Peloton Interactive (NASDAQ:PTON) Hits New 52-Week High – What’s Next?

Peloton Interactive, Inc. (NASDAQ:PTON) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $10.40 and last traded at $9.86, with a volume of 17269035 shares changing hands. The stock had previously closed at $9.55.

Analyst Ratings Changes

Several research analysts have recently weighed in on PTON shares. Canaccord Genuity Group upped their target price on Peloton Interactive from $4.00 to $5.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Robert W. Baird upped their price objective on shares of Peloton Interactive from $4.75 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. TD Cowen lifted their target price 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. Telsey Advisory Group upped their price target on shares of Peloton Interactive from $5.00 to $9.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a research note on Thursday, October 3rd. Fifteen analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Peloton Interactive has an average rating of “Hold” and a consensus price target of $6.75.

Peloton Interactive Price Performance

The business has a fifty day moving average of $6.91 and a 200 day moving average of $4.87. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of -9.21 and a beta of 1.90.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The firm had revenue of $586.00 million for the quarter, compared to analyst estimates of $572.97 million. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.44) earnings per share. On average, equities research analysts expect that Peloton Interactive, Inc. will post -0.38 EPS for the current year.

Insider Transactions at Peloton Interactive

In other news, insider Andrew S. Rendich sold 138,391 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $7.51, for a total value of $1,039,316.41. Following the completion of the transaction, the insider now owns 287,973 shares of the company’s stock, valued at approximately $2,162,677.23. This trade represents a 32.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Elizabeth F. Coddington sold 36,819 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $4.74, for a total transaction of $174,522.06. Following the sale, the chief financial officer now directly owns 171,466 shares in the company, valued at approximately $812,748.84. The trade was a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 450,433 shares of company stock worth $3,271,961 over the last ninety days. Company insiders own 1.34% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

Several large investors have recently bought and sold shares of PTON. Mercer Global Advisors Inc. ADV acquired a new position in shares of Peloton Interactive during the second quarter worth about $27,000. Skylands Capital LLC acquired a new position in Peloton Interactive during the 2nd quarter worth approximately $30,000. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Peloton Interactive by 31.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock valued at $31,000 after purchasing an additional 1,597 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Peloton Interactive by 1,836.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,490 shares of the company’s stock valued at $32,000 after purchasing an additional 9,000 shares in the last quarter. Finally, Schneider Downs Wealth Management Advisors LP purchased a new stake in shares of Peloton Interactive during the 2nd quarter worth $35,000. Hedge funds and other institutional investors 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.