Peloton Interactive (NASDAQ:PTON) Trading 4.7% Higher

Peloton Interactive, Inc. (NASDAQ:PTON) rose 4.7% on Monday . The company traded as high as $3.81 and last traded at $3.79. Approximately 2,783,472 shares changed hands during trading, a decline of 81% from the average daily volume of 14,692,473 shares. The stock had previously closed at $3.62.

Wall Street Analyst Weigh In

PTON has been the topic of several analyst reports. Morgan Stanley assumed coverage on shares of Peloton Interactive in a research report on Monday, March 11th. They set an “equal weight” rating and a $3.00 price target on the stock. The Goldman Sachs Group decreased their price target on shares of Peloton Interactive from $6.50 to $5.75 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Truist Financial reduced their price target on shares of Peloton Interactive from $7.00 to $6.00 and set a “hold” rating for the company in a report on Friday, February 2nd. Telsey Advisory Group reduced their price objective on shares of Peloton Interactive from $6.00 to $5.00 and set a “market perform” rating for the company in a report on Friday, February 2nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Peloton Interactive from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Peloton Interactive presently has an average rating of “Hold” and an average price target of $7.50.

Peloton Interactive Trading Up 3.0 %

The business’s 50-day simple moving average is $4.46 and its 200-day simple moving average is $5.11.

Peloton Interactive (NASDAQ:PTON) last posted its earnings results on Thursday, February 1st. The company reported ($0.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.01. The business had revenue of $743.60 million for the quarter, compared to the consensus estimate of $733.17 million. During the same period in the previous year, the company posted ($0.98) earnings per share. Peloton Interactive’s revenue for the quarter was down 6.2% compared to the same quarter last year. Equities research analysts anticipate that Peloton Interactive, Inc. will post -1.6 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Karen Boone sold 50,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $4.33, for a total value of $216,500.00. Following the completion of the sale, the director now directly owns 34,966 shares of the company’s stock, valued at approximately $151,402.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Elizabeth F. Coddington sold 8,977 shares of Peloton Interactive stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $4.34, for a total value of $38,960.18. Following the sale, the chief financial officer now directly owns 104,428 shares in the company, valued at approximately $453,217.52. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Karen Boone sold 50,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $4.33, for a total value of $216,500.00. Following the completion of the transaction, the director now owns 34,966 shares of the company’s stock, valued at approximately $151,402.78. The disclosure for this sale can be found here. 3.28% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Peloton Interactive

Hedge funds and other institutional investors have recently modified their holdings of the business. Covestor Ltd boosted its holdings in shares of Peloton Interactive by 1,054.2% during the 1st quarter. Covestor Ltd now owns 1,385 shares of the company’s stock worth $37,000 after purchasing an additional 1,265 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Peloton Interactive during the fourth quarter worth about $39,000. Captrust Financial Advisors raised its holdings in Peloton Interactive by 63.0% during the first quarter. Captrust Financial Advisors now owns 5,454 shares of the company’s stock worth $144,000 after purchasing an additional 2,109 shares in the last quarter. KBC Group NV acquired a new stake in shares of Peloton Interactive during the 4th quarter valued at approximately $45,000. Finally, Rakuten Securities Inc. acquired a new position in shares of Peloton Interactive during the 4th quarter worth approximately $47,000. 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.