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

Peloton Interactive, Inc. (NASDAQ:PTON) was the target of unusually large options trading activity on Thursday. Traders acquired 138,325 call options on the company. This is an increase of approximately 146% compared to the typical daily volume of 56,320 call options.

Insider Buying and Selling

In other Peloton Interactive news, insider Andrew S. Rendich sold 138,391 shares of Peloton Interactive stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $7.51, for a total transaction of $1,039,316.41. Following the completion of the sale, the insider now owns 287,973 shares of the company’s stock, valued at $2,162,677.23. The trade was a 32.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Elizabeth F. Coddington sold 186,462 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $7.58, for a total value of $1,413,381.96. Following the transaction, the chief financial officer now directly owns 223,017 shares in the company, valued at approximately $1,690,468.86. This represents a 45.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 506,517 shares of company stock valued at $3,524,339. Company insiders own 1.34% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its position in shares of Peloton Interactive by 25,397.7% in the 1st quarter. Russell Investments Group Ltd. now owns 393,685 shares of the company’s stock worth $1,687,000 after purchasing an additional 392,141 shares during the last quarter. Select Equity Group L.P. purchased a new position in Peloton Interactive in the second quarter worth about $1,832,000. Versor Investments LP bought a new position in shares of Peloton Interactive in the third quarter worth approximately $415,000. The Manufacturers Life Insurance Company grew its holdings in shares of Peloton Interactive by 253.7% during the second quarter. The Manufacturers Life Insurance Company now owns 181,589 shares of the company’s stock valued at $614,000 after buying an additional 130,242 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Peloton Interactive by 4.0% during the first quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock valued at $135,212,000 after acquiring an additional 1,215,397 shares in the last quarter. 77.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PTON shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a report on Friday, November 1st. Macquarie increased their target price on Peloton Interactive from $4.90 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 1st. BMO Capital Markets boosted their price objective on Peloton Interactive from $6.50 to $8.50 and gave the company a “market perform” rating in a research report on Monday, November 4th. Morgan Stanley raised their target price on shares of Peloton Interactive from $3.50 to $5.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group upped their price target on shares of Peloton Interactive from $4.00 to $5.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Fifteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Peloton Interactive has an average rating of “Hold” and a consensus price target of $6.75.

Peloton Interactive Stock Performance

Shares of NASDAQ:PTON opened at $9.06 on Friday. The firm has a market capitalization of $3.46 billion, a P/E ratio of -8.47 and a beta of 1.93. The stock has a 50 day moving average price of $6.11 and a 200-day moving average price of $4.55. Peloton Interactive has a 52-week low of $2.70 and a 52-week high of $9.19.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business had revenue of $586.00 million during the quarter, compared to analyst estimates of $572.97 million. During the same period last year, the business posted ($0.44) EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities analysts forecast that Peloton Interactive will post -0.38 EPS for the current fiscal year.

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.