Peloton Interactive (NASDAQ:PTON) Trading Up 5.6%

Peloton Interactive, Inc. (NASDAQ:PTON) shot up 5.6% during mid-day trading on Friday . The company traded as high as $4.64 and last traded at $4.51. 2,238,972 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 15,992,885 shares. The stock had previously closed at $4.27.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PTON. 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 report on Friday, August 23rd. JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a research report on Tuesday, July 2nd. TD Cowen lifted their price objective on shares of Peloton Interactive from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Robert W. Baird lifted their price objective on shares of Peloton Interactive from $4.00 to $4.75 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Finally, Morgan Stanley lifted their price objective on shares of Peloton Interactive from $2.50 to $3.50 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $4.57.

Peloton Interactive Price Performance

The company’s 50-day moving average is $3.78 and its two-hundred day moving average is $3.79. The firm has a market cap of $1.74 billion, a P/E ratio of -2.16 and a beta of 2.04.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, August 22nd. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.10. The business had revenue of $644.00 million for the quarter, compared to analyst estimates of $633.00 million. During the same period in the previous year, the firm posted ($0.68) EPS. The firm’s revenue was up .3% compared to the same quarter last year. On average, analysts expect that Peloton Interactive, Inc. will post -0.65 EPS for the current fiscal year.

Insider Activity

In other news, CAO Saqib Baig sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $4.88, for a total value of $244,000.00. Following the sale, the chief accounting officer now directly owns 87,014 shares in the company, valued at approximately $424,628.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Elizabeth F. Coddington sold 56,084 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $4.50, for a total value of $252,378.00. Following the completion of the transaction, the chief financial officer now owns 186,466 shares in the company, valued at approximately $839,097. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Saqib Baig sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $4.88, for a total transaction of $244,000.00. Following the completion of the transaction, the chief accounting officer now owns 87,014 shares of the company’s stock, valued at approximately $424,628.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,038 shares of company stock worth $597,188. Corporate insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Abundance Wealth Counselors raised its holdings in Peloton Interactive by 24.7% in the 2nd quarter. Abundance Wealth Counselors now owns 13,380 shares of the company’s stock valued at $45,000 after buying an additional 2,654 shares during the last quarter. Signaturefd LLC raised its holdings in Peloton Interactive by 2.7% during the 2nd quarter. Signaturefd LLC now owns 113,645 shares of the company’s stock worth $384,000 after purchasing an additional 3,032 shares during the last quarter. Arizona State Retirement System raised its holdings in Peloton Interactive by 3.8% during the 2nd quarter. Arizona State Retirement System now owns 92,781 shares of the company’s stock worth $314,000 after purchasing an additional 3,377 shares during the last quarter. Private Advisor Group LLC raised its holdings in Peloton Interactive by 11.5% during the 4th quarter. Private Advisor Group LLC now owns 37,373 shares of the company’s stock worth $228,000 after purchasing an additional 3,855 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in Peloton Interactive by 4.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 133,765 shares of the company’s stock worth $452,000 after purchasing an additional 5,463 shares during the last quarter. Institutional investors 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.