Peloton Interactive, Inc. (NASDAQ:PTON – Get Rating) saw a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 34,460,000 shares, a decline of 16.6% from the August 31st total of 41,340,000 shares. Based on an average daily volume of 14,900,000 shares, the short-interest ratio is presently 2.3 days.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. BMO Capital Markets dropped their price target on Peloton Interactive from $12.00 to $9.75 and set an “underperform” rating on the stock in a research note on Friday, August 26th. Deutsche Bank Aktiengesellschaft dropped their target price on Peloton Interactive from $34.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, August 26th. Piper Sandler began coverage on Peloton Interactive in a research report on Friday, July 22nd. They issued a “neutral” rating and a $12.00 target price on the stock. Evercore ISI dropped their target price on Peloton Interactive from $14.00 to $11.00 and set an “in-line” rating on the stock in a research report on Friday, August 26th. Finally, Barclays dropped their target price on Peloton Interactive from $22.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, August 26th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $36.73.
Insider Buying and Selling at Peloton Interactive
In other Peloton Interactive news, insider Kevin Cornils sold 7,037 shares of Peloton Interactive stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $14.10, for a total value of $99,221.70. Following the transaction, the insider now owns 13,891 shares in the company, valued at $195,863.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Allen J. Klingsick sold 2,775 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $13.88, for a total transaction of $38,517.00. Following the sale, the chief accounting officer now owns 27,127 shares in the company, valued at $376,522.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin Cornils sold 7,037 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $14.10, for a total value of $99,221.70. Following the sale, the insider now owns 13,891 shares in the company, valued at approximately $195,863.10. The disclosure for this sale can be found here. 13.18% of the stock is owned by insiders.
Institutional Investors Weigh In On Peloton Interactive
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Credit Agricole S A purchased a new position in Peloton Interactive during the 4th quarter worth approximately $27,000. Webster Bank N. A. purchased a new position in Peloton Interactive during the 1st quarter worth approximately $26,000. McClarren Financial Advisors Inc. grew its stake in Peloton Interactive by 774.6% during the 1st quarter. McClarren Financial Advisors Inc. now owns 1,032 shares of the company’s stock worth $27,000 after buying an additional 914 shares during the last quarter. Gleason Group Inc. grew its stake in shares of Peloton Interactive by 740.7% in the 1st quarter. Gleason Group Inc. now owns 1,135 shares of the company’s stock valued at $30,000 after purchasing an additional 1,000 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its stake in shares of Peloton Interactive by 170.7% in the 1st quarter. AdvisorNet Financial Inc now owns 1,218 shares of the company’s stock valued at $32,000 after purchasing an additional 768 shares during the last quarter. Institutional investors and hedge funds own 79.40% of the company’s stock.
Peloton Interactive Trading Up 1.3 %
PTON stock opened at $8.35 on Thursday. The company has a quick ratio of 1.38, a current ratio of 2.38 and a debt-to-equity ratio of 2.62. The business’s 50-day moving average is $10.45 and its two-hundred day moving average is $14.55. Peloton Interactive has a 1 year low of $8.03 and a 1 year high of $99.36.
Peloton Interactive (NASDAQ:PTON – Get Rating) last issued its earnings results on Thursday, August 25th. The company reported ($2.68) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($1.98). Peloton Interactive had a negative return on equity of 102.05% and a negative net margin of 78.64%. The business had revenue of $678.40 million for the quarter, compared to analyst estimates of $682.93 million. During the same period last year, the business posted ($1.05) EPS. Peloton Interactive’s revenue was down 27.6% on a year-over-year basis. On average, equities research analysts anticipate that Peloton Interactive will post -2.12 EPS for the current fiscal year.
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, and Peloton Tread+ names. It also provides connected fitness subscriptions for various household users, and access to various live and on-demand classes, as well as Peloton Digital app for connected fitness subscribers to provide access to its classes.