Peloton Interactive (NASDAQ:PTON) Trading 7.4% Higher

Peloton Interactive, Inc. (NASDAQ:PTON)’s stock price was up 7.4% on Thursday . The stock traded as high as $4.84 and last traded at $4.76. Approximately 2,513,236 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 15,863,816 shares. The stock had previously closed at $4.43.

Analyst Ratings Changes

A number of research analysts have issued reports on PTON shares. JMP Securities reissued a “market perform” rating on shares of Peloton Interactive in a research report on Tuesday, July 2nd. Sanford C. Bernstein increased their price target on shares of Peloton Interactive from $3.80 to $4.25 and gave the stock a “market perform” rating in a research note on Friday, August 23rd. Wolfe Research started coverage on Peloton Interactive in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Roth Mkm increased their target price on Peloton Interactive from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, JPMorgan Chase & Co. cut Peloton Interactive from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $7.00 to $5.00 in a research note on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.57.

Peloton Interactive Stock Up 3.2 %

The stock has a market cap of $1.84 billion, a PE ratio of -2.32 and a beta of 2.04. The stock’s fifty day moving average price is $3.91 and its 200 day moving average price is $3.79.

Peloton Interactive (NASDAQ:PTON) last posted 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 during the quarter, compared to the consensus estimate of $633.00 million. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.68) EPS. On average, equities research analysts expect that Peloton Interactive, Inc. will post -0.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Peloton Interactive

In other news, CAO Saqib Baig sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $4.88, for a total transaction of $244,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 87,014 shares of the company’s stock, valued at $424,628.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Saqib Baig sold 50,000 shares of Peloton Interactive stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $4.88, for a total value of $244,000.00. Following the completion of the sale, the chief accounting officer now owns 87,014 shares of the company’s stock, valued at $424,628.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Karen Boone sold 14,841 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $3.31, for a total value of $49,123.71. Following the sale, the chief executive officer now owns 116,171 shares of the company’s stock, valued at approximately $384,526.01. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 172,857 shares of company stock worth $771,710. Company insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Institutional investors and hedge funds have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV bought a new position in Peloton Interactive in the second quarter worth approximately $27,000. Skylands Capital LLC bought a new position in Peloton Interactive in the 2nd quarter worth $30,000. Nisa Investment Advisors LLC lifted its position in Peloton Interactive by 1,836.7% during the second 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. Schneider Downs Wealth Management Advisors LP bought a new stake in Peloton Interactive during the second quarter valued at about $35,000. Finally, CIBC Asset Management Inc purchased a new stake in Peloton Interactive in the second quarter worth about $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.