Peloton Interactive (NASDAQ:PTON) Shares Gap Up – Here’s Why

Peloton Interactive, Inc. (NASDAQ:PTON) shares gapped up before the market opened on Tuesday . The stock had previously closed at $5.40, but opened at $5.60. Peloton Interactive shares last traded at $5.34, with a volume of 2,571,371 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PTON shares. Roth Mkm upped their price objective on shares of Peloton Interactive from $5.00 to $6.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Morgan Stanley upped their price objective on shares of Peloton Interactive from $2.50 to $3.50 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Wolfe Research started coverage on shares of Peloton Interactive in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Macquarie reiterated a “neutral” rating and issued a $2.53 price objective on shares of Peloton Interactive in a report on Thursday, August 22nd. Finally, TD Cowen upped their price objective on shares of Peloton Interactive from $3.00 to $4.00 and gave the company a “hold” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $4.52.

Peloton Interactive Trading Up 1.0 %

The business’s 50 day moving average price is $4.39 and its two-hundred day moving average price is $3.84. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -2.49 and a beta of 2.04.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, August 22nd. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.10. The firm had revenue of $644.00 million for the quarter, compared to the consensus estimate of $633.00 million. During the same quarter in the previous year, the business posted ($0.68) EPS. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. Analysts expect that Peloton Interactive, Inc. will post -0.65 EPS for the current year.

Insider Activity

In other news, CFO Elizabeth F. Coddington sold 56,084 shares of Peloton Interactive stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.50, for a total value of $252,378.00. Following the completion of the sale, the chief financial officer now owns 186,466 shares in the company, valued at $839,097. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Chris Bruzzo sold 15,113 shares of Peloton Interactive stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $3.42, for a total value of $51,686.46. Following the completion of the sale, the chief executive officer now owns 97,433 shares of the company’s stock, valued at approximately $333,220.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Elizabeth F. Coddington sold 56,084 shares of Peloton Interactive stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.50, for a total transaction of $252,378.00. Following the completion of the sale, the chief financial officer now directly owns 186,466 shares of the company’s stock, valued at approximately $839,097. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 158,016 shares of company stock worth $722,587 in the last quarter. 3.28% of the stock is owned by corporate insiders.

Institutional Trading of Peloton Interactive

Several hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its holdings in Peloton Interactive by 25,397.7% during the 1st quarter. Russell Investments Group Ltd. now owns 393,685 shares of the company’s stock worth $1,687,000 after acquiring an additional 392,141 shares during the last quarter. Select Equity Group L.P. purchased a new position in Peloton Interactive during the 2nd quarter worth $1,832,000. Vanguard Group Inc. boosted its holdings in Peloton Interactive by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock worth $135,212,000 after acquiring an additional 1,215,397 shares during the last quarter. Swiss National Bank boosted its holdings in Peloton Interactive by 1.2% during the 1st quarter. Swiss National Bank now owns 642,200 shares of the company’s stock worth $2,752,000 after acquiring an additional 7,600 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Peloton Interactive by 253.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 181,589 shares of the company’s stock worth $614,000 after acquiring an additional 130,242 shares during the last quarter. Institutional investors and hedge funds own 77.01% of the company’s stock.

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.