Peloton Interactive Sees Unusually Large Options Volume (NASDAQ:PTON)

Peloton Interactive, Inc. (NASDAQ:PTON) was the recipient of some unusual options trading on Monday. Traders acquired 79,830 call options on the company. This represents an increase of 82% compared to the average volume of 43,878 call options.

Peloton Interactive Stock Up 7.1%

Shares of Peloton Interactive stock traded up $0.52 during midday trading on Monday, hitting $7.82. The company’s stock had a trading volume of 8,037,223 shares, compared to its average volume of 15,291,541. The stock has a 50-day simple moving average of $6.37 and a 200-day simple moving average of $7.70. The firm has a market capitalization of $3.05 billion, a P/E ratio of -10.15 and a beta of 2.15. Peloton Interactive has a 1-year low of $2.83 and a 1-year high of $10.90.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The firm had revenue of $624.00 million for the quarter, compared to analyst estimates of $620.39 million. The company’s revenue was down 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.45) earnings per share. As a group, sell-side analysts predict that Peloton Interactive will post -0.36 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on PTON. Macquarie upgraded Peloton Interactive from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $9.00 to $10.00 in a report on Tuesday, May 13th. Argus upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Tuesday, February 11th. Telsey Advisory Group decreased their price target on shares of Peloton Interactive from $9.00 to $8.00 and set a “market perform” rating for the company in a report on Friday, May 9th. The Goldman Sachs Group cut their target price on shares of Peloton Interactive from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a research note on Friday, May 9th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $8.30.

Insider Activity at Peloton Interactive

In other news, CFO Elizabeth F. Coddington sold 185,661 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $6.29, for a total transaction of $1,167,807.69. Following the completion of the sale, the chief financial officer now owns 311,231 shares in the company, valued at approximately $1,957,642.99. The trade was a 37.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nick V. Caldwell sold 68,727 shares of Peloton Interactive stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $6.59, for a total transaction of $452,910.93. Following the transaction, the insider now directly owns 474,234 shares in the company, valued at approximately $3,125,202.06. This trade represents a 12.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 560,197 shares of company stock worth $3,554,152 over the last three months. 1.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Peloton Interactive

Several hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its holdings in shares of Peloton Interactive by 969.6% during the 4th quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company’s stock worth $35,000 after acquiring an additional 3,636 shares during the period. FNY Investment Advisers LLC bought a new stake in Peloton Interactive in the first quarter valued at $37,000. Nisa Investment Advisors LLC raised its stake in Peloton Interactive by 40.2% during the first quarter. Nisa Investment Advisors LLC now owns 6,503 shares of the company’s stock worth $41,000 after acquiring an additional 1,864 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Peloton Interactive by 1,082.5% during the first quarter. GAMMA Investing LLC now owns 8,159 shares of the company’s stock valued at $52,000 after acquiring an additional 7,469 shares during the period. Finally, Comerica Bank boosted its stake in shares of Peloton Interactive by 29.1% in the 4th quarter. Comerica Bank now owns 6,164 shares of the company’s stock valued at $54,000 after purchasing an additional 1,389 shares in the last quarter. 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.