Peloton Interactive (NASDAQ:PTON) Sees Unusually-High Trading Volume

Peloton Interactive, Inc. (NASDAQ:PTON) shares saw unusually-strong trading volume on Tuesday . Approximately 17,525,454 shares changed hands during trading, an increase of 17% from the previous session’s volume of 15,017,558 shares.The stock last traded at $4.11 and had previously closed at $3.54.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Sanford C. Bernstein lowered shares of Peloton Interactive from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $8.00 to $3.80 in a research report on Friday, May 3rd. The Goldman Sachs Group reduced their price target on Peloton Interactive from $5.75 to $3.50 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. JPMorgan Chase & Co. dropped their target price on Peloton Interactive from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. BMO Capital Markets reduced their target price on Peloton Interactive from $7.50 to $6.50 and set a “market perform” rating on the stock in a research report on Friday, May 3rd. Finally, Citigroup cut Peloton Interactive from a “buy” rating to a “neutral” rating and lowered their price target for the company from $8.00 to $4.00 in a report on Monday. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.11.

Peloton Interactive Stock Performance

The firm has a fifty day moving average of $3.88 and a 200 day moving average of $4.85. The firm has a market capitalization of $1.64 billion, a PE ratio of -2.11 and a beta of 2.01.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The firm had revenue of $717.70 million for the quarter, compared to the consensus estimate of $720.85 million. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.79) EPS. Research analysts forecast that Peloton Interactive, Inc. will post -1.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Elizabeth F. Coddington sold 8,977 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $4.34, for a total transaction of $38,960.18. Following the completion of the sale, the chief financial officer now directly owns 104,428 shares in the company, valued at $453,217.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.28% of the stock is currently owned by company insiders.

Institutional Trading of Peloton Interactive

Hedge funds have recently made changes to their positions in the stock. Rakuten Securities Inc. acquired a new position in Peloton Interactive during the 4th quarter worth $47,000. Johnson & White Wealth Management LLC bought a new stake in Peloton Interactive in the first quarter valued at about $43,000. Abundance Wealth Counselors acquired a new stake in Peloton Interactive during the first quarter valued at approximately $46,000. Carl P. Sherr & Co. LLC bought a new position in Peloton Interactive during the 3rd quarter worth approximately $55,000. Finally, Clear Harbor Asset Management LLC acquired a new position in shares of Peloton Interactive in the 4th quarter worth approximately $78,000. Institutional investors and hedge funds own 77.01% of the company’s stock.

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.