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

Peloton Interactive, Inc. (NASDAQ:PTON) gapped up before the market opened 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.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PTON shares. Macquarie reduced their price target on Peloton Interactive from $4.50 to $2.53 and set a “neutral” rating for the company in a research report on Friday. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a report on Friday. Roth Mkm lowered their price target on shares of Peloton Interactive from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday. Bank of America reduced 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 note on Monday, April 29th. Finally, BMO Capital Markets lowered 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. 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.15.

Peloton Interactive Trading Up 9.4 %

The firm has a market cap of $1.26 billion, a P/E ratio of -1.62 and a beta of 2.01. The stock has a 50 day simple moving average of $3.94 and a 200-day simple moving average of $4.88.

Peloton Interactive (NASDAQ:PTON) last posted its 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 for the quarter, compared to analysts’ expectations of $720.85 million. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.79) earnings per share. As a group, equities analysts forecast that Peloton Interactive, Inc. will post -1.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was 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 in the company, valued at $453,217.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Johnson & White Wealth Management LLC purchased a new position in shares of Peloton Interactive during the first quarter valued at approximately $43,000. Abundance Wealth Counselors purchased a new position in Peloton Interactive during the 1st quarter valued at $46,000. Rakuten Securities Inc. bought a new position in Peloton Interactive in the 4th quarter valued at $47,000. Carl P. Sherr & Co. LLC purchased a new stake in Peloton Interactive in the third quarter worth $55,000. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of Peloton Interactive during the fourth quarter valued at $78,000. 77.01% of the stock is owned by hedge funds and other institutional investors.

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.