Peloton Interactive (NASDAQ:PTON) Shares Up 6.4% – Should You Buy?

Peloton Interactive, Inc. (NASDAQ:PTON)’s share price was up 6.4% during mid-day trading on Thursday . The company traded as high as $10.04 and last traded at $9.96. Approximately 3,755,931 shares changed hands during trading, a decline of 77% from the average daily volume of 16,065,721 shares. The stock had previously closed at $9.36.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PTON shares. Telsey Advisory Group increased their price objective on Peloton Interactive from $5.00 to $9.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a research note on Friday, November 1st. Macquarie increased their target price on Peloton Interactive from $4.90 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their price target on Peloton Interactive from $5.00 to $7.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a report on Thursday, October 3rd. Sixteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.97.

Peloton Interactive Stock Up 8.3 %

The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of -9.48 and a beta of 1.90. The company’s 50 day moving average price is $8.45 and its 200 day moving average price is $5.56.

Peloton Interactive (NASDAQ:PTON) last posted its earnings results on Thursday, October 31st. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The firm had revenue of $586.00 million during the quarter, compared to analysts’ expectations of $572.97 million. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.44) EPS. As a group, analysts expect that Peloton Interactive, Inc. will post -0.38 earnings per share for the current year.

Insider Buying and Selling at Peloton Interactive

In other news, CEO Chris Bruzzo sold 24,977 shares of Peloton Interactive stock in a transaction on Friday, October 18th. The shares were sold at an average price of $5.80, for a total value of $144,866.60. Following the transaction, the chief executive officer now directly owns 149,240 shares of the company’s stock, valued at $865,592. The trade was a 14.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Karen Boone sold 16,925 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $9.64, for a total transaction 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. The trade was a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 430,539 shares of company stock valued at $3,260,596 over the last quarter. 1.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Atomi Financial Group Inc. purchased a new position in shares of Peloton Interactive during the second quarter valued at approximately $55,000. HB Wealth Management LLC purchased a new stake in Peloton Interactive during the 2nd quarter worth $40,000. Arkadios Wealth Advisors acquired a new position in Peloton Interactive in the 2nd quarter worth $37,000. Banco Santander S.A. purchased a new position in Peloton Interactive in the 2nd quarter valued at about $78,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Peloton Interactive by 31.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 79,619 shares of the company’s stock worth $269,000 after acquiring an additional 19,034 shares during the last quarter. 77.01% of the stock is currently owned by institutional investors and hedge funds.

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.