Peloton Interactive Target of Unusually Large Options Trading (NASDAQ:PTON)

Peloton Interactive, Inc. (NASDAQ:PTON) was the recipient of unusually large options trading activity on Friday. Investors bought 67,499 call options on the stock. This represents an increase of approximately 63% compared to the average volume of 41,421 call options.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PTON. Deutsche Bank Aktiengesellschaft upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $6.60 price target on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. decreased their price target on shares of Peloton Interactive from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group decreased their price target on shares of Peloton Interactive from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. JMP Securities restated a “market perform” rating on shares of Peloton Interactive in a research report on Monday, April 14th. Finally, Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a research report on Friday, May 9th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Peloton Interactive currently has a consensus rating of “Hold” and a consensus price target of $8.30.

Insider Buying and Selling

In related news, insider Dion C. Sanders sold 122,036 shares of Peloton Interactive stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.25, for a total value of $762,725.00. Following the transaction, the insider now owns 114,318 shares in the company, valued at $714,487.50. This trade represents a 51.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jennifer Cunningham Cotter sold 145,622 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $6.25, for a total transaction of $910,137.50. Following the completion of the sale, the insider now owns 235,439 shares in the company, valued at $1,471,493.75. This represents a 38.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 555,952 shares of company stock worth $3,556,914 in the last quarter. 1.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Peloton Interactive

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in Peloton Interactive by 969.6% in the fourth quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company’s stock valued at $35,000 after buying an additional 3,636 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Peloton Interactive in the first quarter valued at about $37,000. Nisa Investment Advisors LLC boosted its position in Peloton Interactive by 40.2% in the first quarter. Nisa Investment Advisors LLC now owns 6,503 shares of the company’s stock valued at $41,000 after buying an additional 1,864 shares in the last quarter. GAMMA Investing LLC boosted its position in Peloton Interactive by 1,082.5% in the first quarter. GAMMA Investing LLC now owns 8,159 shares of the company’s stock valued at $52,000 after buying an additional 7,469 shares in the last quarter. Finally, Comerica Bank lifted its position in shares of Peloton Interactive by 29.1% during the fourth quarter. Comerica Bank now owns 6,164 shares of the company’s stock worth $54,000 after purchasing an additional 1,389 shares in the last quarter. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Peloton Interactive Stock Performance

Shares of Peloton Interactive stock opened at $6.80 on Friday. The firm’s 50-day simple moving average is $6.74 and its 200-day simple moving average is $7.42. Peloton Interactive has a twelve month low of $2.83 and a twelve month high of $10.90. The firm has a market cap of $2.65 billion, a P/E ratio of -15.45 and a beta of 2.15.

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

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.