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

Peloton Interactive, Inc. (NASDAQ:PTON) was the recipient of unusually large options trading on Monday. Traders purchased 79,830 call options on the stock. This represents an increase of approximately 82% compared to the average volume of 43,878 call options.

Analysts Set New Price Targets

Several research firms have weighed in on PTON. Telsey Advisory Group cut their price objective on Peloton Interactive from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Friday, May 9th. Deutsche Bank Aktiengesellschaft upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $6.60 target price for the company in a research note on Monday, April 14th. 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. Bank of America cut their price objective on shares of Peloton Interactive from $11.50 to $9.50 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Finally, Canaccord Genuity Group raised shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Friday, March 14th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $8.30.

Peloton Interactive Price Performance

Shares of NASDAQ:PTON opened at $7.65 on Tuesday. Peloton Interactive has a 1-year low of $2.83 and a 1-year high of $10.90. The firm has a fifty day moving average price of $6.39 and a 200 day moving average price of $7.68. The stock has a market cap of $2.98 billion, a P/E ratio of -9.94 and a beta of 2.15.

Peloton Interactive (NASDAQ:PTON) last issued 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 firm had revenue of $624.00 million for the quarter, compared to analyst estimates of $620.39 million. Peloton Interactive’s quarterly revenue was down 13.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.45) EPS. Sell-side analysts expect that Peloton Interactive will post -0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Dion C. Sanders sold 122,036 shares of the firm’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $6.25, for a total transaction of $762,725.00. Following the transaction, the insider now directly owns 114,318 shares of the company’s stock, valued at approximately $714,487.50. This trade represents a 51.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elizabeth F. Coddington sold 185,661 shares of the firm’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $6.29, for a total value of $1,167,807.69. Following the completion of the sale, the chief financial officer now directly owns 311,231 shares in the company, valued at $1,957,642.99. The trade was a 37.36% 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 90 days. Corporate insiders own 1.34% of the company’s stock.

Institutional Trading of Peloton Interactive

A number of hedge funds and other institutional investors have recently made changes to their positions in PTON. Russell Investments Group Ltd. grew its position in shares of Peloton Interactive by 969.6% during the fourth 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 last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Peloton Interactive in the first quarter worth approximately $37,000. Comerica Bank increased its holdings in Peloton Interactive by 29.1% in the fourth quarter. Comerica Bank now owns 6,164 shares of the company’s stock worth $54,000 after buying an additional 1,389 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Peloton Interactive by 40.2% during the first quarter. Nisa Investment Advisors LLC now owns 6,503 shares of the company’s stock valued at $41,000 after purchasing an additional 1,864 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Peloton Interactive during the fourth quarter valued at approximately $69,000. 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.