Peloton Interactive (NASDAQ:PTON) Shares Up 4.2% – Here’s What Happened

Peloton Interactive, Inc. (NASDAQ:PTON) shares were up 4.2% on Friday. The company traded as high as $5.80 and last traded at $5.7650. 601,130 shares were traded during trading, a decline of 95% from the average daily volume of 11,488,001 shares. The stock had previously closed at $5.53.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Zacks Research raised Peloton Interactive from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 5th. Canaccord Genuity Group cut their price target on Peloton Interactive from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, October 30th. Weiss Ratings raised Peloton Interactive from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 2nd. Morgan Stanley lowered shares of Peloton Interactive from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $5.00 to $4.50 in a research report on Tuesday, September 8th. Finally, Telsey Advisory Group reiterated a “market perform” rating on shares of Peloton Interactive in a research report on Friday, November 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.11.

Peloton Interactive Stock Performance

The stock has a 50-day simple moving average of $5.17 and a 200 day simple moving average of $5.21. The stock has a market capitalization of $2.51 billion, a P/E ratio of 20.45, a price-to-earnings-growth ratio of 0.44 and a beta of 2.56.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.08. Peloton Interactive had a net margin of 5.92% and a negative return on equity of 81.50%. The business had revenue of $559.20 million during the quarter, compared to the consensus estimate of $553.46 million. During the same period in the previous year, the firm posted $0.03 earnings per share. Peloton Interactive’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities analysts predict that Peloton Interactive, Inc. will post 0.36 earnings per share for the current year.

Insider Activity at Peloton Interactive

In other news, Director Karen Boone sold 25,000 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $5.35, for a total transaction of $133,750.00. Following the completion of the sale, the director owned 236,063 shares of the company’s stock, valued at $1,262,937.05. This represents a 9.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dion Sanders sold 112,512 shares of Peloton Interactive stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $5.45, for a total transaction of $613,190.40. Following the completion of the sale, the insider owned 18,801 shares in the company, valued at $102,465.45. This trade represents a 85.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 217,712 shares of company stock worth $1,177,289 over the last ninety days. 1.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Peloton Interactive

Institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of Peloton Interactive by 10.2% during the first quarter. Principal Financial Group Inc. now owns 21,263 shares of the company’s stock worth $91,000 after purchasing an additional 1,967 shares during the period. NewEdge Advisors LLC boosted its holdings in Peloton Interactive by 21.8% in the 1st quarter. NewEdge Advisors LLC now owns 12,405 shares of the company’s stock valued at $53,000 after purchasing an additional 2,223 shares during the period. GAMMA Investing LLC grew its position in shares of Peloton Interactive by 58.9% during the 3rd quarter. GAMMA Investing LLC now owns 6,992 shares of the company’s stock worth $35,000 after purchasing an additional 2,593 shares in the last quarter. Wealthfront Advisers LLC grew its position in shares of Peloton Interactive by 15.7% during the 1st quarter. Wealthfront Advisers LLC now owns 19,118 shares of the company’s stock worth $82,000 after purchasing an additional 2,595 shares in the last quarter. Finally, Wedmont Private Capital grew its position in shares of Peloton Interactive by 15.4% during the 3rd quarter. Wedmont Private Capital now owns 19,633 shares of the company’s stock worth $97,000 after purchasing an additional 2,624 shares in the last quarter. Institutional investors own 77.01% of the company’s stock.

About Peloton Interactive

Peloton Interactive is a connected fitness company that combines exercise equipment, digital fitness content and subscription services. Founded in 2012, the company became known for bringing instructor-led workouts into members’ homes through internet-connected equipment. Its products include stationary bikes, treadmills and rowing machines, along with accessories and the Peloton app. Members can access live and on-demand classes across activities such as cycling, running, strength training, yoga and meditation; some classes are available without Peloton equipment.