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

Peloton Interactive, Inc. (NASDAQ:PTON) was the target of unusually large options trading activity on Wednesday. Traders purchased 70,344 call options on the company. This is an increase of approximately 44% compared to the typical volume of 48,960 call options.

Analyst Ratings Changes

PTON has been the topic of a number of recent research reports. Truist Financial boosted their price target on shares of Peloton Interactive from $6.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Sanford C. Bernstein upped their price objective 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. Morgan Stanley lifted their price objective on Peloton Interactive from $3.50 to $5.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. BMO Capital Markets lifted their target price on Peloton Interactive from $6.50 to $8.50 and gave the company a “market perform” rating in a research report on Monday, November 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a report on Friday, November 1st. Sixteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.10.

Insiders Place Their Bets

In related news, Director Karen Boone sold 17,259 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.63, for a total transaction of $148,945.17. Following the sale, the director now directly owns 244,641 shares of the company’s stock, valued at approximately $2,111,251.83. This represents a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Saqib Baig sold 36,776 shares of Peloton Interactive stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $7.53, for a total value of $276,923.28. Following the completion of the transaction, the chief accounting officer now owns 137,357 shares of the company’s stock, valued at approximately $1,034,298.21. This represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 395,813 shares of company stock valued at $3,041,724. Insiders own 1.34% of the company’s stock.

Institutional Trading of Peloton Interactive

Large investors have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Peloton Interactive during the fourth quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. grew its stake in Peloton Interactive by 31.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock valued at $31,000 after acquiring an additional 1,597 shares in the last quarter. Verdence Capital Advisors LLC acquired a new position in shares of Peloton Interactive in the 3rd quarter valued at about $52,000. Ballentine Partners LLC purchased a new stake in shares of Peloton Interactive in the third quarter worth approximately $55,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Peloton Interactive during the third quarter worth approximately $58,000. 77.01% of the stock is owned by institutional investors and hedge funds.

Peloton Interactive Price Performance

Peloton Interactive stock opened at $7.58 on Thursday. The company has a market cap of $2.89 billion, a P/E ratio of -7.08 and a beta of 1.95. Peloton Interactive has a fifty-two week low of $2.70 and a fifty-two week high of $10.90. The firm’s 50 day simple moving average is $9.03 and its 200-day simple moving average is $6.58.

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.