Peloton Interactive (NASDAQ:PTON) Trading 9.7% Higher

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) were up 9.7% during trading on Thursday . The stock traded as high as $3.18 and last traded at $3.16. Approximately 13,874,259 shares traded hands during trading, a decline of 6% from the average daily volume of 14,790,462 shares. The stock had previously closed at $2.88.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Macquarie dropped their target price on shares of Peloton Interactive from $4.50 to $2.53 and set a “neutral” rating for the company in a report on Friday, May 3rd. JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a research note on Tuesday, July 2nd. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a research note on Friday, May 3rd. Telsey Advisory Group restated a “market perform” rating and issued a $4.00 price target on shares of Peloton Interactive in a research note on Friday. Finally, Sanford C. Bernstein cut shares of Peloton Interactive from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $8.00 to $3.80 in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $5.09.

Peloton Interactive Stock Performance

The company’s fifty day moving average price is $3.47 and its 200-day moving average price is $3.81. The stock has a market cap of $1.19 billion, a P/E ratio of -1.52 and a beta of 2.02.

Insiders Place Their Bets

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,923 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $3.68, for a total value of $32,836.64. Following the transaction, the chief financial officer now owns 186,466 shares of the company’s stock, valued at approximately $686,194.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,923 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $3.68, for a total value of $32,836.64. Following the completion of the sale, 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 filing with the SEC, which is available through this link. Also, insider Andrew S. Rendich sold 27,741 shares of the firm’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 directly owns 113,288 shares in the company, valued at $442,956.08. The disclosure for this sale can be found here. Insiders sold a total of 81,554 shares of company stock valued at $296,182 over the last 90 days. Insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

Hedge funds have recently made changes to their positions in the company. Rakuten Securities Inc. purchased a new stake in Peloton Interactive in the fourth quarter worth about $47,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Peloton Interactive during the second quarter valued at approximately $27,000. Skylands Capital LLC purchased a new position in Peloton Interactive during the second quarter valued at approximately $30,000. Nisa Investment Advisors LLC raised its stake in Peloton Interactive by 1,836.7% in the second quarter. Nisa Investment Advisors LLC now owns 9,490 shares of the company’s stock worth $32,000 after buying an additional 9,000 shares in the last quarter. Finally, Johnson & White Wealth Management LLC purchased a new stake in Peloton Interactive during the first quarter worth $43,000. 77.01% of the stock is currently owned by hedge funds and other 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.