Peloton Interactive, Inc. (NASDAQ:PTON – Get Rating) was the recipient of some unusual activity in options trading on Thursday. Investors acquired 81,735 call options on the stock. This is an increase of approximately 32% over the typical volume of 61,702 call options.
Insider activity at Peloton Interactive
In other news from Peloton Interactive, CAO Allen J. Klingsick sold 2,775 shares of the company’s stock in a transaction Tuesday, August 16th. The shares sold at an average price of $13.88 for a total transaction of $38,517.00. Following the sale, the Chief Accounting Officer now directly owns 27,127 shares of the Company, valued at approximately $376,522.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC’s website. In related news, insider Kevin Cornils sold 7,037 shares of the stock in a transaction Tuesday, Aug. 16. The stock sold at an average price of $14.10 for a total transaction of $99,221.70. Following the transaction, the insider now directly owns 13,891 shares of the company’s stock valued at $195,863.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In addition, CAO Allen J. Klingsick sold 2,775 shares of Peloton Interactive in a transaction on Tuesday, August 16th. The shares sold at an average price of $13.88 for a total value of $38,517.00. Upon completion of the sale, the Chief Accounting Officer now owns 27,127 shares of the Company, valued at approximately $376,522.76. The disclosure for this sale can be found here. 13.18% of the shares are currently owned by company insiders.
Institutional investors rely on Peloton Interactive
Hedge funds and other institutional investors have recently changed their stock holdings. Coatue Management LLC increased its holdings in Peloton Interactive stock by 1,872.8% during the first quarter. Coatue Management LLC now owns 8,614,159 shares of the Company’s stock valued at $227,586,000 after acquiring an additional 8,177,503 shares during the most recent quarter. Darsana Capital Partners LP acquired a new position in Peloton Interactive stock valued at $68,850,000 during the second quarter. Wellington Management Group LLP acquired a new interest in Peloton Interactive in Q1 for $143,575,000. Dragoneer Investment Group LLC increased its stake in Peloton Interactive by 79.5% in the first quarter. Dragoneer Investment Group LLC now owns 8,672,304 shares of the Company’s shares valued at $229,122,000 after purchasing an additional 3,840,044 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in Peloton Interactive by 9.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 44,787,453 shares of the company’s stock valued at $411,149,000 after purchasing an additional 3,818,380 shares last quarter. 79.40% of the shares are currently held by institutional investors.
Changes in analyst ratings
Several equity analysts have recently commented on PTON stock. Cowen lowered its target price on Peloton Interactive shares to $20.00 from $35.00 and gave the company a “Outperform” rating in a research report on Friday, August 26. Truist Financial lowered its target price on Peloton Interactive shares to $13.00 from $15.00 and issued a research note on Monday, August with a “hold” rating for the stock. Stifel Nicolaus lowered his price target on Peloton Interactive to $12.00 from $13.00 and gave the stock a “hold” rating in a report on Friday, August. Needham & Company LLC lowered its target price on Peloton Interactive to $14.00 from $25.00 and gave the company a buy rating in a report dated Friday, August 26. Finally, Cowen lowered its target price on Peloton Interactive shares to $20.00 from $35.00 and gave the company a Outperform rating in a research report on Friday, August. Two equities research analysts have rated the stock with a sell rating, fifteen have given it a hold rating and eighteen have given it a buy rating. According to MarketBeat, the company currently has an average rating of Hold and a consensus target of $36.73.
Peloton Interactive stock performance
NASDAQ:PTON shares rose $0.42 during Thursday trading hours to hit $10.65. The stock had a trading volume of 561,814 shares compared to an average volume of 20,335,646. The stock’s 50-day simple moving average is $10.51 and its 200-day simple moving average is $15.62. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -1.19 and a beta of 1.35. The company has a gearing ratio of 2.62, a quick ratio of 1.38 and a current ratio of 2.38. Peloton Interactive has a 1 year low of $8.22 and a 1 year high of $108.99.
Peloton Interactive (NASDAQ:PTON – Get Rating) last issued its earnings results on Thursday, August 25th. The company reported ($2.68) EPS for the quarter, missing the consensus estimate of ($0.70) by ($1.98). Peloton Interactive had a negative net margin of 78.64% and a negative return on equity of 102.05%. The company had revenue of $678.40 million for the quarter, compared to analyst estimates of $682.93 million. In the same quarter last year, the company made ($1.05) earnings per share. The company’s revenue fell 27.6% compared to the prior-year quarter. Sell-side analysts expect Peloton Interactive to report earnings per share of -2.11 for the current fiscal year.
Company Profile of Peloton Interactive
Peloton Interactive, Inc provides interactive fitness products in North America and internationally. It offers connected touchscreen fitness products that stream live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread and Peloton Tread+ brands. The company also offers connected fitness subscriptions for various household users and access to various live and on-demand classes, as well as the Peloton Digital app for connected fitness subscribers to access its classes.
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