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

Peloton Interactive, Inc. (NASDAQ:PTON) shares 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 traded.

Analyst Ratings Changes

A number of analysts recently commented on the stock. UBS Group upgraded shares of Peloton Interactive from a “sell” rating to a “neutral” rating and upped their price target for the company from $2.50 to $10.00 in a research note on Friday, December 6th. Citigroup dropped their target price on Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Canaccord Genuity Group upgraded Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Friday. Macquarie reissued a “neutral” rating and set a $9.00 price objective on shares of Peloton Interactive in a report on Monday, February 10th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a report on Friday, February 7th. Fifteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $8.69.

Peloton Interactive Stock Performance

The stock’s 50 day simple moving average is $8.16 and its 200 day simple moving average is $7.39. The firm has a market cap of $2.68 billion, a PE ratio of -8.94 and a beta of 1.95.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). As a group, analysts anticipate that Peloton Interactive, Inc. will post -0.36 earnings per share for the current year.

Insider Transactions at Peloton Interactive

In other Peloton Interactive news, CAO Saqib Baig sold 22,662 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $9.75, for a total value of $220,954.50. Following the completion of the sale, the chief accounting officer now directly owns 130,031 shares of the company’s stock, valued at $1,267,802.25. The trade was a 14.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Andrew S. Rendich sold 121,883 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $9.54, for a total value of $1,162,763.82. Following the transaction, the insider now directly owns 404,188 shares in the company, valued at $3,855,953.52. This trade represents a 23.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 584,719 shares of company stock worth $4,958,301. 1.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Peloton Interactive

A number of large investors have recently bought and sold shares of the stock. Los Angeles Capital Management LLC bought a new position in shares of Peloton Interactive in the third quarter worth approximately $212,000. Versor Investments LP purchased a new position in shares of Peloton Interactive in the third quarter valued at about $415,000. GSA Capital Partners LLP purchased a new stake in shares of Peloton Interactive during the third quarter worth about $1,164,000. Marathon Trading Investment Management LLC bought a new stake in shares of Peloton Interactive in the third quarter worth about $152,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Peloton Interactive during the 3rd quarter valued at about $5,724,000. 77.01% of the stock is owned by hedge funds and other institutional investors.

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.