Peloton Interactive (NASDAQ:PTON) Sets New 52-Week High – Still a Buy?

Peloton Interactive, Inc. (NASDAQ:PTON) shares hit a new 52-week high on Wednesday . The stock traded as high as $10.40 and last traded at $9.86, with a volume of 17269035 shares. The stock had previously closed at $9.55.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PTON. Telsey Advisory Group upped their price objective on Peloton Interactive from $5.00 to $9.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Bank of America raised shares of Peloton Interactive from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $3.75 to $9.00 in a research note on Monday, November 4th. BMO Capital Markets raised their target price on shares of Peloton Interactive from $6.50 to $8.50 and gave the stock a “market perform” rating in a research note on Monday, November 4th. Truist Financial boosted their price target on shares of Peloton Interactive from $6.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, Morgan Stanley raised 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. Fifteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.75.

Peloton Interactive Stock Performance

The firm has a market capitalization of $3.68 billion, a PE ratio of -9.02 and a beta of 1.90. The firm’s 50-day moving average is $7.10 and its 200 day moving average is $4.94.

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

Insider Buying and Selling at Peloton Interactive

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 36,819 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $4.74, for a total transaction of $174,522.06. Following the sale, the chief financial officer now directly owns 171,466 shares of the company’s stock, valued at $812,748.84. This trade represents a 17.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Karen Boone sold 16,925 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $9.64, for a total transaction of $163,157.00. Following the completion of the transaction, the chief executive officer now directly owns 228,217 shares of the company’s stock, valued at approximately $2,200,011.88. This represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 467,358 shares of company stock worth $3,435,118. 1.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Peloton Interactive

A number of hedge funds and other institutional investors have recently made changes to their positions in PTON. Franklin Resources Inc. acquired a new stake in Peloton Interactive in the 3rd quarter worth about $505,000. Sanctuary Advisors LLC purchased a new stake in Peloton Interactive in the third quarter valued at approximately $58,000. XTX Topco Ltd increased its position in Peloton Interactive by 445.2% during the third quarter. XTX Topco Ltd now owns 350,570 shares of the company’s stock worth $1,641,000 after purchasing an additional 286,268 shares during the last quarter. National Bank of Canada FI raised its stake in Peloton Interactive by 647.5% during the third quarter. National Bank of Canada FI now owns 28,749 shares of the company’s stock worth $135,000 after purchasing an additional 24,903 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in shares of Peloton Interactive by 2.9% in the 3rd quarter. Two Sigma Advisers LP now owns 7,440,900 shares of the company’s stock valued at $34,823,000 after purchasing an additional 206,500 shares during the last quarter. Hedge funds and other institutional investors 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.