Peloton Interactive (NASDAQ:PTON) Reaches New 12-Month High – Here’s What Happened

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) hit a new 52-week high during trading on Thursday . The company traded as high as $9.09 and last traded at $9.01, with a volume of 13604586 shares changing hands. The stock had previously closed at $8.36.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PTON. Morgan Stanley boosted their price objective on shares of Peloton Interactive from $3.50 to $5.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Bank of America upgraded Peloton Interactive from an “underperform” rating to a “buy” rating and upped their price target for the stock from $3.75 to $9.00 in a research report on Monday, November 4th. Truist Financial lifted their price objective on Peloton Interactive from $6.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, November 1st. JMP Securities reissued a “market perform” rating on shares of Peloton Interactive in a report on Thursday, October 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a report on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.75.

Peloton Interactive Price Performance

The company has a 50-day moving average of $6.21 and a 200 day moving average of $4.59.

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

Insider Activity

In other Peloton Interactive news, CEO Karen Boone sold 13,484 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $8.27, for a total value of $111,512.68. Following the transaction, the chief executive officer now directly owns 211,459 shares in the company, valued at $1,748,765.93. This represents a 5.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elizabeth F. Coddington sold 186,462 shares of Peloton Interactive stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $7.58, for a total transaction of $1,413,381.96. Following the sale, the chief financial officer now directly owns 223,017 shares of the company’s stock, valued at $1,690,468.86. This represents a 45.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 506,517 shares of company stock valued at $3,524,339. 1.34% of the stock is currently owned by insiders.

Institutional Trading of Peloton Interactive

A number of hedge funds have recently added to or reduced their stakes in PTON. PDT Partners LLC raised its holdings in shares of Peloton Interactive by 0.7% in the 3rd quarter. PDT Partners LLC now owns 205,573 shares of the company’s stock valued at $962,000 after purchasing an additional 1,373 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Peloton Interactive by 31.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock worth $31,000 after buying an additional 1,597 shares during the period. Abundance Wealth Counselors boosted its position in Peloton Interactive by 24.7% during the 2nd quarter. Abundance Wealth Counselors now owns 13,380 shares of the company’s stock valued at $45,000 after acquiring an additional 2,654 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Peloton Interactive by 2.7% in the 2nd quarter. Signaturefd LLC now owns 113,645 shares of the company’s stock valued at $384,000 after acquiring an additional 3,032 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of Peloton Interactive by 3.8% during the 2nd quarter. Arizona State Retirement System now owns 92,781 shares of the company’s stock worth $314,000 after purchasing an additional 3,377 shares during the last quarter. 77.01% of the stock is owned by hedge funds and other 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.