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

Peloton Interactive, Inc. (NASDAQ:PTON) was the recipient of some unusual options trading on Wednesday. Investors 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.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PTON shares. Sanford C. Bernstein boosted their price objective on shares of Peloton Interactive from $4.25 to $6.50 and gave the stock a “market perform” rating in a report on Friday, November 1st. Morgan Stanley raised their target price on Peloton Interactive from $3.50 to $5.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Robert W. Baird boosted their target price on shares of Peloton Interactive from $4.75 to $8.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. UBS Group raised shares of Peloton Interactive from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $2.50 to $10.00 in a report on Friday, December 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a research note on Friday, November 1st. Sixteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $7.10.

Peloton Interactive Stock Up 2.7 %

Shares of PTON traded up $0.20 during midday trading on Wednesday, hitting $7.51. The company’s stock had a trading volume of 5,859,126 shares, compared to its average volume of 10,571,104. Peloton Interactive has a one year low of $2.70 and a one year high of $10.90. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of -7.02 and a beta of 1.95. The company’s fifty day simple moving average is $9.03 and its two-hundred day simple moving average is $6.58.

Insider Buying and Selling at Peloton Interactive

In related news, CAO Saqib Baig sold 36,776 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $7.53, for a total transaction 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. This trade represents a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew S. Rendich sold 138,391 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $7.51, for a total value of $1,039,316.41. Following the completion of the transaction, the insider now owns 287,973 shares in the company, valued at $2,162,677.23. This trade represents a 32.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 395,813 shares of company stock valued at $3,041,724 in the last quarter. Corporate insiders own 1.34% of the company’s stock.

Institutional Trading of Peloton Interactive

Several large investors have recently made changes to their positions in PTON. Oppenheimer & Co. Inc. bought a new position in Peloton Interactive in the 4th quarter worth approximately $140,000. NCP Inc. bought a new position in Peloton Interactive in the 4th quarter worth about $104,000. Bank of New York Mellon Corp grew its holdings in Peloton Interactive by 2.0% during the 4th quarter. Bank of New York Mellon Corp now owns 970,963 shares of the company’s stock valued at $8,447,000 after buying an additional 19,081 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Peloton Interactive during the fourth quarter valued at about $360,000. Finally, Carl P. Sherr & Co. LLC bought a new position in shares of Peloton Interactive in the fourth quarter valued at approximately $104,000. 77.01% of the stock is currently owned by institutional investors and hedge funds.

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.