Peloton Interactive (NASDAQ:PTON) Trading Up 6.6% – What’s Next?

Peloton Interactive, Inc. (NASDAQ:PTON) shot up 6.6% during mid-day trading on Monday . The stock traded as high as $6.51 and last traded at $6.5220. 2,415,216 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 13,164,085 shares. The stock had previously closed at $6.12.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PTON. The Goldman Sachs Group increased their target price on Peloton Interactive from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Wall Street Zen raised shares of Peloton Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Telsey Advisory Group reaffirmed a “market perform” rating on shares of Peloton Interactive in a report on Wednesday, May 27th. Weiss Ratings raised Peloton Interactive from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Finally, UBS Group reaffirmed a “buy” rating on shares of Peloton Interactive in a research note on Monday, June 15th. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $8.25.

Peloton Interactive Trading Up 5.8%

The business’s 50-day simple moving average is $5.75 and its 200 day simple moving average is $5.24. The company has a market capitalization of $2.80 billion, a P/E ratio of 162.17, a P/E/G ratio of 0.45 and a beta of 2.52.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). Peloton Interactive had a net margin of 0.94% and a negative return on equity of 6.95%. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. Peloton Interactive’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, sell-side analysts predict that Peloton Interactive, Inc. will post 0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Dion C. Sanders sold 112,523 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $5.19, for a total value of $583,994.37. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Saqib Baig sold 29,075 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.27, for a total value of $153,225.25. Following the completion of the sale, the chief financial officer owned 250,019 shares of the company’s stock, valued at approximately $1,317,600.13. This trade represents a 10.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 172,571 shares of company stock valued at $906,269. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PTON. Vanguard Group Inc. boosted its position in shares of Peloton Interactive by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 39,227,591 shares of the company’s stock valued at $241,642,000 after purchasing an additional 591,300 shares in the last quarter. Eminence Capital LP lifted its stake in Peloton Interactive by 20.3% during the fourth quarter. Eminence Capital LP now owns 18,154,907 shares of the company’s stock valued at $111,834,000 after purchasing an additional 3,069,497 shares during the last quarter. DNB Asset Management AS lifted its stake in Peloton Interactive by 142.4% during the fourth quarter. DNB Asset Management AS now owns 10,776,627 shares of the company’s stock valued at $66,384,000 after purchasing an additional 6,331,510 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Peloton Interactive by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 9,741,115 shares of the company’s stock worth $60,015,000 after buying an additional 369,614 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Peloton Interactive by 27.1% during the first quarter. Goldman Sachs Group Inc. now owns 7,056,642 shares of the company’s stock worth $44,598,000 after buying an additional 1,503,680 shares in the last quarter. 77.01% of the stock is owned by institutional investors and hedge funds.

About Peloton Interactive

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.