Investors Buy Large Volume of Call Options on Peloton Interactive (NASDAQ:PTON)

Peloton Interactive, Inc. (NASDAQ:PTON) was the target of some unusual options trading activity on Monday. Investors acquired 54,911 call options on the company. This is an increase of approximately 70% compared to the average daily volume of 32,298 call options.

Analysts Set New Price Targets

PTON has been the subject of a number of research analyst reports. Oppenheimer reaffirmed an “outperform” rating on shares of Peloton Interactive in a research note on Tuesday, May 7th. JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a research note on Tuesday. Sanford C. Bernstein lowered shares of Peloton Interactive from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $8.00 to $3.80 in a research note on Friday, May 3rd. Roth Mkm reduced their price target on shares of Peloton Interactive from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Finally, The Goldman Sachs Group reduced their price target on shares of Peloton Interactive from $5.75 to $3.50 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $5.09.

Insider Activity at Peloton Interactive

In related news, CFO Elizabeth F. Coddington sold 8,923 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $3.68, for a total transaction of $32,836.64. Following the completion of the sale, the chief financial officer now owns 186,466 shares of the company’s stock, valued at approximately $686,194.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Peloton Interactive news, insider Andrew S. Rendich sold 27,741 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $3.91, for a total transaction of $108,467.31. Following the completion of the transaction, the insider now directly owns 113,288 shares of the company’s stock, valued at approximately $442,956.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elizabeth F. Coddington sold 8,923 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $3.68, for a total transaction of $32,836.64. Following the transaction, the chief financial officer now directly owns 186,466 shares of the company’s stock, valued at $686,194.88. The disclosure for this sale can be found here. Insiders sold a total of 66,441 shares of company stock valued at $244,496 in the last quarter. Insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

A number of hedge funds have recently made changes to their positions in PTON. Kestra Advisory Services LLC raised its stake in shares of Peloton Interactive by 60.6% in the 3rd quarter. Kestra Advisory Services LLC now owns 18,453 shares of the company’s stock valued at $93,000 after buying an additional 6,965 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of Peloton Interactive by 3.3% in the 3rd quarter. Treasurer of the State of North Carolina now owns 139,104 shares of the company’s stock valued at $702,000 after buying an additional 4,410 shares in the last quarter. Teza Capital Management LLC acquired a new position in shares of Peloton Interactive in the 3rd quarter valued at $472,000. Gotham Asset Management LLC raised its stake in shares of Peloton Interactive by 253.4% in the 3rd quarter. Gotham Asset Management LLC now owns 216,487 shares of the company’s stock valued at $1,093,000 after buying an additional 155,221 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Peloton Interactive by 612.1% in the 3rd quarter. AQR Capital Management LLC now owns 1,235,350 shares of the company’s stock valued at $6,239,000 after buying an additional 1,061,868 shares in the last quarter. Institutional investors and hedge funds own 77.01% of the company’s stock.

Peloton Interactive Price Performance

PTON stock opened at $3.39 on Wednesday. Peloton Interactive has a 52-week low of $2.70 and a 52-week high of $9.87. The company’s 50 day simple moving average is $3.58 and its 200-day simple moving average is $4.38. The firm has a market capitalization of $1.26 billion, a P/E ratio of -1.61 and a beta of 2.02.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The business had revenue of $717.70 million for the quarter, compared to analysts’ expectations of $720.85 million. During the same period in the previous year, the business posted ($0.79) earnings per share. Peloton Interactive’s revenue for the quarter was down 4.2% on a year-over-year basis. Sell-side analysts predict that Peloton Interactive will post -1.62 EPS for the current fiscal 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.