Peloton Interactive (NASDAQ:PTON) Shares Gap Up – Still a Buy?

Peloton Interactive, Inc. (NASDAQ:PTON) shares gapped up prior to trading on Thursday . The stock had previously closed at $7.58, but opened at $8.91. Peloton Interactive shares last traded at $8.72, with a volume of 17,493,053 shares trading hands.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Robert W. Baird raised their price objective on shares of Peloton Interactive from $4.75 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Truist Financial increased their price target on shares of Peloton Interactive from $6.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their target price on Peloton Interactive from $5.00 to $7.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Bank of America upgraded shares of Peloton Interactive from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $3.75 to $9.00 in a research note on Monday, November 4th. Finally, UBS Group upgraded shares of Peloton Interactive from a “sell” rating to a “neutral” rating and increased their price target for the stock from $2.50 to $10.00 in a report on Friday, December 6th. Sixteen research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $7.10.

Peloton Interactive Stock Down 1.4 %

The firm has a 50-day moving average price of $8.92 and a two-hundred day moving average price of $6.63. The firm has a market cap of $3.19 billion, a PE ratio of -10.87 and a beta of 1.95.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.04). Research analysts forecast that Peloton Interactive, Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Transactions at Peloton Interactive

In other Peloton Interactive news, insider Andrew S. Rendich sold 138,391 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $7.51, for a total transaction of $1,039,316.41. Following the transaction, the insider now owns 287,973 shares of the company’s stock, valued at approximately $2,162,677.23. The trade was a 32.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Karen Boone sold 16,925 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $9.64, for a total value of $163,157.00. Following the completion of the sale, the chief executive officer now directly owns 228,217 shares of the company’s stock, valued at $2,200,011.88. This trade represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 395,813 shares of company stock worth $3,041,724 in the last ninety days. Insiders own 1.34% of the company’s stock.

Institutional Trading of Peloton Interactive

Several hedge funds have recently made changes to their positions in PTON. R Squared Ltd acquired a new position in Peloton Interactive in the fourth quarter valued at approximately $28,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Peloton Interactive by 31.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock worth $31,000 after purchasing an additional 1,597 shares during the period. Verdence Capital Advisors LLC acquired a new stake in shares of Peloton Interactive during the 3rd quarter worth about $52,000. Ballentine Partners LLC acquired a new position in Peloton Interactive in the third quarter valued at about $55,000. Finally, Sanctuary Advisors LLC purchased a new stake in Peloton Interactive in the third quarter valued at approximately $58,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.

Peloton Interactive Company Profile

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.