Peloton Interactive (NASDAQ:PTON) Shares Gap Up – Should You Buy?

Peloton Interactive, Inc. (NASDAQ:PTON)’s share price gapped up before the market opened on Friday . The stock had previously closed at $6.07, but opened at $6.59. Peloton Interactive shares last traded at $6.64, with a volume of 4,876,108 shares.

Wall Street Analyst Weigh In

PTON has been the subject of a number of recent analyst reports. Citigroup cut their price objective on shares of Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, February 10th. JMP Securities reiterated a “market perform” rating on shares of Peloton Interactive in a report on Friday, February 7th. The Goldman Sachs Group upped their price objective 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 target price on shares of Peloton Interactive in a research note on Monday, February 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a research note on Thursday, February 6th. Fifteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Peloton Interactive currently has an average rating of “Hold” and an average price target of $8.69.

Peloton Interactive Stock Performance

The company has a market capitalization of $2.75 billion, a PE ratio of -9.16 and a beta of 1.95. The company’s 50-day simple moving average is $8.12 and its 200-day simple moving average is $7.43.

Peloton Interactive (NASDAQ:PTON) last issued 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). Analysts expect that Peloton Interactive, Inc. will post -0.36 EPS for the current year.

Insider Activity

In other Peloton Interactive news, insider Andrew S. Rendich sold 17,401 shares of Peloton Interactive stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $8.18, for a total transaction of $142,340.18. Following the completion of the transaction, the insider now owns 362,573 shares in the company, valued at approximately $2,965,847.14. The trade was a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Karen Boone sold 17,259 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 of the company’s stock, valued at approximately $2,111,251.83. This represents a 6.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 584,719 shares of company stock valued at $4,958,301 over the last quarter. Corporate insiders own 1.34% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

Institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Peloton Interactive during the third quarter worth approximately $5,724,000. Gtcr LLC acquired a new stake in Peloton Interactive in the third quarter valued at $65,520,000. Two Sigma Advisers LP raised its holdings in Peloton Interactive by 2.9% in the third quarter. Two Sigma Advisers LP now owns 7,440,900 shares of the company’s stock valued at $34,823,000 after acquiring an additional 206,500 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Peloton Interactive in the fourth quarter valued at $360,000. Finally, Rhumbline Advisers raised its holdings in shares of Peloton Interactive by 7.8% during the fourth quarter. Rhumbline Advisers now owns 479,134 shares of the company’s stock worth $4,168,000 after purchasing an additional 34,514 shares during the period. 77.01% of the stock is currently 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.