Peloton Interactive (NASDAQ:PTON) Shares Gap Up to $4.90

Peloton Interactive, Inc. (NASDAQ:PTON)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $4.90, but opened at $5.01. Peloton Interactive shares last traded at $4.95, with a volume of 1,360,925 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Morgan Stanley increased their target price on shares of Peloton Interactive from $2.50 to $3.50 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Wolfe Research began coverage on Peloton Interactive in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a report on Thursday, August 22nd. Robert W. Baird raised their target price on Peloton Interactive from $4.00 to $4.75 and gave the company a “neutral” rating in a report on Monday, August 26th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $2.53 price objective on shares of Peloton Interactive in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $4.57.

Peloton Interactive Stock Performance

The company has a market cap of $1.78 billion, a PE ratio of -2.32 and a beta of 2.04. The stock’s 50 day moving average price is $3.91 and its 200-day moving average price is $3.79.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly 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 during the quarter, compared to analysts’ expectations of $633.00 million. During the same period in the previous year, the business earned ($0.68) EPS. The business’s revenue was up .3% compared to the same quarter last year. On average, analysts anticipate that Peloton Interactive, Inc. will post -0.65 EPS for the current year.

Insider Transactions at Peloton Interactive

In related news, CEO Chris Bruzzo sold 15,113 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $3.42, for a total value of $51,686.46. Following the transaction, the chief executive officer now directly owns 97,433 shares of the company’s stock, valued at approximately $333,220.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Peloton Interactive news, CEO Chris Bruzzo sold 15,113 shares of Peloton Interactive stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $3.42, for a total value of $51,686.46. Following the completion of the sale, the chief executive officer now owns 97,433 shares of the company’s stock, valued at approximately $333,220.86. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Elizabeth F. Coddington sold 36,819 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $4.74, for a total value of $174,522.06. Following the completion of the transaction, the chief financial officer now directly owns 171,466 shares in the company, valued at approximately $812,748.84. The disclosure for this sale can be found here. Insiders have sold a total of 172,857 shares of company stock valued at $771,710 in the last ninety days. 3.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Peloton Interactive

Hedge funds have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV purchased a new position in shares of Peloton Interactive in the second quarter valued at $27,000. Skylands Capital LLC bought a new position in shares of Peloton Interactive during the 2nd quarter worth $30,000. Nisa Investment Advisors LLC increased its position in Peloton Interactive by 1,836.7% during 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 during the period. Schneider Downs Wealth Management Advisors LP bought a new position in Peloton Interactive in the second quarter worth approximately $35,000. Finally, CIBC Asset Management Inc bought a new position in shares of Peloton Interactive in the 2nd quarter worth $35,000. 77.01% of the stock is currently owned by institutional investors.

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.