Peloton Interactive (NASDAQ:PTON) Trading 4.7% Higher - Here's Why

Shares of Peloton Interactive, Inc. (NASDAQ:PTON - Get Free Report) rose 4.7% on Wednesday . The company traded as high as $6.61 and last traded at $6.76. Approximately 573,603 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 15,799,973 shares. The stock had previously closed at $6.46.

Wall Street Analysts Forecast Growth

PTON has been the topic of several recent research reports. Argus upgraded shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $15.00 price objective on the stock in a research note on Tuesday, February 11th. Canaccord Genuity Group upgraded shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $10.00 target price on the stock in a research note on Friday, March 14th. The Goldman Sachs Group upped their target price on shares of Peloton Interactive from $8.00 to $10.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $11.00 price objective on shares of Peloton Interactive in a report on Monday, February 3rd. Finally, UBS Group upgraded Peloton Interactive from a "sell" rating to a "neutral" rating and raised their price objective for the company from $2.50 to $10.00 in a research report on Friday, December 6th. Fifteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Peloton Interactive has an average rating of "Hold" and a consensus target price of $8.69.

Remove Ads

Peloton Interactive Price Performance

The firm has a fifty day moving average price of $7.90 and a two-hundred day moving average price of $7.52. The stock has a market capitalization of $2.71 billion, a PE ratio of -9.04 and a beta of 1.95.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.04). On average, research analysts expect that Peloton Interactive, Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Activity at Peloton Interactive

In other news, CAO Saqib Baig sold 22,662 shares of Peloton Interactive stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $9.75, for a total value of $220,954.50. Following the transaction, the chief accounting officer now owns 130,031 shares of the company's stock, valued at $1,267,802.25. The trade was a 14.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karen Boone sold 17,259 shares of Peloton Interactive stock in a transaction 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 completion of the transaction, the director now directly owns 244,641 shares in the company, valued at $2,111,251.83. This represents a 6.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 691,597 shares of company stock valued at $5,671,783 over the last ninety days. 1.34% of the stock is owned by company insiders.

Institutional Trading of Peloton Interactive

Institutional investors have recently bought and sold shares of the stock. Townsquare Capital LLC increased its holdings in shares of Peloton Interactive by 6.5% in the fourth quarter. Townsquare Capital LLC now owns 19,280 shares of the company's stock valued at $168,000 after purchasing an additional 1,172 shares during the period. PDT Partners LLC increased its stake in shares of Peloton Interactive by 0.7% in the third quarter. PDT Partners LLC now owns 205,573 shares of the company's stock worth $962,000 after acquiring an additional 1,373 shares during the period. Comerica Bank raised its holdings 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 purchasing an additional 1,389 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Peloton Interactive by 9.1% in the 4th quarter. Cetera Investment Advisers now owns 17,144 shares of the company's stock valued at $149,000 after buying an additional 1,432 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Peloton Interactive by 3.8% in the fourth quarter. Victory Capital Management Inc. now owns 42,084 shares of the company's stock valued at $366,000 after acquiring an additional 1,534 shares during the period. 77.01% of the stock is currently 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.