Peloton Interactive (NASDAQ:PTON) Shares Gap Up to $3.22

Peloton Interactive, Inc. (NASDAQ:PTON)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $3.22, but opened at $3.61. Peloton Interactive shares last traded at $3.13, with a volume of 13,967,996 shares changing hands.

Analyst Ratings Changes

PTON has been the subject of a number of analyst reports. Bank of America cut their price objective on shares of Peloton Interactive from $4.00 to $3.25 and set an “underperform” rating for the company in a research report on Monday. Morgan Stanley began coverage on shares of Peloton Interactive in a research note on Monday, March 11th. They set an “equal weight” rating and a $3.00 price objective for the company. Telsey Advisory Group reiterated a “market perform” rating and set a $4.00 price objective (down from $5.00) on shares of Peloton Interactive in a research note on Monday. The Goldman Sachs Group decreased their price objective on shares of Peloton Interactive from $6.50 to $5.75 and set a “neutral” rating for the company in a research note on Friday, February 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Peloton Interactive from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Friday, February 2nd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.40.

Peloton Interactive Price Performance

The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -1.19 and a beta of 2.02. The firm’s fifty day moving average is $3.97 and its 200-day moving average is $4.89.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, February 1st. The company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.01. The company had revenue of $743.60 million during the quarter, compared to analyst estimates of $733.17 million. The company’s revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.98) earnings per share. On average, sell-side analysts expect that Peloton Interactive, Inc. will post -1.6 EPS for the current year.

Insiders Place Their Bets

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $4.34, for a total transaction of $38,960.18. Following the sale, the chief financial officer now directly owns 104,428 shares of the company’s stock, valued at $453,217.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Peloton Interactive

Several institutional investors have recently modified their holdings of PTON. Commonwealth Equity Services LLC grew its position in shares of Peloton Interactive by 162.0% during the third quarter. Commonwealth Equity Services LLC now owns 129,454 shares of the company’s stock worth $654,000 after acquiring an additional 80,047 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Peloton Interactive by 149.3% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 55,612 shares of the company’s stock worth $281,000 after acquiring an additional 33,307 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Peloton Interactive by 73.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 30,062 shares of the company’s stock worth $152,000 after acquiring an additional 12,697 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Peloton Interactive by 18.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,050 shares of the company’s stock worth $258,000 after acquiring an additional 7,875 shares during the last quarter. Finally, Calamos Wealth Management LLC grew its position in shares of Peloton Interactive by 1.2% during the third quarter. Calamos Wealth Management LLC now owns 824,714 shares of the company’s stock worth $4,165,000 after acquiring an additional 10,100 shares during the last quarter. 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.