Peloton Interactive (NASDAQ:PTON) Shares Gap Up to $3.22

Peloton Interactive, Inc. (NASDAQ:PTON)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $3.22, but opened at $3.61. Peloton Interactive shares last traded at $3.13, with a volume of 13,967,996 shares.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. The Goldman Sachs Group decreased their price objective on Peloton Interactive from $5.75 to $3.50 and set a “neutral” rating for the company in a report on Friday. Sanford C. Bernstein cut Peloton Interactive from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $8.00 to $3.80 in a research note on Friday. Macquarie cut their price objective on Peloton Interactive from $4.50 to $2.53 and set a “neutral” rating on the stock in a research note on Friday. Truist Financial reduced their target price on Peloton Interactive from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, February 2nd. Finally, Roth Mkm lowered their price target on shares of Peloton Interactive from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.15.

Peloton Interactive Stock Performance

The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -1.62 and a beta of 2.01. The company has a 50 day moving average price of $3.94 and a 200 day moving average price of $4.88.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The business had revenue of $717.70 million during the quarter, compared to analysts’ expectations of $720.85 million. During the same period in the previous year, the business earned ($0.79) earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. Research analysts forecast that Peloton Interactive, Inc. will post -1.61 EPS for the current year.

Insider Buying and Selling at Peloton Interactive

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $4.34, for a total value of $38,960.18. Following the transaction, the chief financial officer now directly owns 104,428 shares of the company’s stock, valued at $453,217.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.28% of the stock is currently owned by company insiders.

Institutional Trading of Peloton Interactive

Institutional investors and hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC grew its holdings in Peloton Interactive by 162.0% during the third quarter. Commonwealth Equity Services LLC now owns 129,454 shares of the company’s stock worth $654,000 after buying an additional 80,047 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Peloton Interactive by 149.3% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 55,612 shares of the company’s stock valued at $281,000 after purchasing an additional 33,307 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Peloton Interactive by 73.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 30,062 shares of the company’s stock valued at $152,000 after purchasing an additional 12,697 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Peloton Interactive by 18.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,050 shares of the company’s stock worth $258,000 after purchasing an additional 7,875 shares during the last quarter. Finally, Calamos Wealth Management LLC boosted its holdings in Peloton Interactive by 1.2% during the third quarter. Calamos Wealth Management LLC now owns 824,714 shares of the company’s stock worth $4,165,000 after purchasing an additional 10,100 shares during the last quarter. 77.01% of the stock is owned by hedge funds and other institutional investors.

About Peloton Interactive

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.