Peloton Interactive (NASDAQ:PTON) Stock Price Up 7.4%

Peloton Interactive, Inc. (NASDAQ:PTON) rose 7.4% during trading on Thursday . The stock traded as high as $4.84 and last traded at $4.76. Approximately 2,513,236 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 15,863,816 shares. The stock had previously closed at $4.43.

Wall Street Analysts Forecast Growth

PTON has been the topic of a number of analyst reports. Canaccord Genuity Group lifted their price objective on shares of Peloton Interactive from $4.00 to $5.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. lowered shares of Peloton Interactive from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $7.00 to $5.00 in a research note on Friday, August 23rd. Wolfe Research initiated coverage on shares of Peloton Interactive in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Robert W. Baird lifted their price objective on shares of Peloton Interactive from $4.00 to $4.75 and gave the company a “neutral” rating in a research note on Monday, August 26th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.57.

Peloton Interactive Price Performance

The stock has a market cap of $1.75 billion, a price-to-earnings ratio of -2.27 and a beta of 2.04. The business’s fifty day simple moving average is $3.86 and its 200 day simple moving average is $3.78.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, August 22nd. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.10. The business had revenue of $644.00 million during the quarter, compared to analyst estimates of $633.00 million. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.68) EPS. As a group, equities analysts forecast that Peloton Interactive, Inc. will post -0.65 EPS for the current fiscal year.

Insider Activity

In other news, CEO Karen Boone sold 14,841 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $3.31, for a total transaction of $49,123.71. Following the completion of the transaction, the chief executive officer now owns 116,171 shares of the company’s stock, valued at $384,526.01. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Chris Bruzzo sold 15,113 shares of Peloton Interactive stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $3.42, for a total transaction of $51,686.46. Following the sale, the chief executive officer now directly owns 97,433 shares in the company, valued at $333,220.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Karen Boone sold 14,841 shares of Peloton Interactive stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $3.31, for a total transaction of $49,123.71. Following the sale, the chief executive officer now owns 116,171 shares in the company, valued at $384,526.01. The disclosure for this sale can be found here. Over the last quarter, insiders sold 172,857 shares of company stock valued at $771,710. 3.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Peloton Interactive

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Peloton Interactive by 4.0% in the first quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock worth $135,212,000 after acquiring an additional 1,215,397 shares in the last quarter. Capital World Investors raised its position in Peloton Interactive by 17.6% in the fourth quarter. Capital World Investors now owns 26,259,325 shares of the company’s stock worth $159,919,000 after acquiring an additional 3,925,000 shares in the last quarter. DNB Asset Management AS raised its position in Peloton Interactive by 42.4% in the second quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock worth $40,880,000 after acquiring an additional 3,611,069 shares in the last quarter. DME Capital Management LP bought a new stake in Peloton Interactive in the second quarter worth about $22,947,000. Finally, Patient Capital Management LLC raised its position in Peloton Interactive by 32.7% in the fourth quarter. Patient Capital Management LLC now owns 6,196,285 shares of the company’s stock worth $37,735,000 after acquiring an additional 1,527,471 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.