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

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) gapped up prior to trading on Thursday . The stock had previously closed at $7.58, but opened at $8.91. Peloton Interactive shares last traded at $8.72, with a volume of 17,493,053 shares changing hands.

Analyst Upgrades and Downgrades

PTON has been the subject of several research reports. Sanford C. Bernstein boosted their price target on shares of Peloton Interactive from $4.25 to $6.50 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Bank of America raised Peloton Interactive from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $3.75 to $9.00 in a research note on Monday, November 4th. JPMorgan Chase & Co. lifted their price objective on Peloton Interactive from $5.00 to $7.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Robert W. Baird upped their target price on shares of Peloton Interactive from $4.75 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, UBS Group upgraded shares of Peloton Interactive from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $2.50 to $10.00 in a research note on Friday, December 6th. Sixteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.10.

Peloton Interactive Stock Performance

The company’s 50-day simple moving average is $8.92 and its 200-day simple moving average is $6.63. The company has a market capitalization of $3.19 billion, a PE ratio of -10.87 and a beta of 1.95.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.04). Analysts expect that Peloton Interactive, Inc. will post -0.39 EPS for the current year.

Insider Buying and Selling

In other Peloton Interactive news, CAO Saqib Baig sold 36,776 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $7.53, for a total value of $276,923.28. Following the completion of the transaction, the chief accounting officer now owns 137,357 shares in the company, valued at approximately $1,034,298.21. This represents a 21.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Karen Boone sold 17,259 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $8.63, for a total transaction of $148,945.17. Following the transaction, the director now directly owns 244,641 shares in the company, valued at approximately $2,111,251.83. This trade represents a 6.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 395,813 shares of company stock valued at $3,041,724 over the last ninety days. Corporate insiders own 1.34% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new stake in shares of Peloton Interactive during the 4th quarter valued at approximately $28,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in Peloton Interactive by 31.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock valued at $31,000 after purchasing an additional 1,597 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Peloton Interactive in the fourth quarter valued at $69,000. Jones Financial Companies Lllp raised its stake in shares of Peloton Interactive by 33.9% during the 4th quarter. Jones Financial Companies Lllp now owns 9,496 shares of the company’s stock worth $83,000 after buying an additional 2,403 shares during the last quarter. Finally, Matauro LLC purchased a new stake in shares of Peloton Interactive in the 4th quarter worth about $90,000. 77.01% of the stock is currently owned by institutional investors and hedge funds.

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.