Peloton Interactive (NASDAQ:PTON) Shares Gap Up – Time to Buy?

Peloton Interactive, Inc. (NASDAQ:PTON)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $5.48, but opened at $5.66. Peloton Interactive shares last traded at $5.52, with a volume of 4,157,667 shares changing hands.

Wall Street Analysts Forecast Growth

PTON has been the topic of a number of research reports. Wolfe Research initiated coverage on Peloton Interactive in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Canaccord Genuity Group raised their price target on shares of Peloton Interactive from $4.00 to $5.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a report on Thursday, August 22nd. Telsey Advisory Group raised their target price on Peloton Interactive from $4.00 to $5.00 and gave the company a “market perform” rating in a report on Friday, August 23rd. Finally, Roth Mkm upped their price target on Peloton Interactive from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $4.52.

Peloton Interactive Stock Performance

The firm’s 50-day simple moving average is $4.55 and its 200-day simple moving average is $3.87. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of -3.66 and a beta of 2.04.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings results on Thursday, August 22nd. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.10. The firm had revenue of $644.00 million for the quarter, compared to the consensus estimate of $633.00 million. During the same quarter in the prior year, the firm earned ($0.68) earnings per share. The company’s revenue was up .3% on a year-over-year basis. Equities research analysts forecast that Peloton Interactive, Inc. will post -0.65 earnings per share for the current year.

Insider Buying and Selling at Peloton Interactive

In related news, CEO Chris Bruzzo sold 15,113 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $3.42, for a total value of $51,686.46. Following the completion of the transaction, the chief executive officer now owns 97,433 shares of the company’s stock, valued at $333,220.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Peloton Interactive news, CEO Chris Bruzzo sold 15,113 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $3.42, for a total value of $51,686.46. Following the sale, the chief executive officer now directly owns 97,433 shares in the company, valued at $333,220.86. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Saqib Baig sold 50,000 shares of Peloton Interactive stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $4.88, for a total value of $244,000.00. Following the transaction, the chief accounting officer now directly owns 87,014 shares of the company’s stock, valued at approximately $424,628.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 182,993 shares of company stock valued at $867,453 in the last 90 days. 3.28% of the stock is currently owned by company insiders.

Institutional Trading of Peloton Interactive

Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its position in Peloton Interactive by 25,397.7% during the 1st quarter. Russell Investments Group Ltd. now owns 393,685 shares of the company’s stock worth $1,687,000 after buying an additional 392,141 shares in the last quarter. Select Equity Group L.P. acquired a new position in shares of Peloton Interactive during the second quarter worth approximately $1,832,000. The Manufacturers Life Insurance Company grew its stake in shares of Peloton Interactive by 253.7% during the second quarter. The Manufacturers Life Insurance Company now owns 181,589 shares of the company’s stock valued at $614,000 after purchasing an additional 130,242 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Peloton Interactive by 4.0% in the first quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock valued at $135,212,000 after purchasing an additional 1,215,397 shares in the last quarter. Finally, Swiss National Bank raised its position in Peloton Interactive by 1.2% in the 1st quarter. Swiss National Bank now owns 642,200 shares of the company’s stock worth $2,752,000 after purchasing an additional 7,600 shares during the last quarter. Institutional investors and hedge funds own 77.01% of the company’s stock.

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.