Peloton Interactive (NASDAQ:PTON) Shares Gap Up – Time to Buy?

Peloton Interactive, Inc. (NASDAQ:PTON)’s stock price 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.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PTON shares. Macquarie upped their price objective on Peloton Interactive from $4.90 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 1st. BMO Capital Markets increased their price target on shares of Peloton Interactive from $6.50 to $8.50 and gave the company a “market perform” rating in a research report on Monday, November 4th. Truist Financial boosted their price objective on shares of Peloton Interactive from $6.00 to $10.00 and gave the company a “hold” rating in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on shares of Peloton Interactive from $5.00 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a research report on Thursday. Sixteen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.10.

Peloton Interactive Trading Up 13.9 %

The business has a 50 day moving average price of $8.99 and a 200-day moving average price of $6.59. The company has a market cap of $3.29 billion, a P/E ratio of -8.06 and a beta of 1.95.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). On average, sell-side analysts expect that Peloton Interactive, Inc. will post -0.39 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Andrew S. Rendich sold 138,391 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $7.51, for a total transaction of $1,039,316.41. Following the completion of the sale, the insider now owns 287,973 shares of the company’s stock, valued at approximately $2,162,677.23. This represents a 32.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Saqib Baig sold 36,776 shares of Peloton Interactive stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $7.53, for a total transaction of $276,923.28. Following the completion of the transaction, the chief accounting officer now directly owns 137,357 shares in the company, valued at $1,034,298.21. This trade represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 395,813 shares of company stock worth $3,041,724 in the last 90 days. Company insiders own 1.34% of the company’s stock.

Institutional Trading of Peloton Interactive

Several hedge funds and other institutional investors have recently made changes to their positions in PTON. R Squared Ltd acquired a new stake in Peloton Interactive during the fourth quarter worth approximately $28,000. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Peloton Interactive by 31.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock valued at $31,000 after acquiring an additional 1,597 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Peloton Interactive during the 4th quarter valued at $69,000. Jones Financial Companies Lllp boosted its stake in Peloton Interactive by 33.9% during the fourth quarter. Jones Financial Companies Lllp now owns 9,496 shares of the company’s stock worth $83,000 after acquiring an additional 2,403 shares in the last quarter. Finally, Matauro LLC acquired a new stake in Peloton Interactive in the fourth quarter worth $90,000. 77.01% of the stock is currently owned by institutional investors.

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.