Peloton Interactive (NASDAQ:PTON) Shares Gap Up – Should You Buy?

Peloton Interactive, Inc. (NASDAQ:PTON) shares gapped up prior to trading on Friday . The stock had previously closed at $6.07, but opened at $6.59. Peloton Interactive shares last traded at $6.64, with a volume of 4,876,108 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PTON. JMP Securities reissued a “market perform” rating on shares of Peloton Interactive in a research report on Friday, February 7th. The Goldman Sachs Group upped their price objective on Peloton Interactive from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Macquarie reaffirmed a “neutral” rating and issued a $9.00 price objective on shares of Peloton Interactive in a research report on Monday, February 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a research report on Thursday, February 6th. Finally, UBS Group raised Peloton Interactive from a “sell” rating to a “neutral” rating and upped their price objective for the company from $2.50 to $10.00 in a research report on Friday, December 6th. Fifteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.69.

Peloton Interactive Trading Up 16.1 %

The stock has a market capitalization of $2.75 billion, a PE ratio of -9.16 and a beta of 1.95. The firm has a 50 day moving average price of $8.12 and a 200 day moving average price of $7.43.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.04). On average, equities research analysts expect that Peloton Interactive, Inc. will post -0.36 EPS for the current year.

Insider Buying and Selling

In related news, CAO Saqib Baig sold 22,662 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.75, for a total value of $220,954.50. Following the completion of the transaction, the chief accounting officer now owns 130,031 shares of the company’s stock, valued at approximately $1,267,802.25. This trade represents a 14.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Cunningham Cotter sold 187,238 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $6.45, for a total transaction of $1,207,685.10. Following the completion of the sale, the insider now directly owns 100,269 shares in the company, valued at $646,735.05. This trade represents a 65.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 584,719 shares of company stock valued at $4,958,301. 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 added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new position in shares of Peloton Interactive during the third quarter worth approximately $212,000. Marathon Trading Investment Management LLC acquired a new stake in Peloton Interactive in the third quarter valued at approximately $152,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Peloton Interactive in the third quarter valued at approximately $5,724,000. Intech Investment Management LLC acquired a new stake in Peloton Interactive in the third quarter valued at approximately $327,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of Peloton Interactive during the third quarter worth $981,000. 77.01% of the stock is owned by hedge funds and other institutional investors.

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.