Peloton Interactive (NASDAQ:PTON) Shares Up 4.5% – Should You Buy?

Peloton Interactive, Inc. (NASDAQ:PTON)’s stock price was up 4.5% during trading on Tuesday . The company traded as high as $6.43 and last traded at $6.58. Approximately 3,631,094 shares traded hands during trading, a decline of 77% from the average daily volume of 15,477,961 shares. The stock had previously closed at $6.29.

Analyst Ratings Changes

A number of brokerages have weighed in on PTON. The Goldman Sachs Group decreased their target price on Peloton Interactive from $10.00 to $7.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. Telsey Advisory Group dropped their target price on Peloton Interactive from $9.00 to $8.00 and set a “market perform” rating on the stock in a research note on Friday, May 9th. JPMorgan Chase & Co. lowered their price objective on shares of Peloton Interactive from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a research report on Friday, May 9th. Finally, Macquarie upgraded Peloton Interactive from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $9.00 to $10.00 in a research report on Tuesday, May 13th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Peloton Interactive has a consensus rating of “Hold” and an average target price of $8.30.

Peloton Interactive Stock Up 6.6%

The firm’s fifty day moving average is $6.24 and its 200-day moving average is $7.80. The stock has a market capitalization of $2.61 billion, a PE ratio of -8.71 and a beta of 2.25.

Peloton Interactive (NASDAQ:PTON) last posted its earnings results on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The business had revenue of $624.00 million during the quarter, compared to the consensus estimate of $620.39 million. During the same quarter last year, the firm posted ($0.45) EPS. The business’s quarterly revenue was down 13.1% compared to the same quarter last year. On average, analysts expect that Peloton Interactive, Inc. will post -0.36 EPS for the current year.

Insiders Place Their Bets

In related news, insider Dion C. Sanders sold 122,036 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $6.25, for a total transaction of $762,725.00. Following the completion of the sale, the insider now owns 114,318 shares of the company’s stock, valued at $714,487.50. This represents a 51.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew S. Rendich sold 17,401 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $8.18, for a total value of $142,340.18. Following the completion of the sale, the insider now directly owns 362,573 shares in the company, valued at approximately $2,965,847.14. This trade represents a 4.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 834,955 shares of company stock worth $5,557,466 over the last three months. 1.34% of the stock is owned by insiders.

Institutional Trading of Peloton Interactive

A number of large investors have recently modified their holdings of PTON. Townsquare Capital LLC increased its position in Peloton Interactive by 6.5% in the 4th quarter. Townsquare Capital LLC now owns 19,280 shares of the company’s stock valued at $168,000 after acquiring an additional 1,172 shares during the period. Comerica Bank increased its position in shares of Peloton Interactive by 29.1% in the fourth quarter. Comerica Bank now owns 6,164 shares of the company’s stock worth $54,000 after acquiring an additional 1,389 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Peloton Interactive by 9.1% in the fourth quarter. Cetera Investment Advisers now owns 17,144 shares of the company’s stock valued at $149,000 after purchasing an additional 1,432 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Peloton Interactive by 3.8% in the 4th quarter. Victory Capital Management Inc. now owns 42,084 shares of the company’s stock worth $366,000 after acquiring an additional 1,534 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Peloton Interactive by 0.3% during the first quarter. Federated Hermes Inc. now owns 533,820 shares of the company’s stock worth $3,374,000 after purchasing an additional 1,643 shares during the period. Institutional investors and hedge funds own 77.01% of the company’s stock.

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.