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

Peloton Interactive, Inc. (NASDAQ:PTON) saw unusually large options trading activity on Thursday. Investors purchased 43,794 call options on the stock. This represents an increase of 42% compared to the average daily volume of 30,733 call options.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Truist Financial cut their price objective on shares of Peloton Interactive from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, February 2nd. JPMorgan Chase & Co. cut their price objective on shares of Peloton Interactive from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Friday, February 2nd. The Goldman Sachs Group cut their price objective on shares of Peloton Interactive from $6.50 to $5.75 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Telsey Advisory Group cut their price objective on shares of Peloton Interactive from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Friday, February 2nd. Finally, Morgan Stanley started coverage on shares of Peloton Interactive in a research report on Monday, March 11th. They set an “equal weight” rating and a $3.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.50.

Insider Buying and Selling

In other news, Director Karen Boone sold 50,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $4.33, for a total transaction of $216,500.00. Following the completion of the transaction, the director now directly owns 34,966 shares of the company’s stock, valued at $151,402.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Karen Boone sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $4.33, for a total transaction of $216,500.00. Following the completion of the sale, the director now owns 34,966 shares of the company’s stock, valued at $151,402.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Elizabeth F. Coddington sold 8,977 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $4.34, for a total transaction of $38,960.18. Following the sale, the chief financial officer now directly owns 104,428 shares of the company’s stock, valued at approximately $453,217.52. The disclosure for this sale can be found here. 3.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On Peloton Interactive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Johnson & White Wealth Management LLC purchased a new position in Peloton Interactive during the first quarter worth about $43,000. Abundance Wealth Counselors purchased a new position in Peloton Interactive during the first quarter worth about $46,000. Rakuten Securities Inc. purchased a new position in Peloton Interactive during the fourth quarter worth about $47,000. Carl P. Sherr & Co. LLC purchased a new position in Peloton Interactive during the third quarter worth about $55,000. Finally, Aaron Wealth Advisors LLC acquired a new stake in shares of Peloton Interactive during the third quarter valued at about $57,000. 77.01% of the stock is owned by hedge funds and other institutional investors.

Peloton Interactive Stock Down 0.7 %

PTON stock traded down $0.02 during midday trading on Thursday, hitting $3.04. 5,202,504 shares of the stock traded hands, compared to its average volume of 14,133,505. The stock’s fifty day simple moving average is $4.10 and its 200-day simple moving average is $4.96. Peloton Interactive has a 1-year low of $2.91 and a 1-year high of $9.87.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, February 1st. The company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.01. The firm had revenue of $743.60 million for the quarter, compared to analyst estimates of $733.17 million. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.98) EPS. On average, research analysts forecast that Peloton Interactive will post -1.6 EPS for the current year.

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.