Peloton Interactive (NASDAQ:PTON) Shares Gap Up – Here’s What Happened

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) gapped up prior to trading on Friday . The stock had previously closed at $6.07, but opened at $6.59. Peloton Interactive shares last traded at $6.64, with a volume of 4,876,108 shares changing hands.

Analysts Set New Price Targets

PTON has been the subject of a number of recent analyst reports. Telsey Advisory Group reissued a “market perform” rating and set a $11.00 target price on shares of Peloton Interactive in a research report on Monday, February 3rd. Citigroup lowered their target price on shares of Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. The Goldman Sachs Group upped their price target on shares of Peloton Interactive from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Macquarie reiterated a “neutral” rating and set a $9.00 price target on shares of Peloton Interactive in a report on Monday, February 10th. Finally, JMP Securities reissued a “market perform” rating on shares of Peloton Interactive in a research note on Friday, February 7th. Fifteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Peloton Interactive presently has an average rating of “Hold” and an average target price of $8.69.

Peloton Interactive Stock Up 13.3 %

The stock has a market capitalization of $2.68 billion, a P/E ratio of -8.94 and a beta of 1.95. The business’s 50 day simple moving average is $8.16 and its two-hundred day simple moving average is $7.39.

Peloton Interactive (NASDAQ:PTON) last announced 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). Analysts predict that Peloton Interactive, Inc. will post -0.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Andrew S. Rendich sold 121,883 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $9.54, for a total transaction of $1,162,763.82. Following the completion of the sale, the insider now directly owns 404,188 shares of the company’s stock, valued at approximately $3,855,953.52. This trade represents a 23.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer Cunningham Cotter sold 187,238 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $6.45, for a total value of $1,207,685.10. Following the completion of the transaction, the insider now directly owns 100,269 shares in the company, valued at approximately $646,735.05. This represents a 65.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 584,719 shares of company stock valued at $4,958,301 in the last three months. 1.34% of the stock is currently owned by insiders.

Institutional Trading of Peloton Interactive

A number of large investors have recently added to or reduced their stakes in PTON. R Squared Ltd bought a new position in shares of Peloton Interactive during the 4th quarter valued at approximately $28,000. Point72 Asia Singapore Pte. Ltd. increased its position in Peloton Interactive by 31.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock worth $31,000 after buying an additional 1,597 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Peloton Interactive by 969.6% in the fourth quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company’s stock valued at $35,000 after buying an additional 3,636 shares during the period. Comerica Bank lifted its position in shares of Peloton Interactive by 29.1% during the 4th quarter. Comerica Bank now owns 6,164 shares of the company’s stock valued at $54,000 after buying an additional 1,389 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of Peloton Interactive during the 3rd quarter worth $58,000. Hedge funds and other 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.