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

Peloton Interactive, Inc. (NASDAQ:PTON) saw unusually large options trading on Thursday. Traders bought 43,794 call options on the company. This is an increase of approximately 42% compared to the typical daily volume of 30,733 call options.

Peloton Interactive Stock Performance

Shares of PTON opened at $3.16 on Friday. Peloton Interactive has a 12 month low of $2.91 and a 12 month high of $9.87. The company’s fifty day moving average is $4.04 and its 200-day moving average is $4.94.

Peloton Interactive (NASDAQ:PTON) last posted its earnings results on Thursday, February 1st. The company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.01. The business had revenue of $743.60 million for the quarter, compared to analyst estimates of $733.17 million. During the same period in the previous year, the company earned ($0.98) earnings per share. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. Analysts expect that Peloton Interactive will post -1.6 EPS for the current year.

Insider Transactions at Peloton Interactive

In other news, Director Karen Boone sold 50,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $4.33, for a total value of $216,500.00. Following the sale, the director now owns 34,966 shares of the company’s stock, valued at approximately $151,402.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Karen Boone sold 50,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $4.33, for a total value of $216,500.00. Following the sale, the director now owns 34,966 shares of the company’s stock, valued at approximately $151,402.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Elizabeth F. Coddington sold 8,977 shares of Peloton Interactive stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.34, for a total value of $38,960.18. Following the completion of the transaction, the chief financial officer now owns 104,428 shares in the company, valued at $453,217.52. The disclosure for this sale can be found here. Company insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Several institutional investors have recently bought and sold shares of PTON. Capital World Investors raised its holdings in Peloton Interactive by 17.6% during the fourth quarter. Capital World Investors now owns 26,259,325 shares of the company’s stock valued at $159,919,000 after buying an additional 3,925,000 shares in the last quarter. Norges Bank bought a new position in Peloton Interactive during the fourth quarter valued at about $20,824,000. DNB Asset Management AS raised its holdings in Peloton Interactive by 31.7% during the fourth quarter. DNB Asset Management AS now owns 8,386,903 shares of the company’s stock valued at $51,076,000 after buying an additional 2,020,159 shares in the last quarter. Patient Capital Management LLC raised its holdings in Peloton Interactive by 32.7% during the fourth quarter. Patient Capital Management LLC now owns 6,196,285 shares of the company’s stock valued at $37,735,000 after buying an additional 1,527,471 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Peloton Interactive by 612.1% in the third quarter. AQR Capital Management LLC now owns 1,235,350 shares of the company’s stock worth $6,239,000 after purchasing an additional 1,061,868 shares during the period. 77.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PTON has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their target price on Peloton Interactive from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Friday, February 2nd. Telsey Advisory Group decreased their target price on Peloton Interactive from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Friday, February 2nd. Truist Financial decreased their target price on Peloton Interactive from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, February 2nd. Morgan Stanley assumed coverage on Peloton Interactive in a report on Monday, March 11th. They set an “equal weight” rating and a $3.00 price target on the stock. Finally, The Goldman Sachs Group lowered their price target on Peloton Interactive from $6.50 to $5.75 and set a “neutral” rating on the stock in a report on Friday, February 2nd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.50.

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.