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

Peloton Interactive, Inc. (NASDAQ:PTON - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $7.58, but opened at $8.91. Peloton Interactive shares last traded at $8.72, with a volume of 17,493,053 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. BMO Capital Markets boosted their target price on Peloton Interactive from $6.50 to $8.50 and gave the stock a "market perform" rating in a report on Monday, November 4th. Macquarie reiterated a "neutral" rating and issued a $9.00 price objective on shares of Peloton Interactive in a research report on Monday. JPMorgan Chase & Co. raised their price target on Peloton Interactive from $5.00 to $7.00 and gave the company a "neutral" rating in a report on Friday, November 1st. Robert W. Baird boosted their price objective on Peloton Interactive from $4.75 to $8.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Finally, UBS Group raised shares of Peloton Interactive from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $2.50 to $10.00 in a research note on Friday, December 6th. Sixteen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Peloton Interactive has a consensus rating of "Hold" and an average price target of $7.93.

Peloton Interactive Stock Up 2.4 %

The company has a market capitalization of $3.27 billion, a P/E ratio of -11.13 and a beta of 1.95. The business has a fifty day moving average price of $8.92 and a 200 day moving average price of $6.68.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.04). As a group, equities analysts forecast that Peloton Interactive, Inc. will post -0.39 earnings per share for the current year.

Insider Transactions at Peloton Interactive

In other Peloton Interactive news, Director Karen Boone sold 17,259 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $8.63, for a total transaction of $148,945.17. Following the transaction, the director now owns 244,641 shares of the company's stock, valued at $2,111,251.83. The trade was a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew S. Rendich sold 138,391 shares of Peloton Interactive stock in a transaction dated 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 sale, the insider now directly owns 287,973 shares of the company's stock, valued at $2,162,677.23. The trade was a 32.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 395,813 shares of company stock worth $3,041,724 in the last three months. Insiders own 1.34% of the company's stock.

Institutional Investors Weigh In On Peloton Interactive

Several institutional investors have recently made changes to their positions in PTON. R Squared Ltd bought a new position in shares of Peloton Interactive in the fourth quarter worth $28,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in Peloton Interactive by 31.9% in the third 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 in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Peloton Interactive in the 4th quarter valued at approximately $69,000. Jones Financial Companies Lllp increased its holdings in shares of Peloton Interactive by 33.9% during the fourth quarter. Jones Financial Companies Lllp now owns 9,496 shares of the company's stock worth $83,000 after buying an additional 2,403 shares in the last quarter. Finally, Matauro LLC bought a new stake in Peloton Interactive during the 4th quarter worth $90,000. 77.01% of the stock is currently 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.