Peloton (NASDAQ:PTON) Shares Up 6%

Peloton (NASDAQ:PTON)’s stock price shot up 6% on Thursday . The stock traded as high as $105.74 and last traded at $105.20. 26,707,029 shares were traded during mid-day trading, an increase of 129% from the average session volume of 11,647,315 shares. The stock had previously closed at $99.24.

Several research firms have weighed in on PTON. MKM Partners raised their price target on Peloton from $36.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, September 8th. KeyCorp reiterated a “buy” rating on shares of Peloton in a research report on Monday, September 14th. Wedbush increased their price objective on Peloton from $66.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, September 9th. Zacks Investment Research lowered Peloton from a “buy” rating to a “hold” rating in a research report on Friday, September 4th. Finally, Roth Capital increased their price objective on Peloton from $66.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, September 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $95.79.

The company has a current ratio of 3.32, a quick ratio of 2.96 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $80.17 and a two-hundred day simple moving average of $54.07. The firm has a market cap of $30.37 billion and a PE ratio of -74.08.

Peloton (NASDAQ:PTON) last released its quarterly earnings data on Thursday, September 10th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.17. The business had revenue of $607.10 million during the quarter, compared to analysts’ expectations of $579.67 million. Peloton had a negative return on equity of 4.64% and a negative net margin of 3.93%. The business’s revenue was up 171.9% on a year-over-year basis. During the same quarter last year, the business posted ($2.07) EPS. Equities analysts expect that Peloton will post -0.14 earnings per share for the current fiscal year.

In other news, insider Mariana Garavaglia sold 4,688 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $97.09, for a total value of $455,157.92. Following the completion of the transaction, the insider now owns 5,789 shares in the company, valued at approximately $562,054.01. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Howard C. Draft sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $83.09, for a total value of $1,246,350.00. Following the completion of the transaction, the director now owns 129,167 shares of the company’s stock, valued at approximately $10,732,486.03. The disclosure for this sale can be found here. In the last 90 days, insiders sold 771,287 shares of company stock valued at $62,481,171.

A number of large investors have recently made changes to their positions in PTON. New York State Common Retirement Fund raised its stake in Peloton by 41.2% during the first quarter. New York State Common Retirement Fund now owns 16,695 shares of the company’s stock valued at $443,000 after buying an additional 4,870 shares during the last quarter. State Street Corp raised its stake in Peloton by 5.1% during the first quarter. State Street Corp now owns 22,600 shares of the company’s stock valued at $600,000 after buying an additional 1,100 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in Peloton by 68.3% during the first quarter. Commonwealth Equity Services LLC now owns 21,822 shares of the company’s stock valued at $579,000 after buying an additional 8,859 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in Peloton by 159.3% during the first quarter. Rockefeller Capital Management L.P. now owns 13,046 shares of the company’s stock valued at $346,000 after buying an additional 8,015 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Peloton by 3.4% during the first quarter. Victory Capital Management Inc. now owns 6,807 shares of the company’s stock valued at $181,000 after buying an additional 226 shares during the last quarter. Institutional investors and hedge funds own 59.54% of the company’s stock.

About Peloton (NASDAQ:PTON)

Peloton Interactive, Inc provides interactive fitness products in North America. It offers connected fitness products, such as the Peloton Bike and the Peloton Tread, which include touchscreen that streams live and on-demand classes. The company also provides connected fitness subscriptions for multiple household users, and access to all live and on-demand classes, as well as Peloton Digital app for connected fitness subscribers to provide access to its classes.

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