Peloton Interactive (NASDAQ:PTON) Sets New 52-Week High - Should You Buy?

Peloton Interactive, Inc. (NASDAQ:PTON - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The stock traded as high as $10.10 and last traded at $9.65, with a volume of 15813912 shares changing hands. The stock had previously closed at $9.58.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Macquarie increased their price target on Peloton Interactive from $4.90 to $9.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. Bank of America raised shares of Peloton Interactive from an "underperform" rating to a "buy" rating and boosted their target price for the stock from $3.75 to $9.00 in a report on Monday, November 4th. Sanford C. Bernstein raised their target price on shares of Peloton Interactive from $4.25 to $6.50 and gave the company a "market perform" rating in a research note on Friday, November 1st. Canaccord Genuity Group lifted their target price on Peloton Interactive from $4.00 to $5.00 and gave the stock a "hold" rating in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. increased their price target on Peloton Interactive from $5.00 to $7.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Peloton Interactive presently has a consensus rating of "Hold" and a consensus target price of $6.75.

Peloton Interactive Stock Up 0.8 %

The company's 50 day moving average is $6.40 and its 200 day moving average is $4.67.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The firm had revenue of $586.00 million for the quarter, compared to analysts' expectations of $572.97 million. During the same period in the previous year, the company earned ($0.44) earnings per share. The business's quarterly revenue was down 1.6% on a year-over-year basis. As a group, analysts forecast that Peloton Interactive, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Andrew S. Rendich sold 138,391 shares of the company's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $7.51, for a total transaction of $1,039,316.41. Following the completion of the transaction, the insider now directly owns 287,973 shares of the company's stock, valued at $2,162,677.23. This represents a 32.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Elizabeth F. Coddington sold 56,084 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.50, for a total value of $252,378.00. Following the transaction, the chief financial officer now directly owns 186,466 shares of the company's stock, valued at $839,097. The trade was a 23.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 506,517 shares of company stock worth $3,524,339 in the last 90 days. Insiders own 1.34% of the company's stock.

Institutional Trading of Peloton Interactive

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV purchased a new position in shares of Peloton Interactive in the 2nd quarter valued at about $27,000. Skylands Capital LLC purchased a new position in Peloton Interactive during the second quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Peloton Interactive by 31.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company's stock valued at $31,000 after buying an additional 1,597 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Peloton Interactive by 1,836.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,490 shares of the company's stock worth $32,000 after purchasing an additional 9,000 shares in the last quarter. Finally, Schneider Downs Wealth Management Advisors LP purchased a new stake in shares of Peloton Interactive during the 2nd quarter worth approximately $35,000. 77.01% of the stock is currently owned by hedge funds and other 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.