State Street Corp lifted its stake in shares of Pandora Media, Inc. (NYSE:P) by 2.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,009,871 shares of the Internet radio service’s stock after purchasing an additional 59,948 shares during the quarter. State Street Corp owned 1.24% of Pandora Media worth $26,850,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Falcon Point Capital LLC bought a new stake in shares of Pandora Media during the 2nd quarter valued at approximately $102,000. Prudential Financial Inc. bought a new stake in shares of Pandora Media during the 2nd quarter valued at approximately $109,000. Aperio Group LLC bought a new stake in shares of Pandora Media during the 2nd quarter valued at approximately $115,000. Northwestern Mutual Wealth Management Co. boosted its position in Pandora Media by 49.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 15,015 shares of the Internet radio service’s stock worth $134,000 after buying an additional 5,000 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its position in Pandora Media by 47.6% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 15,500 shares of the Internet radio service’s stock worth $139,000 after buying an additional 5,000 shares during the period.
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Several research firms recently commented on P. Wedbush reiterated a “buy” rating on shares of Pandora Media in a research report on Wednesday, July 26th. BMO Capital Markets reiterated a “hold” rating and set a $12.00 target price on shares of Pandora Media in a research report on Sunday, July 16th. Bank of America Corporation reiterated an “underperform” rating and set a $7.50 target price (down from $9.00) on shares of Pandora Media in a research report on Tuesday, August 1st. Credit Suisse Group reiterated a “neutral” rating and set a $8.95 target price (up from $8.55) on shares of Pandora Media in a research report on Tuesday, August 1st. Finally, Royal Bank Of Canada cut their target price on shares of Pandora Media from $15.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $11.24.
In other Pandora Media news, EVP David Gerbitz sold 9,959 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total transaction of $83,854.78. Following the sale, the executive vice president now directly owns 355,607 shares of the company’s stock, valued at $2,994,210.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CRO John Trimble sold 10,547 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total transaction of $88,805.74. The disclosure for this sale can be found here. Insiders sold a total of 67,366 shares of company stock worth $564,822 over the last three months. 2.59% of the stock is owned by insiders.
Pandora Media, Inc. (P) opened at $4.57 on Monday. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 1.58. Pandora Media, Inc. has a fifty-two week low of $4.44 and a fifty-two week high of $14.10.
Pandora Media (NYSE:P) last issued its quarterly earnings results on Thursday, November 2nd. The Internet radio service reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.02. The company had revenue of $378.60 million for the quarter, compared to the consensus estimate of $380.54 million. Pandora Media had a negative net margin of 39.49% and a negative return on equity of 74.78%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.07) EPS. equities analysts expect that Pandora Media, Inc. will post -1.09 EPS for the current year.
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.
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