Peloton Interactive (NASDAQ:PTON) Shares Gap Up to $3.02

Peloton Interactive, Inc. (NASDAQ:PTON) shares gapped up prior to trading on Wednesday . The stock had previously closed at $3.02, but opened at $3.16. Peloton Interactive shares last traded at $2.98, with a volume of 2,743,474 shares changing hands.

Wall Street Analysts Forecast Growth

PTON has been the topic of a number of analyst reports. BMO Capital Markets reduced their target price on shares of Peloton Interactive from $7.50 to $6.50 and set a “market perform” rating on the stock in a research note on Friday, May 3rd. Sanford C. Bernstein cut Peloton Interactive from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $8.00 to $3.80 in a report on Friday, May 3rd. Roth Mkm lowered their price objective on Peloton Interactive from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. JPMorgan Chase & Co. reduced their target price on Peloton Interactive from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.09.

Peloton Interactive Trading Down 3.6 %

The stock’s fifty day simple moving average is $3.51 and its 200-day simple moving average is $3.84.

Insider Activity

In related news, CFO Elizabeth F. Coddington sold 8,923 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $3.68, for a total transaction of $32,836.64. Following the completion of the transaction, the chief financial officer now directly owns 186,466 shares of the company’s stock, valued at approximately $686,194.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Elizabeth F. Coddington sold 8,923 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $3.68, for a total value of $32,836.64. Following the sale, the chief financial officer now owns 186,466 shares of the company’s stock, valued at $686,194.88. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew S. Rendich sold 27,741 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $3.91, for a total transaction of $108,467.31. Following the transaction, the insider now owns 113,288 shares of the company’s stock, valued at approximately $442,956.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,554 shares of company stock worth $296,182. Corporate insiders own 3.28% of the company’s stock.

Institutional Trading of Peloton Interactive

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. increased its holdings 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 acquiring an additional 1,921 shares during the last quarter. Abundance Wealth Counselors boosted its holdings in Peloton Interactive by 24.7% in the second quarter. Abundance Wealth Counselors now owns 13,380 shares of the company’s stock valued at $45,000 after purchasing an additional 2,654 shares in the last quarter. Signaturefd LLC boosted its holdings in Peloton Interactive by 2.7% in the second quarter. Signaturefd LLC now owns 113,645 shares of the company’s stock valued at $384,000 after purchasing an additional 3,032 shares in the last quarter. Arizona State Retirement System increased its stake in Peloton Interactive by 3.8% in the second quarter. Arizona State Retirement System now owns 92,781 shares of the company’s stock valued at $314,000 after purchasing an additional 3,377 shares during the last quarter. Finally, Private Advisor Group LLC raised its holdings in Peloton Interactive by 11.5% during the fourth quarter. Private Advisor Group LLC now owns 37,373 shares of the company’s stock worth $228,000 after purchasing an additional 3,855 shares in the last quarter. 77.01% of the stock is currently owned by institutional investors and hedge funds.

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.