Traders Buy High Volume of Call Options on Peloton Interactive (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 is an increase of approximately 82% compared to the typical daily volume of 43,878 call options.

Insiders Place Their Bets

In other news, insider Nick V. Caldwell sold 68,727 shares of the 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 of the company’s stock, valued at $3,125,202.06. This represents a 12.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elizabeth F. Coddington sold 38,151 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $6.83, for a total transaction of $260,571.33. Following the completion of the sale, the chief financial officer now directly owns 258,880 shares in the company, valued at $1,768,150.40. This represents a 12.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 560,197 shares of company stock valued at $3,554,152. 1.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Peloton Interactive

Several hedge funds and other institutional investors have recently bought and sold shares of PTON. Russell Investments Group Ltd. increased its holdings in Peloton Interactive by 969.6% in the fourth quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company’s stock worth $35,000 after purchasing an additional 3,636 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Peloton Interactive in the 1st quarter worth $37,000. Comerica Bank increased its stake in Peloton Interactive by 29.1% in the 4th quarter. Comerica Bank now owns 6,164 shares of the company’s stock valued at $54,000 after buying an additional 1,389 shares during the last quarter. 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 worth $41,000 after purchasing an additional 1,864 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Peloton Interactive during the 4th quarter worth $69,000. Institutional investors and hedge funds own 77.01% of the company’s stock.

Peloton Interactive Price Performance

Shares of Peloton Interactive stock traded up $0.52 during trading on Monday, hitting $7.82. The company’s stock had a trading volume of 8,037,223 shares, compared to its average volume of 15,291,541. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of -10.15 and a beta of 2.15. Peloton Interactive has a 52 week low of $2.83 and a 52 week high of $10.90. The stock has a 50-day moving average price of $6.37 and a two-hundred day moving average price of $7.70.

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 the consensus estimate of ($0.06) by ($0.06). The firm had revenue of $624.00 million during the quarter, compared to the consensus estimate of $620.39 million. The company’s revenue for the quarter was down 13.1% on a year-over-year basis. During the same period last year, the firm posted ($0.45) earnings per share. On average, equities analysts predict that Peloton Interactive will post -0.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PTON shares. Macquarie upgraded Peloton Interactive from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $9.00 to $10.00 in a research note on Tuesday, May 13th. Telsey Advisory Group decreased their target price 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. The Goldman Sachs Group dropped their price target on Peloton Interactive from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Friday, May 9th. JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a report on Monday, April 14th. 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 research report on Friday, March 14th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $8.30.

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.