Peloton Interactive (NASDAQ:PTON) Trading Up 4.7% – Still a Buy?

Peloton Interactive, Inc. (NASDAQ:PTON) traded up 4.7% during mid-day trading on Wednesday . The company traded as high as $6.61 and last traded at $6.76. 573,603 shares traded hands during trading, a decline of 96% from the average session volume of 15,799,973 shares. The stock had previously closed at $6.46.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Citigroup cut their price target on shares of Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $11.00 price objective on shares of Peloton Interactive in a research report on Monday, February 3rd. UBS Group raised shares of Peloton Interactive from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $2.50 to $10.00 in a research report on Friday, December 6th. Macquarie reaffirmed a “neutral” rating and set a $9.00 price objective on shares of Peloton Interactive in a research report on Monday, February 10th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a research report on Friday, February 7th. Fifteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $8.69.

Peloton Interactive Stock Performance

The firm has a market capitalization of $2.58 billion, a PE ratio of -8.60 and a beta of 1.95. The company’s 50-day moving average price is $8.02 and its 200-day moving average price is $7.47.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.04). As a group, analysts anticipate that Peloton Interactive, Inc. will post -0.36 earnings per share for the current year.

Insider Transactions at Peloton Interactive

In related news, insider Andrew S. Rendich sold 121,883 shares of Peloton Interactive stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.54, for a total transaction of $1,162,763.82. Following the sale, the insider now directly owns 404,188 shares in the company, valued at $3,855,953.52. This trade represents a 23.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Cunningham Cotter sold 187,238 shares of Peloton Interactive stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $6.45, for a total transaction of $1,207,685.10. Following the sale, the insider now owns 100,269 shares in the company, valued at $646,735.05. This represents a 65.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 691,597 shares of company stock valued at $5,671,783. Insiders own 1.34% of the company’s stock.

Institutional Trading of Peloton Interactive

Several hedge funds and other institutional investors have recently made changes to their positions in PTON. Los Angeles Capital Management LLC purchased a new stake in shares of Peloton Interactive in the third quarter valued at about $212,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Peloton Interactive in the third quarter valued at about $5,724,000. Intech Investment Management LLC purchased a new stake in shares of Peloton Interactive in the third quarter valued at about $327,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Peloton Interactive in the third quarter valued at about $981,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Peloton Interactive by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,996,356 shares of the company’s stock valued at $18,703,000 after acquiring an additional 291,946 shares in the last quarter. Hedge funds and other institutional investors own 77.01% of the company’s stock.

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.