Peloton Interactive (NASDAQ:PTON) Shares Gap Up - Here's Why

Peloton Interactive, Inc. (NASDAQ:PTON - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $5.48, but opened at $5.66. Peloton Interactive shares last traded at $5.52, with a volume of 4,157,667 shares traded.

Analyst Ratings Changes

Several analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of Peloton Interactive from $2.50 to $3.50 and gave the company an "equal weight" rating in a research note on Friday, August 23rd. TD Cowen lifted their price target on shares of Peloton Interactive from $3.00 to $4.00 and gave the company a "hold" rating in a research report on Friday, August 23rd. Sanford C. Bernstein raised their price objective on Peloton Interactive from $3.80 to $4.25 and gave the company a "market perform" rating in a research note on Friday, August 23rd. Robert W. Baird boosted their target price on Peloton Interactive from $4.00 to $4.75 and gave the stock a "neutral" rating in a research report on Monday, August 26th. Finally, Telsey Advisory Group upped their target price on Peloton Interactive from $4.00 to $5.00 and gave the company a "market perform" rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $4.52.

Peloton Interactive Stock Up 3.1 %

The firm has a market cap of $2.13 billion, a price-to-earnings ratio of -3.74 and a beta of 2.04. The firm has a fifty day moving average price of $4.60 and a 200-day moving average price of $3.89.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last issued its quarterly earnings results on Thursday, August 22nd. The company reported ($0.08) earnings per share (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 analyst estimates of $633.00 million. During the same period in the previous year, the business posted ($0.68) earnings per share. The firm's quarterly revenue was up .3% on a year-over-year basis. Equities research analysts anticipate that Peloton Interactive, Inc. will post -0.65 earnings per share for the current fiscal year.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, CEO Chris Bruzzo sold 24,977 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $5.80, for a total transaction of $144,866.60. Following the transaction, the chief executive officer now owns 149,240 shares of the company's stock, valued at $865,592. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Peloton Interactive news, CEO Chris Bruzzo sold 24,977 shares of the business's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $5.80, for a total transaction of $144,866.60. Following the completion of the sale, the chief executive officer now owns 149,240 shares of the company's stock, valued at approximately $865,592. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elizabeth F. Coddington sold 36,819 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $4.74, for a total value of $174,522.06. Following the completion of the transaction, the chief financial officer now owns 171,466 shares in the company, valued at approximately $812,748.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 182,993 shares of company stock worth $867,453. 3.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Peloton Interactive by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company's stock valued at $135,212,000 after acquiring an additional 1,215,397 shares during the period. DNB Asset Management AS raised its position in Peloton Interactive by 42.4% in the second quarter. DNB Asset Management AS now owns 12,130,553 shares of the company's stock valued at $40,880,000 after purchasing an additional 3,611,069 shares during the period. DME Capital Management LP acquired a new position in shares of Peloton Interactive during the second quarter worth about $22,947,000. Clearline Capital LP purchased a new stake in shares of Peloton Interactive in the second quarter worth about $7,527,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Peloton Interactive in the first quarter valued at about $5,877,000. 77.01% of the stock is owned by institutional investors and hedge funds.

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.