Peloton Interactive (NASDAQ:PTON) Stock Price Up 8.1% - What's Next?

Peloton Interactive, Inc. (NASDAQ:PTON - Get Free Report)'s stock price traded up 8.1% on Wednesday . The company traded as high as $6.98 and last traded at $7.20. 1,674,305 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 15,130,330 shares. The stock had previously closed at $6.66.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PTON. Canaccord Genuity Group upgraded shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $10.00 price target on the stock in a research note on Friday, March 14th. JMP Securities restated a "market perform" rating on shares of Peloton Interactive in a research report on Monday, April 14th. The Goldman Sachs Group decreased their price target on shares of Peloton Interactive from $10.00 to $7.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. JPMorgan Chase & Co. lowered their price objective on Peloton Interactive from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Peloton Interactive in a report on Friday, May 9th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $8.30.

Peloton Interactive Price Performance

The stock has a market cap of $2.85 billion, a PE ratio of -9.48 and a beta of 2.25. The business has a fifty day moving average of $6.37 and a 200 day moving average of $7.71.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.06). The firm had revenue of $624.00 million during the quarter, compared to analyst estimates of $620.39 million. During the same period last year, the business earned ($0.45) EPS. The company's revenue was down 13.1% on a year-over-year basis. On average, equities research analysts expect that Peloton Interactive, Inc. will post -0.36 EPS for the current year.

Insider Activity

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 38,151 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $6.83, for a total transaction of $260,571.33. Following the sale, the chief financial officer now directly owns 258,880 shares in the company, valued at approximately $1,768,150.40. The trade was a 12.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dion C. Sanders sold 122,036 shares of Peloton Interactive stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.25, for a total value of $762,725.00. Following the transaction, the insider now owns 114,318 shares in the company, valued at approximately $714,487.50. This trade represents a 51.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 560,197 shares of company stock valued at $3,554,152. 1.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Peloton Interactive

Hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its holdings in Peloton Interactive by 969.6% during the fourth quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company's stock worth $35,000 after buying an additional 3,636 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Peloton Interactive during the 1st quarter valued at $37,000. Comerica Bank boosted its stake in shares of Peloton Interactive by 29.1% during the 4th quarter. Comerica Bank now owns 6,164 shares of the company's stock worth $54,000 after acquiring an additional 1,389 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Peloton Interactive by 40.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 6,503 shares of the company's stock worth $41,000 after acquiring an additional 1,864 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Peloton Interactive during the fourth quarter worth $69,000. 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.