Peloton Interactive (NASDAQ:PTON) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Peloton Interactive, Inc. (NASDAQ:PTON) saw an uptick in trading volume on Monday . Approximately 7,269,074 shares traded hands during mid-day trading, a decline of 30% from the previous session’s volume of 10,369,432 shares.The stock last traded at $7.43 and had previously closed at $7.75.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Sanford C. Bernstein increased their target price on shares of Peloton Interactive from $4.25 to $6.50 and gave the stock a “market perform” rating in a report on Friday, November 1st. Telsey Advisory Group restated a “market perform” rating and issued a $11.00 price objective on shares of Peloton Interactive in a research report on Monday. JPMorgan Chase & Co. lifted their target price on Peloton Interactive from $5.00 to $7.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Truist Financial boosted their target price on Peloton Interactive from $6.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets raised their price target on Peloton Interactive from $6.50 to $8.50 and gave the stock a “market perform” rating in a research report on Monday, November 4th. Sixteen research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Peloton Interactive presently has a consensus rating of “Hold” and a consensus price target of $7.10.

Peloton Interactive Trading Down 0.1 %

The firm has a market cap of $2.79 billion, a P/E ratio of -6.83 and a beta of 1.95. The company’s 50-day moving average is $9.03 and its two-hundred day moving average is $6.58.

Insider Activity at Peloton Interactive

In other news, insider Andrew S. Rendich sold 138,391 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $7.51, for a total transaction of $1,039,316.41. Following the completion of the transaction, the insider now directly owns 287,973 shares of the company’s stock, valued at $2,162,677.23. This represents a 32.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karen Boone sold 17,259 shares of Peloton Interactive stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $8.63, for a total transaction of $148,945.17. Following the completion of the sale, the director now directly owns 244,641 shares in the company, valued at $2,111,251.83. This trade represents a 6.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 395,813 shares of company stock valued at $3,041,724. 1.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. R Squared Ltd bought a new stake in Peloton Interactive in the 4th quarter valued at about $28,000. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Peloton Interactive by 31.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock valued at $31,000 after purchasing an additional 1,597 shares during the period. Verdence Capital Advisors LLC purchased a new stake in shares of Peloton Interactive during the 3rd quarter valued at approximately $52,000. Ballentine Partners LLC bought a new position in Peloton Interactive in the 3rd quarter worth approximately $55,000. Finally, Sanctuary Advisors LLC purchased a new position in Peloton Interactive in the 3rd quarter valued at approximately $58,000. Institutional investors own 77.01% of the company’s stock.

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.