Peloton Interactive (NASDAQ:PTON) Sees Strong Trading Volume

Peloton Interactive, Inc. (NASDAQ:PTON) shares saw strong trading volume on Tuesday . 17,525,454 shares changed hands during trading, an increase of 17% from the previous session’s volume of 15,017,558 shares.The stock last traded at $4.11 and had previously closed at $3.54.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Oppenheimer reiterated an “outperform” rating on shares of Peloton Interactive in a report on Tuesday. Truist Financial lowered their price objective on shares of Peloton Interactive from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, February 2nd. JPMorgan Chase & Co. decreased their price target on shares of Peloton Interactive from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Friday. Citigroup downgraded shares of Peloton Interactive from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $8.00 to $4.00 in a research note on Monday. Finally, Roth Mkm cut their price objective on Peloton Interactive from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.70.

Peloton Interactive Trading Up 17.8 %

The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -1.96 and a beta of 2.01. The firm’s 50 day simple moving average is $3.90 and its two-hundred day simple moving average is $4.86.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The firm had revenue of $717.70 million for the quarter, compared to the consensus estimate of $720.85 million. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.79) EPS. As a group, equities research analysts anticipate that Peloton Interactive, Inc. will post -1.61 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Elizabeth F. Coddington sold 8,977 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.34, for a total transaction of $38,960.18. Following the completion of the transaction, the chief financial officer now owns 104,428 shares of the company’s stock, valued at approximately $453,217.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

A number of institutional investors have recently modified their holdings of PTON. Vanguard Group Inc. increased its holdings in Peloton Interactive by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 29,603,777 shares of the company’s stock worth $149,499,000 after purchasing an additional 248,314 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Peloton Interactive by 11.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,232,786 shares of the company’s stock worth $11,276,000 after purchasing an additional 234,729 shares in the last quarter. Clear Harbor Asset Management LLC acquired a new position in Peloton Interactive in the 4th quarter worth about $78,000. Mak Capital One LLC acquired a new position in Peloton Interactive in the 3rd quarter worth about $4,932,000. Finally, TB Alternative Assets Ltd. increased its holdings in Peloton Interactive by 31.0% in the 4th quarter. TB Alternative Assets Ltd. now owns 1,014,400 shares of the company’s stock worth $6,178,000 after purchasing an additional 240,300 shares in the last quarter. Institutional investors and hedge funds 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.