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

Peloton Interactive, Inc. (NASDAQ:PTON) was the recipient of unusually large options trading activity on Monday. Investors acquired 79,830 call options on the company. This is an increase of 82% compared to the typical volume of 43,878 call options.

Peloton Interactive Price Performance

NASDAQ PTON opened at $7.63 on Wednesday. Peloton Interactive has a 12 month low of $2.83 and a 12 month high of $10.90. The firm has a market capitalization of $2.98 billion, a PE ratio of -9.91 and a beta of 2.15. The company’s 50 day simple moving average is $6.44 and its 200 day simple moving average is $7.68.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The company had revenue of $624.00 million for the quarter, compared to analyst estimates of $620.39 million. During the same quarter in the previous year, the company earned ($0.45) EPS. Peloton Interactive’s revenue for the quarter was down 13.1% on a year-over-year basis. Sell-side analysts anticipate that Peloton Interactive will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Peloton Interactive news, insider Nick V. Caldwell sold 68,727 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $6.59, for a total value of $452,910.93. Following the completion of the transaction, the insider now directly owns 474,234 shares of the company’s stock, valued at $3,125,202.06. This represents a 12.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dion C. Sanders sold 122,036 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $6.25, for a total transaction of $762,725.00. Following the completion of the transaction, the insider now directly owns 114,318 shares of the company’s stock, valued at approximately $714,487.50. The trade was a 51.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 560,197 shares of company stock valued at $3,554,152. Company insiders own 1.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PTON. T. Rowe Price Investment Management Inc. increased its stake in shares of Peloton Interactive by 29.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 21,760,678 shares of the company’s stock valued at $137,528,000 after acquiring an additional 4,940,422 shares during the period. Nuveen LLC acquired a new position in Peloton Interactive in the first quarter worth approximately $23,239,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Peloton Interactive by 245.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,227,854 shares of the company’s stock worth $36,782,000 after buying an additional 3,004,757 shares during the last quarter. Voloridge Investment Management LLC grew its position in Peloton Interactive by 1,438.9% in the fourth quarter. Voloridge Investment Management LLC now owns 3,109,054 shares of the company’s stock worth $27,049,000 after buying an additional 2,907,023 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Peloton Interactive by 6.2% in the first quarter. Vanguard Group Inc. now owns 37,246,652 shares of the company’s stock worth $235,399,000 after buying an additional 2,186,862 shares during the last quarter. Institutional investors and hedge funds own 77.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PTON. Morgan Stanley cut their target price on shares of Peloton Interactive from $5.75 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. The Goldman Sachs Group dropped their price objective on shares of Peloton Interactive from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. JMP Securities reiterated a “market perform” rating on shares of Peloton Interactive in a research note on Monday, April 14th. Bank of America dropped their price objective on shares of Peloton Interactive from $11.50 to $9.50 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Finally, Telsey Advisory Group dropped their price objective on shares of Peloton Interactive from $9.00 to $8.00 and set a “market perform” rating on the stock in a research note on Friday, May 9th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Peloton Interactive has a consensus rating of “Hold” and a consensus price target of $8.30.

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.