Peloton Interactive (NASDAQ:PTON) Shares Gap Up – Here’s What Happened

Peloton Interactive, Inc. (NASDAQ:PTON)’s share price gapped up prior to trading on Friday . The stock had previously closed at $9.06, but opened at $9.40. Peloton Interactive shares last traded at $9.43, with a volume of 4,511,642 shares changing hands.

Analyst Ratings Changes

PTON has been the subject of several research reports. Robert W. Baird lifted their target price on shares of Peloton Interactive from $4.75 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Canaccord Genuity Group boosted their price target on shares of Peloton Interactive from $4.00 to $5.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Bank of America upgraded shares of Peloton Interactive from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $3.75 to $9.00 in a research note on Monday, November 4th. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a research note on Friday, November 1st. Finally, Roth Mkm boosted their price target on shares of Peloton Interactive from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Fifteen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Peloton Interactive presently has a consensus rating of “Hold” and a consensus target price of $6.75.

Peloton Interactive Stock Up 5.3 %

The stock has a market capitalization of $3.64 billion, a PE ratio of -8.92 and a beta of 1.93. The business’s 50-day moving average is $6.21 and its two-hundred day moving average is $4.59.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, October 31st. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The firm had revenue of $586.00 million for the quarter, compared to analyst estimates of $572.97 million. During the same period last year, the firm earned ($0.44) earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. As a group, analysts anticipate that Peloton Interactive, Inc. will post -0.38 EPS for the current year.

Insider Activity

In other news, CFO Elizabeth F. Coddington sold 56,084 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.50, for a total value of $252,378.00. Following the completion of the sale, the chief financial officer now directly owns 186,466 shares of the company’s stock, valued at approximately $839,097. This represents a 23.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Saqib Baig sold 36,776 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $7.53, for a total transaction of $276,923.28. Following the completion of the sale, the chief accounting officer now directly owns 137,357 shares of the company’s stock, valued at $1,034,298.21. The trade was a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 506,517 shares of company stock valued at $3,524,339. Insiders own 1.34% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

A number of hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd lifted its position in Peloton Interactive by 445.2% in the third quarter. XTX Topco Ltd now owns 350,570 shares of the company’s stock valued at $1,641,000 after purchasing an additional 286,268 shares during the period. National Bank of Canada FI lifted its position in Peloton Interactive by 647.5% in the third quarter. National Bank of Canada FI now owns 28,749 shares of the company’s stock valued at $135,000 after purchasing an additional 24,903 shares during the period. Two Sigma Advisers LP lifted its position in Peloton Interactive by 2.9% in the third quarter. Two Sigma Advisers LP now owns 7,440,900 shares of the company’s stock valued at $34,823,000 after purchasing an additional 206,500 shares during the period. Soros Fund Management LLC acquired a new stake in Peloton Interactive in the third quarter valued at about $998,000. Finally, Prentice Capital Management LP lifted its position in Peloton Interactive by 58.8% in the third quarter. Prentice Capital Management LP now owns 1,221,973 shares of the company’s stock valued at $5,719,000 after purchasing an additional 452,604 shares during the period. Institutional investors and hedge funds 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.