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

Peloton Interactive, Inc. (NASDAQ:PTON) gapped up prior to trading 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 trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PTON shares. Robert W. Baird boosted their price target on shares of Peloton Interactive from $4.75 to $8.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Sanford C. Bernstein boosted their target price on Peloton Interactive from $4.25 to $6.50 and gave the stock a “market perform” rating in a research note on Friday, November 1st. 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 report on Friday, November 1st. BMO Capital Markets upped their price objective on Peloton Interactive from $6.50 to $8.50 and gave the company a “market perform” rating in a research note on Monday, November 4th. Finally, Bank of America upgraded Peloton Interactive from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $3.75 to $9.00 in a research note on Monday, November 4th. Sixteen analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.10.

Peloton Interactive Stock Performance

The firm has a market capitalization of $3.29 billion, a PE ratio of -8.06 and a beta of 1.95. The company’s 50 day simple moving average is $8.99 and its 200-day simple moving average is $6.59.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). On average, equities research analysts forecast that Peloton Interactive, Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Peloton Interactive

Large investors have recently made changes to their positions in the business. AQR Capital Management LLC raised its stake in Peloton Interactive by 689.6% in the second quarter. AQR Capital Management LLC now owns 123,736 shares of the company’s stock worth $418,000 after buying an additional 108,065 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Peloton Interactive by 253.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 181,589 shares of the company’s stock valued at $614,000 after purchasing an additional 130,242 shares during the period. Algert Global LLC bought a new stake in shares of Peloton Interactive during the second quarter valued at approximately $113,000. Cubist Systematic Strategies LLC grew its stake in Peloton Interactive by 99.8% in the second quarter. Cubist Systematic Strategies LLC now owns 56,208 shares of the company’s stock worth $190,000 after purchasing an additional 28,070 shares during the period. Finally, SG Americas Securities LLC raised its holdings in Peloton Interactive by 122.4% in the third quarter. SG Americas Securities LLC now owns 323,478 shares of the company’s stock worth $1,514,000 after purchasing an additional 178,037 shares in the last quarter. 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.