Traders Purchase High Volume of Call Options on Peloton Interactive (NASDAQ:PTON)

Peloton Interactive, Inc. (NASDAQ:PTON) was the recipient of some unusual options trading on Monday. Traders acquired 54,911 call options on the stock. This is an increase of 70% compared to the average volume of 32,298 call options.

Analysts Set New Price Targets

Several brokerages have weighed in on PTON. The Goldman Sachs Group cut their price target on Peloton Interactive from $5.75 to $3.50 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. BMO Capital Markets reduced their price target on Peloton Interactive from $7.50 to $6.50 and set a “market perform” rating for the company in a research report on Friday, May 3rd. Robert W. Baird lifted their target price on Peloton Interactive from $3.50 to $4.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Citigroup cut shares of Peloton Interactive from a “buy” rating to a “neutral” rating and cut their price target for the company from $8.00 to $4.00 in a research note on Monday, May 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $5.09.

Insider Transactions at Peloton Interactive

In related news, CFO Elizabeth F. Coddington sold 8,923 shares of the firm’s stock in a transaction that occurred on 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 owns 186,466 shares of the company’s stock, valued at $686,194.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Elizabeth F. Coddington sold 8,923 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $3.68, for a total value of $32,836.64. Following the transaction, the chief financial officer now directly owns 186,466 shares of the company’s stock, valued at approximately $686,194.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Chris Bruzzo sold 14,936 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $3.62, for a total value of $54,068.32. Following the sale, the chief executive officer now directly owns 38,680 shares of the company’s stock, valued at approximately $140,021.60. The disclosure for this sale can be found here. Insiders sold 51,600 shares of company stock valued at $195,372 over the last three months. 3.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Capital World Investors increased its position in Peloton Interactive by 17.6% in the fourth quarter. Capital World Investors now owns 26,259,325 shares of the company’s stock worth $159,919,000 after buying an additional 3,925,000 shares in the last quarter. Norges Bank purchased a new position in shares of Peloton Interactive during the 4th quarter valued at $20,824,000. DNB Asset Management AS boosted its holdings in Peloton Interactive by 31.7% in the 4th quarter. DNB Asset Management AS now owns 8,386,903 shares of the company’s stock worth $51,076,000 after buying an additional 2,020,159 shares during the period. Patient Capital Management LLC increased its stake in Peloton Interactive by 32.7% in the 4th quarter. Patient Capital Management LLC now owns 6,196,285 shares of the company’s stock worth $37,735,000 after buying an additional 1,527,471 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Peloton Interactive during the first quarter valued at about $5,877,000. 77.01% of the stock is owned by institutional investors.

Peloton Interactive Trading Down 3.8 %

Shares of NASDAQ:PTON traded down $0.13 during trading on Monday, reaching $3.25. 11,431,709 shares of the company traded hands, compared to its average volume of 15,927,984. The business’s fifty day moving average is $3.57 and its 200-day moving average is $4.43. Peloton Interactive has a 52-week low of $2.70 and a 52-week high of $9.87. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -1.52 and a beta of 2.02.

Peloton Interactive (NASDAQ:PTON) last announced its 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 firm had revenue of $717.70 million for the quarter, compared to analysts’ expectations of $720.85 million. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.79) earnings per share. On average, sell-side analysts predict that Peloton Interactive will post -1.62 earnings per share 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.