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

Peloton Interactive, Inc. (NASDAQ:PTON) was the target of unusually large options trading activity on Thursday. Stock investors purchased 55,312 call options on the stock. This is an increase of approximately 60% compared to the typical daily volume of 34,463 call options.

Peloton Interactive Price Performance

Shares of NASDAQ:PTON opened at $6.16 on Friday. The firm has a fifty day moving average price of $6.20 and a 200 day moving average price of $7.79. Peloton Interactive has a 1-year low of $2.83 and a 1-year high of $10.90. The stock has a market cap of $2.40 billion, a P/E ratio of -8.00 and a beta of 2.25.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The company had revenue of $624.00 million during the quarter, compared to analysts’ expectations of $620.39 million. Peloton Interactive’s revenue for the quarter was down 13.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.45) earnings per share. Sell-side analysts expect that Peloton Interactive will post -0.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PTON shares. Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a research report on Friday. JMP Securities reiterated a “market perform” rating on shares of Peloton Interactive in a report on Monday, April 14th. Morgan Stanley reduced their price objective on shares of Peloton Interactive from $5.75 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. The Goldman Sachs Group lowered their target price on shares of Peloton Interactive from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Telsey Advisory Group cut their price target on Peloton Interactive from $11.00 to $9.00 and set a “market perform” rating on the stock in a research note on Monday, May 5th. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Peloton Interactive presently has a consensus rating of “Hold” and an average price target of $8.30.

Insider Transactions at Peloton Interactive

In other news, CFO Elizabeth F. Coddington sold 170,819 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $9.62, for a total value of $1,643,278.78. Following the sale, the chief financial officer now directly owns 275,212 shares in the company, valued at approximately $2,647,539.44. This trade represents a 38.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew S. Rendich sold 121,883 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $9.54, for a total value of $1,162,763.82. Following the transaction, the insider now directly owns 404,188 shares of the company’s stock, valued at $3,855,953.52. The trade was a 23.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 674,338 shares of company stock valued at $5,522,838. 1.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Peloton Interactive

Several hedge funds have recently modified their holdings of the business. Townsquare Capital LLC increased its position in Peloton Interactive by 6.5% during the fourth quarter. Townsquare Capital LLC now owns 19,280 shares of the company’s stock worth $168,000 after purchasing an additional 1,172 shares during the last quarter. Comerica Bank grew its position in Peloton Interactive by 29.1% during the fourth quarter. Comerica Bank now owns 6,164 shares of the company’s stock valued at $54,000 after acquiring an additional 1,389 shares during the period. Cetera Investment Advisers increased its stake in Peloton Interactive by 9.1% during the fourth quarter. Cetera Investment Advisers now owns 17,144 shares of the company’s stock worth $149,000 after acquiring an additional 1,432 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Peloton Interactive by 3.8% in the 4th quarter. Victory Capital Management Inc. now owns 42,084 shares of the company’s stock worth $366,000 after purchasing an additional 1,534 shares during the period. Finally, Federated Hermes Inc. lifted its stake in shares of Peloton Interactive by 0.3% in the 1st quarter. Federated Hermes Inc. now owns 533,820 shares of the company’s stock valued at $3,374,000 after purchasing an additional 1,643 shares in the last quarter. 77.01% of the stock is owned by institutional investors and hedge funds.

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.