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

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

Insiders Place Their Bets

In other news, insider Andrew S. Rendich sold 138,391 shares of the 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 transaction, the insider now directly owns 287,973 shares in the company, valued at approximately $2,162,677.23. This represents a 32.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Karen Boone sold 13,484 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $8.27, for a total value of $111,512.68. Following the completion of the sale, the chief executive officer now owns 211,459 shares of the company’s stock, valued at $1,748,765.93. The trade was a 5.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 556,517 shares of company stock valued at $3,768,339 in the last quarter. Corporate insiders own 1.34% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew 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 worth $135,212,000 after purchasing an additional 1,215,397 shares in the last quarter. Gtcr LLC bought a new stake in shares of Peloton Interactive during the third quarter valued at approximately $65,520,000. DNB Asset Management AS boosted its position in shares of Peloton Interactive by 42.4% during the second quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock worth $40,880,000 after acquiring an additional 3,611,069 shares during the last quarter. Two Sigma Advisers LP increased its holdings in Peloton Interactive by 2.9% in the 3rd quarter. Two Sigma Advisers LP now owns 7,440,900 shares of the company’s stock valued at $34,823,000 after acquiring an additional 206,500 shares during the last quarter. Finally, DME Capital Management LP purchased a new position in shares of Peloton Interactive during the second quarter valued at about $22,947,000. 77.01% of the stock is currently owned by institutional investors.

Peloton Interactive Trading Up 8.4 %

Peloton Interactive stock traded up $0.70 during trading on Thursday, reaching $9.06. The company had a trading volume of 20,097,359 shares, compared to its average volume of 16,440,236. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of -8.50 and a beta of 1.93. The firm’s 50-day simple moving average is $6.01 and its 200 day simple moving average is $4.51. 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 for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The firm had revenue of $586.00 million during the quarter, compared to analysts’ expectations of $572.97 million. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.44) earnings per share. On average, analysts predict that Peloton Interactive will post -0.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PTON. Morgan Stanley lifted their price target on shares of Peloton Interactive from $3.50 to $5.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. JMP Securities restated a “market perform” rating on shares of Peloton Interactive in a report on Thursday, October 3rd. Sanford C. Bernstein lifted their target price on Peloton Interactive from $4.25 to $6.50 and gave the stock a “market perform” rating in a report on Friday, November 1st. Telsey Advisory Group increased their price objective on Peloton Interactive from $5.00 to $9.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Finally, Macquarie boosted their target price on Peloton Interactive from $4.90 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Fifteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.75.

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.