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

Peloton Interactive, Inc. (NASDAQ:PTONGet Rating) saw unusually large options trading on Friday. Stock traders bought 83,767 call options on the company. This represents an increase of 67% compared to the average volume of 50,041 call options.

Peloton Interactive Price Performance

Shares of Peloton Interactive stock opened at $11.79 on Friday. The company has a quick ratio of 1.13, a current ratio of 2.49 and a debt-to-equity ratio of 0.49. The company has a market cap of $3.91 billion, a PE ratio of -1.98 and a beta of 1.43. The business has a 50 day moving average of $10.37 and a 200 day moving average of $19.17. Peloton Interactive has a 52 week low of $8.22 and a 52 week high of $121.17.

Peloton Interactive (NASDAQ:PTONGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.13). The firm had revenue of $964.30 million during the quarter, compared to the consensus estimate of $969.81 million. Peloton Interactive had a negative return on equity of 78.79% and a negative net margin of 49.10%. Peloton Interactive’s revenue for the quarter was down 23.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.03) EPS. As a group, equities research analysts forecast that Peloton Interactive will post -5.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PTON. Robert W. Baird cut their price objective on Peloton Interactive from $46.00 to $25.00 in a report on Wednesday, May 11th. JPMorgan Chase & Co. cut their price objective on Peloton Interactive from $24.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, June 29th. Stifel Nicolaus cut their price objective on Peloton Interactive from $14.00 to $13.00 in a report on Tuesday, June 28th. Barclays cut their price objective on Peloton Interactive from $60.00 to $22.00 in a report on Wednesday, May 11th. Finally, Oppenheimer initiated coverage on Peloton Interactive in a research note on Wednesday. They issued an “outperform” rating and a $20.00 target price for the company. Fifteen investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Peloton Interactive has a consensus rating of “Moderate Buy” and an average target price of $40.50.

Insider Transactions at Peloton Interactive

In other news, CFO Jill Woodworth sold 4,530 shares of Peloton Interactive stock in a transaction on Monday, May 16th. The stock was sold at an average price of $15.65, for a total transaction of $70,894.50. Following the sale, the chief financial officer now directly owns 6,528 shares in the company, valued at approximately $102,163.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 13.18% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

A number of institutional investors have recently added to or reduced their stakes in PTON. Baillie Gifford & Co. increased its holdings in shares of Peloton Interactive by 5.0% during the first quarter. Baillie Gifford & Co. now owns 33,191,671 shares of the company’s stock valued at $876,924,000 after acquiring an additional 1,582,414 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Peloton Interactive by 3.4% during the first quarter. Vanguard Group Inc. now owns 25,768,977 shares of the company’s stock valued at $680,816,000 after acquiring an additional 851,812 shares in the last quarter. Capital World Investors increased its holdings in shares of Peloton Interactive by 16.2% during the first quarter. Capital World Investors now owns 10,124,402 shares of the company’s stock valued at $267,487,000 after acquiring an additional 1,411,171 shares in the last quarter. Dragoneer Investment Group LLC increased its holdings in shares of Peloton Interactive by 79.5% during the first quarter. Dragoneer Investment Group LLC now owns 8,672,304 shares of the company’s stock valued at $229,122,000 after acquiring an additional 3,840,044 shares in the last quarter. Finally, Coatue Management LLC boosted its position in shares of Peloton Interactive by 1,872.8% during the first quarter. Coatue Management LLC now owns 8,614,159 shares of the company’s stock valued at $227,586,000 after buying an additional 8,177,503 shares during the last quarter. Institutional investors own 82.42% of the company’s stock.

About Peloton Interactive

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Peloton Interactive, Inc provides interactive fitness products in North America and internationally. It offers connected fitness products with touchscreen that streams live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread, and Peloton Tread+ names. The company also provides connected fitness subscriptions for various household users, and access to various live and on-demand classes, as well as Peloton Digital app for connected fitness subscribers to provide access to its classes.

Further Reading

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