Peloton Interactive (NASDAQ:PTON) Hits New 52-Week High – What’s Next?

Peloton Interactive, Inc. (NASDAQ:PTON)’s share price hit a new 52-week high on Thursday . The company traded as high as $8.39 and last traded at $8.31, with a volume of 10527972 shares changing hands. The stock had previously closed at $6.65.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Macquarie upped their price objective on Peloton Interactive from $4.90 to $9.00 and gave the stock a “neutral” rating in a report on Friday. TD Cowen raised their price target on Peloton Interactive from $3.00 to $4.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Wolfe Research assumed coverage on Peloton Interactive in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a research note on Friday. Finally, Robert W. Baird lifted their price target on shares of Peloton Interactive from $4.75 to $8.00 and gave the stock a “neutral” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.98.

Peloton Interactive Price Performance

The company’s 50-day moving average price is $5.11 and its 200-day moving average price is $4.06. The company has a market cap of $2.73 billion, a P/E ratio of -4.80 and a beta of 2.04.

Peloton Interactive (NASDAQ:PTON) last released its earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business had revenue of $586.00 million during the quarter, compared to analysts’ expectations of $572.97 million. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.44) EPS. On average, equities research analysts predict that Peloton Interactive, Inc. will post -0.65 EPS for the current year.

Insider Buying and Selling at Peloton Interactive

In other news, CEO Chris Bruzzo sold 24,977 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $5.80, for a total transaction of $144,866.60. Following the completion of the transaction, the chief executive officer now directly owns 149,240 shares of the company’s stock, valued at $865,592. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Nick V. Caldwell purchased 31,337 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average cost of $4.25 per share, for a total transaction of $133,182.25. Following the completion of the purchase, the insider now directly owns 31,337 shares in the company, valued at $133,182.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Chris Bruzzo sold 24,977 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $5.80, for a total value of $144,866.60. Following the sale, the chief executive officer now owns 149,240 shares in the company, valued at approximately $865,592. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 167,880 shares of company stock worth $815,767. Corporate insiders own 1.34% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV bought a new position in shares of Peloton Interactive in the 2nd quarter valued at about $27,000. Skylands Capital LLC bought a new position in Peloton Interactive during the second quarter worth about $30,000. Nisa Investment Advisors LLC increased its position in Peloton Interactive by 1,836.7% during 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 during the last quarter. Sheaff Brock Investment Advisors LLC bought a new stake in Peloton Interactive in the first quarter valued at approximately $44,000. Finally, Schneider Downs Wealth Management Advisors LP acquired a new stake in shares of Peloton Interactive in the second quarter valued at approximately $35,000. 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.