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

Peloton Interactive, Inc. (NASDAQ:PTON - Get Free Report) was the recipient of some unusual options trading activity on Friday. Stock traders bought 167,992 call options on the company. This represents an increase of 336% compared to the average daily volume of 38,567 call options.

Peloton Interactive Stock Performance

NASDAQ PTON traded down $0.40 on Wednesday, reaching $7.17. 12,823,117 shares of the stock traded hands, compared to its average volume of 15,289,018. Peloton Interactive has a 12 month low of $2.83 and a 12 month high of $10.90. The company has a market cap of $2.80 billion, a price-to-earnings ratio of -9.31 and a beta of 2.25. The company has a fifty day moving average price of $6.32 and a 200-day moving average price of $7.76.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The company had revenue of $624.00 million during the quarter, compared to analysts' expectations of $620.39 million. During the same period in the prior year, the firm earned ($0.45) EPS. Peloton Interactive's quarterly revenue was down 13.1% compared to the same quarter last year. As a group, research analysts anticipate that Peloton Interactive will post -0.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Truist Financial raised Peloton Interactive from a "hold" rating to a "buy" rating and set a $11.00 target price for the company in a research note on Monday, April 28th. Argus upgraded shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $15.00 price objective for the company in a report on Tuesday, February 11th. Macquarie upgraded shares of Peloton Interactive from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $9.00 to $10.00 in a research note on Tuesday, May 13th. Canaccord Genuity Group upgraded Peloton Interactive from a "hold" rating to a "buy" rating and set a $10.00 price target on the stock in a research note on Friday, March 14th. Finally, Morgan Stanley dropped 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. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $8.30.

Insider Transactions at Peloton Interactive

In related news, CFO Elizabeth F. Coddington sold 38,151 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $6.83, for a total value of $260,571.33. Following the transaction, the chief financial officer now directly owns 258,880 shares in the company, valued at approximately $1,768,150.40. This represents a 12.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dion C. Sanders sold 122,036 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was 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. This represents a 51.63% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 747,435 shares of company stock valued at $4,761,838. 1.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new stake in Peloton Interactive in the fourth quarter valued at approximately $360,000. Rhumbline Advisers boosted its position in shares of Peloton Interactive by 7.8% in the 4th quarter. Rhumbline Advisers now owns 479,134 shares of the company's stock worth $4,168,000 after purchasing an additional 34,514 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Peloton Interactive by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 284,060 shares of the company's stock worth $2,471,000 after buying an additional 11,008 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Peloton Interactive by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,136,182 shares of the company's stock valued at $35,985,000 after buying an additional 139,826 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Peloton Interactive in the fourth quarter valued at about $1,158,000. Hedge funds and other institutional investors own 77.01% of the company's stock.

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.