Peloton Interactive (NASDAQ:PTON) Stock Price Up 6.6% – Here’s What Happened

Peloton Interactive, Inc. (NASDAQ:PTON) shares were up 6.6% during mid-day trading on Monday . The company traded as high as $6.51 and last traded at $6.5220. 2,415,216 shares were traded during trading, a decline of 82% from the average session volume of 13,164,085 shares. The stock had previously closed at $6.12.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PTON shares. Wall Street Zen raised shares of Peloton Interactive from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings upgraded shares of Peloton Interactive from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. The Goldman Sachs Group boosted their target price on shares of Peloton Interactive from $7.00 to $8.00 and gave the company a “buy” rating in a report on Friday, May 8th. UBS Group reaffirmed a “buy” rating on shares of Peloton Interactive in a research report on Monday, June 15th. Finally, Telsey Advisory Group reissued a “market perform” rating on shares of Peloton Interactive in a research report on Wednesday, May 27th. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.25.

Peloton Interactive Stock Down 2.5%

The company has a market capitalization of $2.75 billion, a P/E ratio of 159.04, a P/E/G ratio of 0.48 and a beta of 2.52. The firm’s 50-day moving average price is $5.80 and its 200 day moving average price is $5.24.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). Peloton Interactive had a negative return on equity of 6.95% and a net margin of 0.94%.Peloton Interactive’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.12) EPS. As a group, equities research analysts expect that Peloton Interactive, Inc. will post 0.13 EPS for the current year.

Insider Transactions at Peloton Interactive

In related news, CFO Saqib Baig sold 29,075 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.27, for a total transaction of $153,225.25. Following the transaction, the chief financial officer directly owned 250,019 shares in the company, valued at approximately $1,317,600.13. The trade was a 10.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dion C. Sanders sold 112,523 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $5.19, for a total transaction of $583,994.37. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 172,571 shares of company stock worth $906,269 over the last three months. 1.30% of the stock is owned by insiders.

Institutional Trading of Peloton Interactive

A number of hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased its position in shares of Peloton Interactive by 232.0% during the 2nd quarter. GAMMA Investing LLC now owns 4,399 shares of the company’s stock valued at $26,000 after purchasing an additional 3,074 shares during the last quarter. Sankala Group LLC bought a new position in Peloton Interactive during the fourth quarter valued at about $31,000. Cora Capital Advisors LLC purchased a new stake in Peloton Interactive during the first quarter worth about $43,000. Advisory Services Network LLC bought a new stake in Peloton Interactive in the third quarter worth about $48,000. Finally, SummitTX Capital L.P. purchased a new position in Peloton Interactive in the first quarter valued at about $50,000. 77.01% of the stock is currently owned by institutional investors.

Peloton Interactive Company Profile

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.