Peloton Interactive (NASDAQ:PTON) Sees Strong Trading Volume – Should You Buy?

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) saw unusually-strong trading volume on Monday . Approximately 7,269,074 shares changed hands during mid-day trading, a decline of 30% from the previous session’s volume of 10,369,432 shares.The stock last traded at $7.43 and had previously closed at $7.75.

Wall Street Analyst Weigh In

PTON has been the topic of several analyst reports. Morgan Stanley boosted their price target on shares of Peloton Interactive from $3.50 to $5.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Sanford C. Bernstein upped their target price on shares of Peloton Interactive from $4.25 to $6.50 and gave the company a “market perform” rating in a research note on Friday, November 1st. Macquarie raised their price target on shares of Peloton Interactive from $4.90 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Telsey Advisory Group reiterated a “market perform” rating and issued a $11.00 price objective on shares of Peloton Interactive in a research note on Monday. Finally, BMO Capital Markets raised their target price on Peloton Interactive from $6.50 to $8.50 and gave the stock a “market perform” rating in a research report on Monday, November 4th. Sixteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.10.

Peloton Interactive Stock Down 0.1 %

The stock has a fifty day moving average of $9.03 and a 200-day moving average of $6.58. The firm has a market capitalization of $2.79 billion, a P/E ratio of -6.83 and a beta of 1.95.

Insiders Place Their Bets

In other news, insider Andrew S. Rendich sold 138,391 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $7.51, for a total transaction of $1,039,316.41. Following the completion of the sale, the insider now owns 287,973 shares in the company, valued at $2,162,677.23. The trade was a 32.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Elizabeth F. Coddington sold 186,462 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $7.58, for a total value of $1,413,381.96. Following the transaction, the chief financial officer now directly owns 223,017 shares in the company, valued at $1,690,468.86. This trade represents a 45.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 395,813 shares of company stock valued at $3,041,724. Insiders own 1.34% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

Institutional investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. bought a new position in Peloton Interactive in the fourth quarter valued at approximately $140,000. NCP Inc. bought a new stake in shares of Peloton Interactive during the 4th quarter valued at $104,000. Bank of New York Mellon Corp lifted its stake in shares of Peloton Interactive by 2.0% in the 4th quarter. Bank of New York Mellon Corp now owns 970,963 shares of the company’s stock valued at $8,447,000 after purchasing an additional 19,081 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Peloton Interactive in the 4th quarter worth $360,000. Finally, Carl P. Sherr & Co. LLC acquired a new stake in shares of Peloton Interactive during the fourth quarter worth $104,000. Institutional investors and hedge funds 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.