Traders Purchase Large Volume of Call Options on Peloton Interactive (NASDAQ:PTON)

Peloton Interactive, Inc. (NASDAQ:PTON) was the recipient of some unusual options trading activity on Thursday. Stock traders bought 138,325 call options on the stock. This represents an increase of 146% compared to the typical daily volume of 56,320 call options.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PTON. Robert W. Baird raised their price target on shares of Peloton Interactive from $4.75 to $8.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Bank of America upgraded shares of Peloton Interactive from an “underperform” rating to a “buy” rating and raised their target price for the company from $3.75 to $9.00 in a research report on Monday, November 4th. JPMorgan Chase & Co. upped their price target on shares of Peloton Interactive from $5.00 to $7.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Roth Mkm raised their price objective on Peloton Interactive from $5.00 to $6.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Macquarie upped their target price on Peloton Interactive from $4.90 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Fifteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Peloton Interactive presently has an average rating of “Hold” and an average price target of $6.75.

Insider Buying and Selling at Peloton Interactive

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 56,084 shares of Peloton Interactive stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $4.50, for a total value of $252,378.00. Following the completion of the transaction, the chief financial officer now directly owns 186,466 shares of the company’s stock, valued at $839,097. The trade was a 23.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew S. Rendich sold 138,391 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $7.51, for a total value of $1,039,316.41. Following the sale, the insider now directly owns 287,973 shares in the company, valued at approximately $2,162,677.23. This trade represents a 32.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 506,517 shares of company stock worth $3,524,339 over the last ninety days. Insiders own 1.34% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Several institutional investors have recently added to or reduced their stakes in PTON. Vanguard Group Inc. raised its stake 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 buying an additional 1,215,397 shares during the period. Gtcr LLC purchased a new stake in Peloton Interactive during the third quarter valued at about $65,520,000. DNB Asset Management AS increased its stake in shares of Peloton Interactive by 42.4% in the second quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock worth $40,880,000 after purchasing an additional 3,611,069 shares in the last quarter. Two Sigma Advisers LP raised its position in shares of Peloton Interactive by 2.9% in the third quarter. Two Sigma Advisers LP now owns 7,440,900 shares of the company’s stock valued at $34,823,000 after purchasing an additional 206,500 shares during the period. Finally, DME Capital Management LP purchased a new stake in shares of Peloton Interactive during the 2nd quarter valued at approximately $22,947,000. Institutional investors own 77.01% of the company’s stock.

Peloton Interactive Price Performance

Shares of NASDAQ PTON opened at $9.06 on Friday. The company has a 50-day moving average price of $6.11 and a 200-day moving average price of $4.55. The stock has a market capitalization of $3.46 billion, a P/E ratio of -8.47 and a beta of 1.93. Peloton Interactive has a 1 year low of $2.70 and a 1 year high of $9.19.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $586.00 million during the quarter, compared to analyst estimates of $572.97 million. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.44) EPS. As a group, equities research analysts anticipate that Peloton Interactive will post -0.38 earnings per share for the current fiscal year.

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.