Peloton Interactive (NASDAQ:PTON) Shares Up 10.3% – What’s Next?

Peloton Interactive, Inc. (NASDAQ:PTON)’s stock price rose 10.3% during mid-day trading on Friday . The stock traded as high as $8.86 and last traded at $8.85. Approximately 19,537,781 shares were traded during mid-day trading, an increase of 18% from the average daily volume of 16,497,521 shares. The stock had previously closed at $8.02.

Wall Street Analyst Weigh In

PTON has been the topic of several recent analyst reports. Wolfe Research initiated coverage on shares of Peloton Interactive in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a research report on Friday, November 1st. TD Cowen upped their price objective on shares of Peloton Interactive from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Morgan Stanley lifted their target price on Peloton Interactive from $3.50 to $5.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, BMO Capital Markets increased their price target on Peloton Interactive from $6.50 to $8.50 and gave the stock a “market perform” rating in a report on Monday. Fifteen analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $6.75.

Peloton Interactive Price Performance

The stock has a market capitalization of $3.39 billion, a P/E ratio of -8.32 and a beta of 1.93. The stock’s 50-day simple moving average is $5.36 and its 200 day simple moving average is $4.19.

Peloton Interactive (NASDAQ:PTON) last posted its earnings results on Thursday, October 31st. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The firm had revenue of $586.00 million during the quarter, compared to the consensus estimate of $572.97 million. The company’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.44) earnings per share. As a group, analysts expect that Peloton Interactive, Inc. will post -0.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Nick V. Caldwell purchased 31,337 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $4.25 per share, with a total value of $133,182.25. Following the completion of the purchase, the insider now directly owns 31,337 shares in the company, valued at $133,182.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Peloton Interactive news, insider Nick V. Caldwell bought 31,337 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average cost of $4.25 per share, for a total transaction of $133,182.25. Following the completion of the purchase, the insider now directly owns 31,337 shares of the company’s stock, valued at approximately $133,182.25. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Karen Boone sold 13,484 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $8.27, for a total value of $111,512.68. Following the completion of the sale, the chief executive officer now directly owns 211,459 shares in the company, valued at approximately $1,748,765.93. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 194,888 shares of company stock worth $1,038,717 in the last 90 days. Company insiders own 1.34% of the company’s stock.

Institutional Trading of Peloton Interactive

A number of hedge funds and other institutional investors have recently modified their holdings of PTON. Abundance Wealth Counselors raised its holdings in Peloton Interactive by 24.7% in the 2nd quarter. Abundance Wealth Counselors now owns 13,380 shares of the company’s stock valued at $45,000 after buying an additional 2,654 shares during the last quarter. Signaturefd LLC raised its stake in shares of Peloton Interactive by 2.7% during the second quarter. Signaturefd LLC now owns 113,645 shares of the company’s stock valued at $384,000 after acquiring an additional 3,032 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Peloton Interactive by 3.8% during the second quarter. Arizona State Retirement System now owns 92,781 shares of the company’s stock worth $314,000 after purchasing an additional 3,377 shares during the period. Kohmann Bosshard Financial Services LLC grew its stake in shares of Peloton Interactive by 50.0% in the third quarter. Kohmann Bosshard Financial Services LLC now owns 15,000 shares of the company’s stock worth $70,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in Peloton Interactive by 4.3% in the second quarter. Commonwealth Equity Services LLC now owns 133,765 shares of the company’s stock valued at $452,000 after purchasing an additional 5,463 shares during the period. Institutional investors own 77.01% of the company’s stock.

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.