Advisory Group Reiterates Market Perform Rating for Peloton Interactive (NASDAQ:PTON)

Telsey Advisory Group restated their market perform rating on shares of Peloton Interactive (NASDAQ:PTON) in a report published on Friday morning, Benzinga reports. The firm currently has a $4.00 price objective on the stock.

PTON has been the subject of several other reports. Citigroup downgraded Peloton Interactive from a buy rating to a neutral rating and reduced their price objective for the stock from $8.00 to $4.00 in a research report on Monday, May 6th. Robert W. Baird increased their price target on Peloton Interactive from $3.50 to $4.00 and gave the stock a neutral rating in a research note on Tuesday, May 21st. BMO Capital Markets cut their price objective on shares of Peloton Interactive from $7.50 to $6.50 and set a market perform rating on the stock in a research note on Friday, May 3rd. Bank of America decreased their target price on shares of Peloton Interactive from $4.00 to $3.25 and set an underperform rating for the company in a research report on Monday, April 29th. Finally, The Goldman Sachs Group dropped their price target on shares of Peloton Interactive from $5.75 to $3.50 and set a neutral rating on the stock in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $5.09.

Peloton Interactive Stock Up 0.6 %

Peloton Interactive stock opened at $3.23 on Friday. Peloton Interactive has a 52-week low of $2.70 and a 52-week high of $7.49. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -1.53 and a beta of 2.02. The firm has a 50-day moving average price of $3.46 and a two-hundred day moving average price of $3.78.

Insiders Place Their Bets

In other news, CEO Chris Bruzzo sold 15,113 shares of Peloton Interactive stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $3.42, for a total value of $51,686.46. Following the transaction, the chief executive officer now directly owns 97,433 shares of the company’s stock, valued at $333,220.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Chris Bruzzo sold 15,113 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $3.42, for a total value of $51,686.46. Following the completion of the transaction, the chief executive officer now owns 97,433 shares of the company’s stock, valued at approximately $333,220.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elizabeth F. Coddington sold 8,923 shares of Peloton Interactive stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $3.68, for a total transaction of $32,836.64. Following the transaction, the chief financial officer now owns 186,466 shares in the company, valued at $686,194.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,813 shares of company stock worth $187,715. Company insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

Several hedge funds have recently bought and sold shares of PTON. Mercer Global Advisors Inc. ADV purchased a new position in Peloton Interactive during the second quarter valued at approximately $27,000. Skylands Capital LLC purchased a new position in shares of Peloton Interactive during the 2nd quarter valued at $30,000. Nisa Investment Advisors LLC increased its stake in shares of Peloton Interactive by 1,836.7% in the second quarter. Nisa Investment Advisors LLC now owns 9,490 shares of the company’s stock worth $32,000 after acquiring an additional 9,000 shares during the last quarter. Schneider Downs Wealth Management Advisors LP purchased a new stake in shares of Peloton Interactive during the second quarter worth $35,000. Finally, CIBC Asset Management Inc acquired a new stake in Peloton Interactive during the second quarter valued at $35,000. 77.01% of the stock is owned by hedge funds and other institutional investors.

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.