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

Peloton Interactive, Inc. (NASDAQ:PTON) was the recipient of some unusual options trading activity on Friday. Traders purchased 167,992 call options on the stock. This is an increase of 336% compared to the typical daily volume of 38,567 call options.

Analyst Upgrades and Downgrades

PTON has been the subject of several recent research reports. Canaccord Genuity Group upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Friday, March 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $6.60 price objective on the stock in a research report on Monday, April 14th. Truist Financial raised shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Monday, April 28th. Argus upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Tuesday, February 11th. Finally, Bank of America dropped their price target on shares of Peloton Interactive from $11.50 to $9.50 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Peloton Interactive presently has a consensus rating of “Hold” and a consensus price target of $8.30.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, insider Nick V. Caldwell sold 68,727 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $6.59, for a total transaction of $452,910.93. Following the completion of the sale, the insider now owns 474,234 shares in the company, valued at $3,125,202.06. The trade was a 12.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew S. Rendich sold 17,401 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $8.18, for a total transaction of $142,340.18. Following the sale, the insider now owns 362,573 shares of the company’s stock, valued at approximately $2,965,847.14. The trade was a 4.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 764,836 shares of company stock valued at $4,904,178 over the last ninety days. Corporate insiders own 1.34% of the company’s stock.

Institutional Trading of Peloton Interactive

Hedge funds have recently bought and sold shares of the company. Townsquare Capital LLC increased its holdings in Peloton Interactive by 6.5% in the fourth quarter. Townsquare Capital LLC now owns 19,280 shares of the company’s stock worth $168,000 after buying an additional 1,172 shares during the last quarter. 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. Cetera Investment Advisers increased its holdings in Peloton Interactive by 9.1% in the fourth quarter. Cetera Investment Advisers now owns 17,144 shares of the company’s stock worth $149,000 after buying an additional 1,432 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Peloton Interactive by 3.8% in the fourth quarter. Victory Capital Management Inc. now owns 42,084 shares of the company’s stock worth $366,000 after buying an additional 1,534 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in Peloton Interactive by 0.3% in the first quarter. Federated Hermes Inc. now owns 533,820 shares of the company’s stock worth $3,374,000 after buying an additional 1,643 shares during the last quarter. 77.01% of the stock is owned by hedge funds and other institutional investors.

Peloton Interactive Trading Up 5.0%

Shares of NASDAQ PTON opened at $7.57 on Friday. Peloton Interactive has a twelve month low of $2.83 and a twelve month high of $10.90. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of -9.83 and a beta of 2.25. The firm has a 50-day moving average of $6.28 and a two-hundred day moving average of $7.78.

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 analysts’ consensus estimates of ($0.06) by ($0.06). The business had revenue of $624.00 million for the quarter, compared to the consensus estimate of $620.39 million. During the same period last year, the firm earned ($0.45) earnings per share. The company’s revenue was down 13.1% compared to the same quarter last year. As a group, research analysts predict that Peloton Interactive will post -0.36 earnings per share 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.