Investors Purchase Large Volume of Peloton Interactive Call Options (NASDAQ:PTON)

Peloton Interactive, Inc. (NASDAQ:PTON) was the recipient of unusually large options trading activity on Wednesday. Investors acquired 70,595 call options on the company. This represents an increase of 61% compared to the typical volume of 43,723 call options.

Peloton Interactive Price Performance

NASDAQ:PTON opened at $6.65 on Thursday. The company has a market capitalization of $2.50 billion, a PE ratio of -4.40 and a beta of 2.04. The firm’s 50-day moving average price is $4.99 and its 200-day moving average price is $4.00. Peloton Interactive has a 1-year low of $2.70 and a 1-year high of $7.24.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings results on Thursday, August 22nd. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.10. The firm had revenue of $644.00 million during the quarter, compared to the consensus estimate of $633.00 million. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.68) EPS. Equities analysts anticipate that Peloton Interactive will post -0.65 EPS for the current fiscal year.

Insider Transactions at Peloton Interactive

In other news, CEO Chris Bruzzo sold 24,977 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $5.80, for a total value of $144,866.60. Following the completion of the sale, the chief executive officer now directly owns 149,240 shares in the company, valued at approximately $865,592. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Elizabeth F. Coddington sold 56,084 shares of Peloton Interactive stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $4.50, for a total value of $252,378.00. Following the transaction, the chief financial officer now directly owns 186,466 shares of the company’s stock, valued at $839,097. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Chris Bruzzo sold 24,977 shares of Peloton Interactive stock in a transaction on Friday, October 18th. The stock was sold at an average price of $5.80, for a total transaction of $144,866.60. Following the completion of the transaction, the chief executive officer now directly owns 149,240 shares in the company, valued at approximately $865,592. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 167,880 shares of company stock worth $815,767. 1.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Peloton Interactive

A number of hedge funds have recently bought and sold shares of PTON. Vanguard Group Inc. boosted its stake in Peloton Interactive by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 30,339,435 shares of the company’s stock worth $184,767,000 after purchasing an additional 735,658 shares in the last quarter. State of Michigan Retirement System lifted its stake in Peloton Interactive by 412.1% during the 1st quarter. State of Michigan Retirement System now owns 596,477 shares of the company’s stock valued at $2,556,000 after acquiring an additional 480,000 shares during the period. Abundance Wealth Counselors bought a new position in Peloton Interactive during the 1st quarter valued at about $46,000. Lee Johnson Capital Management LLC bought a new position in Peloton Interactive during the 1st quarter valued at about $2,837,000. Finally, First Trust Direct Indexing L.P. bought a new position in Peloton Interactive during the 1st quarter valued at about $94,000. Institutional investors own 77.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. BMO Capital Markets reaffirmed a “market perform” rating and issued a $6.50 target price on shares of Peloton Interactive in a research note on Tuesday, October 1st. JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a research note on Thursday, October 3rd. JPMorgan Chase & Co. downgraded shares of Peloton Interactive from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $7.00 to $5.00 in a research note on Friday, August 23rd. Telsey Advisory Group reissued a “market perform” rating and set a $5.00 price objective on shares of Peloton Interactive in a research report on Thursday, October 24th. Finally, Sanford C. Bernstein boosted their price objective on shares of Peloton Interactive from $3.80 to $4.25 and gave the company a “market perform” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $4.52.

About Peloton Interactive

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.