Peloton Interactive (NASDAQ:PTON) Trading 7.4% Higher – Here’s Why

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) shot up 7.4% on Tuesday . The stock traded as high as $4.08 and last traded at $4.2210. 2,674,239 shares were traded during mid-day trading, a decline of 79% from the average session volume of 12,908,289 shares. The stock had previously closed at $3.93.

Analyst Ratings Changes

PTON has been the subject of several research analyst reports. Telsey Advisory Group decreased their target price on Peloton Interactive from $8.00 to $6.00 and set a “market perform” rating for the company in a research report on Friday, February 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Peloton Interactive in a research report on Friday, January 9th. Citigroup decreased their price objective on shares of Peloton Interactive from $8.25 to $5.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. UBS Group reaffirmed a “buy” rating on shares of Peloton Interactive in a research report on Tuesday, February 3rd. Finally, Argus cut shares of Peloton Interactive from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $8.42.

Peloton Interactive Trading Up 0.1%

The company has a market capitalization of $1.74 billion, a P/E ratio of -31.65, a P/E/G ratio of 0.81 and a beta of 2.47. The company’s fifty day moving average is $4.64 and its 200 day moving average is $6.29.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). During the same quarter last year, the company earned ($0.24) EPS. The business’s revenue was down 2.5% compared to the same quarter last year. Equities research analysts predict that Peloton Interactive, Inc. will post -0.36 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Elizabeth F. Coddington sold 238,013 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $4.18, for a total transaction of $994,894.34. Following the sale, the chief financial officer directly owned 346,535 shares in the company, valued at $1,448,516.30. This represents a 40.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Nick V. Caldwell sold 75,762 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $7.00, for a total transaction of $530,334.00. Following the completion of the transaction, the insider owned 764,220 shares of the company’s stock, valued at $5,349,540. This trade represents a 9.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,052,924 shares of company stock worth $4,823,092 over the last quarter. Insiders own 1.30% of the company’s stock.

Institutional Trading of Peloton Interactive

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sankala Group LLC bought a new position in Peloton Interactive in the 4th quarter valued at $31,000. Alpine Global Management LLC bought a new position in shares of Peloton Interactive in the fourth quarter worth $183,000. Pacer Advisors Inc. increased its holdings in shares of Peloton Interactive by 17.3% in the fourth quarter. Pacer Advisors Inc. now owns 2,265,780 shares of the company’s stock worth $13,957,000 after purchasing an additional 333,904 shares during the period. Compound Planning Inc. purchased a new stake in shares of Peloton Interactive in the fourth quarter worth $67,000. Finally, Corient Private Wealth LLC raised its position in shares of Peloton Interactive by 44.9% in the fourth quarter. Corient Private Wealth LLC now owns 41,820 shares of the company’s stock worth $258,000 after buying an additional 12,967 shares in the last quarter. Institutional investors own 77.01% of the company’s stock.

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.