Peloton Interactive (NASDAQ:PTON) Sees Unusually-High Trading Volume

Peloton Interactive, Inc. (NASDAQ:PTON) shares saw unusually-strong trading volume on Tuesday . Approximately 17,525,454 shares traded 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.

Wall Street Analysts Forecast Growth

PTON has been the topic of a number of research analyst reports. The Goldman Sachs Group dropped their price target on Peloton Interactive from $5.75 to $3.50 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Bank of America dropped their price objective on shares of Peloton Interactive from $4.00 to $3.25 and set an “underperform” rating on the stock in a report on Monday, April 29th. Citigroup cut Peloton Interactive from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $8.00 to $4.00 in a report on Monday. Truist Financial cut their price target on Peloton Interactive from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, February 2nd. Finally, Macquarie dropped their target price on Peloton Interactive from $4.50 to $2.53 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.11.

Peloton Interactive Stock Up 13.2 %

The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -2.11 and a beta of 2.01. The company’s fifty day simple moving average is $3.88 and its 200 day simple moving average is $4.85.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Peloton Interactive

Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Peloton Interactive by 6.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 31,983 shares of the company’s stock valued at $195,000 after purchasing an additional 1,921 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Peloton Interactive by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 91,109 shares of the company’s stock valued at $460,000 after acquiring an additional 3,071 shares during the period. Arizona State Retirement System boosted its position in shares of Peloton Interactive by 4.2% during the 3rd quarter. Arizona State Retirement System now owns 90,921 shares of the company’s stock worth $459,000 after purchasing an additional 3,632 shares in the last quarter. M&T Bank Corp grew its stake in Peloton Interactive by 25.4% in the third quarter. M&T Bank Corp now owns 18,002 shares of the company’s stock valued at $91,000 after acquiring an additional 3,643 shares during the period. Finally, Private Advisor Group LLC increased its stake in Peloton Interactive by 11.5% during the 4th quarter. Private Advisor Group LLC now owns 37,373 shares of the company’s stock valued at $228,000 after purchasing an additional 3,855 shares in the last quarter. 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.