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

Peloton Interactive, Inc. (NASDAQ:PTON) shares gapped up before the market opened on Tuesday . The stock had previously closed at $5.48, but opened at $5.66. Peloton Interactive shares last traded at $5.52, with a volume of 4,157,667 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PTON. Roth Mkm lifted their price objective on Peloton Interactive from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley raised their price target on Peloton Interactive from $2.50 to $3.50 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. BMO Capital Markets reissued a “market perform” rating and issued a $6.50 target price on shares of Peloton Interactive in a research report on Tuesday, October 1st. Telsey Advisory Group upped their target price on shares of Peloton Interactive from $4.00 to $5.00 and gave the company a “market perform” rating in a report on Friday, August 23rd. Finally, TD Cowen upped their target price on Peloton Interactive from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $4.52.

Peloton Interactive Price Performance

The stock has a fifty day moving average of $4.55 and a 200 day moving average of $3.87. The firm has a market capitalization of $2.03 billion, a P/E ratio of -3.66 and a beta of 2.04.

Peloton Interactive (NASDAQ:PTON) last released its earnings results on Thursday, August 22nd. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.10. The business had revenue of $644.00 million for the quarter, compared to the consensus estimate of $633.00 million. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.68) earnings per share. Equities analysts forecast that Peloton Interactive, Inc. will post -0.65 EPS for the current fiscal year.

Insider Buying and Selling at Peloton Interactive

In other Peloton Interactive news, CEO Chris Bruzzo sold 24,977 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $5.80, for a total transaction of $144,866.60. Following the completion of the transaction, the chief executive officer now directly owns 149,240 shares of the company’s stock, valued at approximately $865,592. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Peloton Interactive news, insider Nick V. Caldwell purchased 31,337 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average cost of $4.25 per share, for a total transaction of $133,182.25. Following the purchase, the insider now owns 31,337 shares of the company’s stock, valued at $133,182.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chris Bruzzo sold 24,977 shares of Peloton Interactive stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $5.80, for a total transaction of $144,866.60. Following the completion of the transaction, the chief executive officer now owns 149,240 shares of the company’s stock, valued at $865,592. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 182,993 shares of company stock worth $867,453 over the last three months. 3.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PTON. Vanguard Group Inc. increased its holdings in Peloton Interactive by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock worth $135,212,000 after acquiring an additional 1,215,397 shares during the period. DNB Asset Management AS raised its position in shares of Peloton Interactive by 42.4% in the second quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock worth $40,880,000 after buying an additional 3,611,069 shares in the last quarter. DME Capital Management LP bought a new stake in Peloton Interactive during the second quarter valued at $22,947,000. Clearline Capital LP purchased a new position in Peloton Interactive during the second quarter worth about $7,527,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in Peloton Interactive in the 1st quarter worth about $5,877,000. 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.