Peloton Interactive (NASDAQ:PTON) Trading Up 5.8% - Here's Why

Peloton Interactive, Inc. (NASDAQ:PTON - Get Free Report) shot up 5.8% during mid-day trading on Friday . The company traded as high as $6.83 and last traded at $6.76. 3,121,248 shares were traded during trading, a decline of 80% from the average session volume of 15,441,652 shares. The stock had previously closed at $6.39.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Telsey Advisory Group dropped their price objective on shares of Peloton Interactive from $9.00 to $8.00 and set a "market perform" rating on the stock in a report on Friday, May 9th. Bank of America decreased their price target on shares of Peloton Interactive from $11.50 to $9.50 and set a "buy" rating for the company in a research note on Tuesday, April 15th. The Goldman Sachs Group reduced their target price on shares of Peloton Interactive from $10.00 to $7.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Needham & Company LLC reiterated a "hold" rating on shares of Peloton Interactive in a research note on Friday, May 9th. Finally, Truist Financial raised shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $11.00 price target on the stock in a research report on Monday, April 28th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $8.30.

Peloton Interactive Stock Up 7.4%

The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of -15.60 and a beta of 2.15. The company's fifty day simple moving average is $6.71 and its 200 day simple moving average is $7.43.

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

Insider Activity at Peloton Interactive

In other Peloton Interactive news, insider Nick V. Caldwell sold 63,925 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $6.99, for a total transaction of $446,835.75. Following the sale, the insider now directly owns 578,668 shares in the company, valued at $4,044,889.32. This represents a 9.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jennifer Cunningham Cotter sold 145,622 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $6.25, for a total transaction of $910,137.50. Following the transaction, the insider now owns 235,439 shares of the company's stock, valued at approximately $1,471,493.75. This represents a 38.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 555,952 shares of company stock worth $3,556,914 in the last ninety days. 1.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On Peloton Interactive

Several hedge funds and other institutional investors have recently made changes to their positions in PTON. Russell Investments Group Ltd. boosted its holdings in shares of Peloton Interactive by 969.6% during the 4th quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company's stock valued at $35,000 after acquiring an additional 3,636 shares in the last quarter. FNY Investment Advisers LLC bought a new position in Peloton Interactive during the 1st quarter worth $37,000. Nisa Investment Advisors LLC lifted its holdings in Peloton Interactive by 40.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 6,503 shares of the company's stock worth $41,000 after buying an additional 1,864 shares during the period. GAMMA Investing LLC increased its stake in shares of Peloton Interactive by 1,082.5% in the first quarter. GAMMA Investing LLC now owns 8,159 shares of the company's stock valued at $52,000 after buying an additional 7,469 shares during the period. Finally, Comerica Bank raised its position in shares of Peloton Interactive by 29.1% during the fourth quarter. Comerica Bank now owns 6,164 shares of the company's stock worth $54,000 after acquiring an additional 1,389 shares during the last quarter. 77.01% of the stock is owned by 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.

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