Peloton Interactive Target of Unusually Large Options Trading (NASDAQ:PTON)

Peloton Interactive, Inc. (NASDAQ:PTON) was the target of unusually large options trading activity on Wednesday. Stock traders acquired 70,344 call options on the stock. This is an increase of approximately 44% compared to the typical daily volume of 48,960 call options.

Insider Activity

In related news, CAO Saqib Baig sold 36,776 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $7.53, for a total value of $276,923.28. Following the completion of the sale, the chief accounting officer now directly owns 137,357 shares in the company, valued at approximately $1,034,298.21. The trade was a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Andrew S. Rendich sold 138,391 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $7.51, for a total transaction of $1,039,316.41. Following the completion of the transaction, the insider now directly owns 287,973 shares in the company, valued at approximately $2,162,677.23. This represents a 32.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 395,813 shares of company stock valued at $3,041,724 in the last quarter. Company insiders own 1.34% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Institutional investors have recently bought and sold shares of the company. R Squared Ltd acquired a new position in Peloton Interactive during the 4th quarter worth approximately $28,000. Point72 Asia Singapore Pte. Ltd. raised its position in Peloton Interactive by 31.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock worth $31,000 after acquiring an additional 1,597 shares during the last quarter. Verdence Capital Advisors LLC acquired a new stake in shares of Peloton Interactive in the third quarter valued at approximately $52,000. Ballentine Partners LLC purchased a new position in shares of Peloton Interactive during the 3rd quarter worth approximately $55,000. Finally, Sanctuary Advisors LLC acquired a new stake in Peloton Interactive during the third quarter worth approximately $58,000. 77.01% of the stock is owned by institutional investors and hedge funds.

Peloton Interactive Stock Performance

NASDAQ PTON traded up $0.20 during mid-day trading on Wednesday, reaching $7.51. 5,859,126 shares of the stock were exchanged, compared to its average volume of 10,571,104. The company has a market capitalization of $2.86 billion, a P/E ratio of -7.02 and a beta of 1.95. The business’s 50 day moving average is $9.03 and its 200-day moving average is $6.58. Peloton Interactive has a 1 year low of $2.70 and a 1 year high of $10.90.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Robert W. Baird increased their price objective on Peloton Interactive from $4.75 to $8.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. UBS Group upgraded shares of Peloton Interactive from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $2.50 to $10.00 in a report on Friday, December 6th. Sanford C. Bernstein lifted their target price on shares of Peloton Interactive from $4.25 to $6.50 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Macquarie upped their price target on shares of Peloton Interactive from $4.90 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Morgan Stanley increased their target price on shares of Peloton Interactive from $3.50 to $5.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Sixteen analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $7.10.

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.