Peloton Interactive Sees Unusually Large Options Volume (NASDAQ:PTON)

Peloton Interactive, Inc. (NASDAQ:PTON) was the target of unusually large options trading on Monday. Traders bought 54,911 call options on the stock. This represents an increase of approximately 70% compared to the average daily volume of 32,298 call options.

Peloton Interactive Price Performance

Shares of PTON opened at $3.25 on Tuesday. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -1.54 and a beta of 2.04. The business has a 50-day moving average of $3.57 and a 200-day moving average of $4.43. Peloton Interactive has a 1 year low of $2.70 and a 1 year high of $9.87.

Peloton Interactive (NASDAQ:PTON) last released its earnings results on Thursday, May 2nd. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.06). The company had revenue of $717.70 million during the quarter, compared to analyst estimates of $720.85 million. During the same period in the prior year, the company earned ($0.79) earnings per share. Peloton Interactive’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Peloton Interactive will post -1.62 EPS for the current year.

Insider Activity

In other news, insider Andrew S. Rendich sold 27,741 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $3.91, for a total value of $108,467.31. Following the completion of the sale, the insider now directly owns 113,288 shares in the company, valued at $442,956.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Chris Bruzzo sold 14,936 shares of Peloton Interactive stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 38,680 shares of the company’s stock, valued at approximately $140,021.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew S. Rendich sold 27,741 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $3.91, for a total value of $108,467.31. Following the sale, the insider now owns 113,288 shares of the company’s stock, valued at approximately $442,956.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,600 shares of company stock worth $195,372. Corporate insiders own 3.28% of the company’s stock.

Institutional Trading of Peloton Interactive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC lifted its stake in shares of Peloton Interactive by 60.6% in the third 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 holdings 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 worth $702,000 after acquiring an additional 4,410 shares during the last quarter. Teza Capital Management LLC bought a new position in Peloton Interactive in the 3rd quarter valued at about $472,000. Gotham Asset Management LLC boosted its stake in Peloton Interactive by 253.4% during the 3rd quarter. Gotham Asset Management LLC now owns 216,487 shares of the company’s stock valued at $1,093,000 after purchasing an additional 155,221 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Peloton Interactive by 612.1% during the 3rd 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 in the last quarter. 77.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on PTON shares. Telsey Advisory Group reaffirmed a “market perform” rating and set a $4.00 price objective (down previously from $5.00) on shares of Peloton Interactive in a research note on Monday, April 29th. Sanford C. Bernstein lowered shares of Peloton Interactive from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $8.00 to $3.80 in a research note on Friday, May 3rd. JPMorgan Chase & Co. decreased their target price on shares of Peloton Interactive from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Robert W. Baird upped 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. Finally, Citigroup cut shares of Peloton Interactive from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $8.00 to $4.00 in a research report on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $5.09.

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.