Peloton Interactive (NASDAQ:PTON) Shares Up 6.5% – What’s Next?

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) rose 6.5% on Thursday . The company traded as high as $4.61 and last traded at $4.58. Approximately 4,937,175 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 13,842,064 shares. The stock had previously closed at $4.30.

Analysts Set New Price Targets

A number of research firms have issued reports on PTON. Argus cut Peloton Interactive from a “buy” rating to a “hold” rating in a report on Tuesday, February 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Peloton Interactive in a research report on Friday, January 9th. Telsey Advisory Group cut their target price on shares of Peloton Interactive from $8.00 to $6.00 and set a “market perform” rating on the stock in a research note on Friday, February 6th. UBS Group restated a “buy” rating on shares of Peloton Interactive in a report on Tuesday, February 3rd. Finally, Guggenheim initiated coverage on shares of Peloton Interactive in a report on Wednesday, December 10th. They set a “neutral” rating on the stock. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $8.42.

Peloton Interactive Stock Up 7.3%

The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -35.48, a PEG ratio of 0.70 and a beta of 2.47. The stock has a 50 day simple moving average of $4.44 and a 200 day simple moving average of $6.16.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). During the same period in the prior year, the business earned ($0.24) earnings per share. The firm’s revenue was down 2.5% compared to the same quarter last year. Equities analysts expect that Peloton Interactive, Inc. will post -0.36 earnings per share for the current year.

Insider Activity

In related news, insider Nick V. Caldwell sold 75,762 shares of the company’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $7.00, for a total value of $530,334.00. Following the sale, the insider owned 764,220 shares in the company, valued at $5,349,540. This represents a 9.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer Cunningham Cotter sold 154,497 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $4.41, for a total transaction of $681,331.77. Following the completion of the transaction, the insider directly owned 100,269 shares in the company, valued at approximately $442,186.29. The trade was a 60.64% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,052,924 shares of company stock valued at $4,823,092. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Peloton Interactive

Several institutional investors and hedge funds have recently modified their holdings of PTON. Eminence Capital LP bought a new stake in Peloton Interactive during the second quarter worth $112,681,000. DNB Asset Management AS lifted its stake in Peloton Interactive by 142.4% during the 4th quarter. DNB Asset Management AS now owns 10,776,627 shares of the company’s stock valued at $66,384,000 after acquiring an additional 6,331,510 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in Peloton Interactive during the 4th quarter worth $30,533,000. Alyeska Investment Group L.P. boosted its holdings in Peloton Interactive by 306.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 5,462,344 shares of the company’s stock worth $33,648,000 after acquiring an additional 4,116,986 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Peloton Interactive in the 4th quarter worth $23,796,000. 77.01% of the stock is owned by hedge funds and other institutional investors.

Peloton Interactive Company Profile

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.