TIAA CREF Investment Management LLC Boosts Stake in Pandora Media, Inc. (P)

TIAA CREF Investment Management LLC increased its position in Pandora Media, Inc. (NYSE:P) by 3.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 692,804 shares of the Internet radio service’s stock after purchasing an additional 24,988 shares during the period. TIAA CREF Investment Management LLC owned 0.29% of Pandora Media worth $6,180,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Quinn Opportunity Partners LLC raised its stake in Pandora Media by 17.9% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 559,262 shares of the Internet radio service’s stock valued at $4,989,000 after acquiring an additional 85,000 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Pandora Media during the 2nd quarter valued at approximately $3,141,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Pandora Media during the 2nd quarter valued at approximately $10,047,000. Principal Financial Group Inc. purchased a new stake in Pandora Media during the 1st quarter valued at approximately $446,000. Finally, Brighton Jones LLC purchased a new stake in Pandora Media during the 2nd quarter valued at approximately $267,000.

Pandora Media, Inc. (NYSE P) opened at 7.97 on Friday. Pandora Media, Inc. has a 1-year low of $6.76 and a 1-year high of $14.10. The company’s 50 day moving average is $8.13 and its 200-day moving average is $9.08. The firm’s market cap is $1.93 billion.

Pandora Media (NYSE:P) last released its quarterly earnings results on Monday, July 31st. The Internet radio service reported ($0.31) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.08. Pandora Media had a negative net margin of 39.90% and a negative return on equity of 58.81%. The firm had revenue of $376.83 million for the quarter, compared to analyst estimates of $367.51 million. During the same period in the previous year, the business earned ($0.12) earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts predict that Pandora Media, Inc. will post ($0.50) EPS for the current fiscal year.

P has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of Pandora Media in a research note on Thursday, July 6th. Aegis reiterated a “buy” rating and set a $13.00 target price on shares of Pandora Media in a research report on Friday, June 30th. FBR & Co reiterated a “buy” rating and set a $11.00 target price on shares of Pandora Media in a research report on Monday, June 26th. Gabelli initiated coverage on Pandora Media in a research report on Wednesday, June 21st. They set a “buy” rating and a $12.00 target price on the stock. Finally, Wedbush reiterated a “buy” rating on shares of Pandora Media in a research report on Wednesday, July 26th. Four equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Pandora Media currently has a consensus rating of “Hold” and an average target price of $11.76.

COPYRIGHT VIOLATION WARNING: “TIAA CREF Investment Management LLC Boosts Stake in Pandora Media, Inc. (P)” was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another domain, it was stolen and reposted in violation of international copyright & trademark law. The legal version of this article can be accessed at https://ledgergazette.com/2017/10/15/tiaa-cref-investment-management-llc-boosts-stake-in-pandora-media-inc-p.html.

In other news, EVP David Gerbitz sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $8.34, for a total transaction of $250,200.00. Following the transaction, the executive vice president now directly owns 335,607 shares in the company, valued at $2,798,962.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Stephen G. Bene sold 6,538 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total transaction of $55,049.96. The disclosure for this sale can be found here. Insiders have sold 67,366 shares of company stock worth $564,822 over the last quarter. 2.59% of the stock is owned by company insiders.

Other institutional investors have also recently bought and sold shares of the company. Quinn Opportunity Partners LLC raised its stake in Pandora Media by 17.9% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 559,262 shares of the Internet radio service’s stock valued at $4,989,000 after acquiring an additional 85,000 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Pandora Media during the 2nd quarter valued at approximately $3,141,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Pandora Media during the 2nd quarter valued at approximately $10,047,000. Principal Financial Group Inc. purchased a new stake in Pandora Media during the 1st quarter valued at approximately $446,000. Finally, Brighton Jones LLC purchased a new stake in Pandora Media during the 2nd quarter valued at approximately $267,000.

Pandora Media, Inc. (NYSE P) opened at 7.97 on Friday. Pandora Media, Inc. has a 1-year low of $6.76 and a 1-year high of $14.10. The company’s 50 day moving average is $8.13 and its 200-day moving average is $9.08. The firm’s market cap is $1.93 billion.

Pandora Media (NYSE:P) last released its quarterly earnings results on Monday, July 31st. The Internet radio service reported ($0.31) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.08. Pandora Media had a negative net margin of 39.90% and a negative return on equity of 58.81%. The firm had revenue of $376.83 million for the quarter, compared to analyst estimates of $367.51 million. During the same period in the previous year, the business earned ($0.12) earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts predict that Pandora Media, Inc. will post ($0.50) EPS for the current fiscal year.

P has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of Pandora Media in a research note on Thursday, July 6th. Aegis reiterated a “buy” rating and set a $13.00 target price on shares of Pandora Media in a research report on Friday, June 30th. FBR & Co reiterated a “buy” rating and set a $11.00 target price on shares of Pandora Media in a research report on Monday, June 26th. Gabelli initiated coverage on Pandora Media in a research report on Wednesday, June 21st. They set a “buy” rating and a $12.00 target price on the stock. Finally, Wedbush reiterated a “buy” rating on shares of Pandora Media in a research report on Wednesday, July 26th. Four equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Pandora Media currently has a consensus rating of “Hold” and an average target price of $11.76.

COPYRIGHT VIOLATION WARNING: “TIAA CREF Investment Management LLC Boosts Stake in Pandora Media, Inc. (P)” was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another domain, it was stolen and reposted in violation of international copyright & trademark law. The legal version of this article can be accessed at https://ledgergazette.com/2017/10/15/tiaa-cref-investment-management-llc-boosts-stake-in-pandora-media-inc-p.html.

In other news, EVP David Gerbitz sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $8.34, for a total transaction of $250,200.00. Following the transaction, the executive vice president now directly owns 335,607 shares in the company, valued at $2,798,962.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Stephen G. Bene sold 6,538 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total transaction of $55,049.96. The disclosure for this sale can be found here. Insiders have sold 67,366 shares of company stock worth $564,822 over the last quarter. 2.59% of the stock is owned by company insiders.

About Pandora Media

Pandora Media, Inc (Pandora) is a music discovery platform, offering a personalized experience for each of its listeners wherever and whenever they want to listen to music, whether through earbuds, car speakers or live on stage. The Company delivers targeted messages to its listeners using a combination of audio, display and video advertisements.

Institutional Ownership by Quarter for Pandora Media (NYSE:P)

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