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

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) gapped up before the market opened on Friday . The stock had previously closed at $8.83, but opened at $9.06. Peloton Interactive shares last traded at $9.18, with a volume of 899,567 shares.

Wall Street Analyst Weigh In

PTON has been the subject of several research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a report on Friday, November 1st. JPMorgan Chase & Co. raised their target price on shares of Peloton Interactive from $5.00 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Telsey Advisory Group upped their price target on shares of Peloton Interactive from $5.00 to $9.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Morgan Stanley raised their price objective on shares of Peloton Interactive from $3.50 to $5.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Finally, Sanford C. Bernstein upped their target price on Peloton Interactive from $4.25 to $6.50 and gave the company a “market perform” rating in a research report on Friday, November 1st. Sixteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.97.

Peloton Interactive Stock Performance

The business has a fifty day moving average of $8.80 and a 200-day moving average of $5.75. The company has a market capitalization of $3.51 billion, a P/E ratio of -8.59 and a beta of 1.90.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $586.00 million during the quarter, compared to analyst estimates of $572.97 million. During the same period in the prior year, the business earned ($0.44) EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. Sell-side analysts anticipate that Peloton Interactive, Inc. will post -0.38 EPS for the current year.

Insider Buying and Selling

In other news, CAO Saqib Baig sold 36,776 shares of Peloton Interactive stock in a transaction on Monday, November 18th. The stock was sold at an average price of $7.53, for a total transaction of $276,923.28. Following the sale, the chief accounting officer now directly owns 137,357 shares in the company, valued at $1,034,298.21. The trade was a 21.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Karen Boone sold 17,259 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.63, for a total transaction of $148,945.17. Following the transaction, the director now owns 244,641 shares of the company’s stock, valued at approximately $2,111,251.83. The trade was a 6.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 447,798 shares of company stock worth $3,409,541. 1.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Peloton Interactive by 31.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 79,619 shares of the company’s stock worth $269,000 after buying an additional 19,034 shares during the last quarter. Principal Financial Group Inc. boosted its position in Peloton Interactive by 30.1% during the second quarter. Principal Financial Group Inc. now owns 44,798 shares of the company’s stock worth $151,000 after purchasing an additional 10,367 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of Peloton Interactive by 4.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 133,765 shares of the company’s stock valued at $452,000 after buying an additional 5,463 shares in the last quarter. nVerses Capital LLC grew its stake in Peloton Interactive by 809.5% in the 2nd quarter. nVerses Capital LLC now owns 19,100 shares of the company’s stock valued at $65,000 after buying an additional 17,000 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new stake in Peloton Interactive during the 2nd quarter valued at $35,000. 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.