Peloton Interactive Target of Unusually Large Options Trading (NASDAQ:PTON)

Peloton Interactive, Inc. (NASDAQ:PTON) saw unusually large options trading activity on Friday. Stock traders acquired 67,499 call options on the stock. This is an increase of approximately 63% compared to the average daily volume of 41,421 call options.

Analyst Upgrades and Downgrades

Several analysts recently commented on PTON shares. Macquarie raised shares of Peloton Interactive from a “neutral” rating to an “outperform” rating and increased their target price for the company from $9.00 to $10.00 in a research note on Tuesday, May 13th. Telsey Advisory Group cut their target price on shares of Peloton Interactive from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Friday, May 9th. The Goldman Sachs Group cut their target price on shares of Peloton Interactive from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Bank of America cut their target price on shares of Peloton Interactive from $11.50 to $9.50 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Finally, JMP Securities restated a “market perform” rating on shares of Peloton Interactive in a research report on Monday, April 14th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. 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 Stock Up 6.4%

PTON stock opened at $6.80 on Friday. Peloton Interactive has a 12-month low of $2.83 and a 12-month high of $10.90. The company has a market cap of $2.65 billion, a price-to-earnings ratio of -15.45 and a beta of 2.15. The company has a 50 day moving average of $6.74 and a two-hundred day moving average of $7.42.

Peloton Interactive (NASDAQ:PTON) last released 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 firm had revenue of $624.00 million for the quarter, compared to analyst estimates of $620.39 million. The company’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.45) EPS. On average, research analysts anticipate that Peloton Interactive will post -0.36 EPS for the current year.

Insider Transactions at Peloton Interactive

In related news, insider Nick V. Caldwell sold 63,925 shares of the business’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $6.99, for a total transaction of $446,835.75. Following the completion of the sale, the insider now owns 578,668 shares of the company’s stock, valued at $4,044,889.32. This represents a 9.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elizabeth F. Coddington sold 38,708 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $6.96, for a total transaction of $269,407.68. Following the completion of the transaction, the chief financial officer now owns 294,342 shares of the company’s stock, valued at $2,048,620.32. This trade represents a 11.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 555,952 shares of company stock valued at $3,556,914. Insiders own 1.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Peloton Interactive by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 37,246,652 shares of the company’s stock valued at $235,399,000 after purchasing an additional 2,186,862 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Peloton Interactive by 29.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 21,760,678 shares of the company’s stock valued at $137,528,000 after purchasing an additional 4,940,422 shares in the last quarter. DME Capital Management LP raised its holdings in shares of Peloton Interactive by 10.4% during the 4th quarter. DME Capital Management LP now owns 10,522,687 shares of the company’s stock valued at $91,547,000 after purchasing an additional 992,797 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Peloton Interactive by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 8,270,328 shares of the company’s stock valued at $71,969,000 after purchasing an additional 170,901 shares in the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Peloton Interactive by 1.5% during the 4th quarter. Two Sigma Advisers LP now owns 7,551,800 shares of the company’s stock valued at $65,701,000 after purchasing an additional 110,900 shares in the last quarter. 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.