Peloton Interactive (NASDAQ:PTON) Stock Price Up 7%

Peloton Interactive, Inc. (NASDAQ:PTON) rose 7% on Friday . The stock traded as high as $3.61 and last traded at $3.35. Approximately 13,500,116 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 14,675,162 shares. The stock had previously closed at $3.13.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PTON shares. Telsey Advisory Group reissued a “market perform” rating and set a $4.00 price target (down previously from $5.00) on shares of Peloton Interactive in a report on Monday. Morgan Stanley assumed coverage on Peloton Interactive in a research report on Monday, March 11th. They set an “equal weight” rating and a $3.00 price objective on the stock. The Goldman Sachs Group reduced 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. JPMorgan Chase & Co. reduced their price target on Peloton Interactive from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Sanford C. Bernstein lowered Peloton Interactive from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $8.00 to $3.80 in a research report on Friday. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.15.

Peloton Interactive Stock Performance

The business has a 50 day moving average of $3.94 and a two-hundred day moving average of $4.88. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -1.40 and a beta of 2.01.

Peloton Interactive (NASDAQ:PTON) last posted 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 company had revenue of $717.70 million during the quarter, compared to analyst estimates of $720.85 million. During the same quarter in the prior year, the business posted ($0.79) earnings per share. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities analysts predict that Peloton Interactive, Inc. will post -1.61 EPS for the current fiscal year.

Insider Transactions at Peloton Interactive

In other news, CFO Elizabeth F. Coddington sold 8,977 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was 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 directly owns 104,428 shares of the company’s stock, valued at $453,217.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Several institutional investors have recently modified their holdings of PTON. Capital World Investors grew its holdings in shares of Peloton Interactive by 17.6% in the fourth quarter. Capital World Investors now owns 26,259,325 shares of the company’s stock valued at $159,919,000 after acquiring an additional 3,925,000 shares in the last quarter. Norges Bank bought a new position in Peloton Interactive during the fourth quarter valued at $20,824,000. DNB Asset Management AS grew its holdings in Peloton Interactive by 31.7% during the fourth quarter. DNB Asset Management AS now owns 8,386,903 shares of the company’s stock valued at $51,076,000 after purchasing an additional 2,020,159 shares during the period. Patient Capital Management LLC grew its holdings in Peloton Interactive by 32.7% during the fourth quarter. Patient Capital Management LLC now owns 6,196,285 shares of the company’s stock valued at $37,735,000 after purchasing an additional 1,527,471 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Peloton Interactive by 612.1% during the third quarter. AQR Capital Management LLC now owns 1,235,350 shares of the company’s stock valued at $6,239,000 after purchasing an additional 1,061,868 shares during the period. 77.01% of the stock is owned by institutional investors.

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.