Welch Capital Partners LLC NY reduced its holdings in shares of Pandora Media, Inc. (NYSE:P) by 13.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 817,230 shares of the Internet radio service’s stock after selling 132,460 shares during the period. Pandora Media comprises approximately 2.1% of Welch Capital Partners LLC NY’s portfolio, making the stock its 21st biggest holding. Welch Capital Partners LLC NY owned about 0.33% of Pandora Media worth $6,293,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Falcon Point Capital LLC purchased a new stake in shares of Pandora Media during the second quarter valued at approximately $102,000. Prudential Financial Inc. purchased a new stake in shares of Pandora Media during the second quarter valued at approximately $109,000. Fox Run Management L.L.C. purchased a new stake in shares of Pandora Media during the third quarter valued at approximately $111,000. Symmetry Peak Management LLC purchased a new stake in shares of Pandora Media during the second quarter valued at approximately $112,000. Finally, Aperio Group LLC purchased a new stake in shares of Pandora Media during the second quarter valued at approximately $115,000.
In related news, EVP David Gerbitz sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $8.34, for a total value of $250,200.00. Following the transaction, the executive vice president now directly owns 335,607 shares of the company’s stock, valued at approximately $2,798,962.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Stephen G. Bene sold 7,967 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $5.11, for a total value of $40,711.37. Following the completion of the transaction, the general counsel now directly owns 330,865 shares in the company, valued at $1,690,720.15. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,682 shares of company stock worth $442,755. 2.59% of the stock is owned by insiders.
A number of analysts recently commented on the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $14.00 price target (down previously from $15.00) on shares of Pandora Media in a research note on Tuesday, August 1st. MKM Partners reaffirmed a “neutral” rating and issued a $10.00 price target on shares of Pandora Media in a research note on Wednesday, August 2nd. Wells Fargo & Company reaffirmed a “hold” rating on shares of Pandora Media in a research note on Tuesday, August 15th. Barrington Research reaffirmed a “market perform” rating on shares of Pandora Media in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $12.00 price target (down previously from $14.00) on shares of Pandora Media in a research note on Tuesday, August 1st. Three analysts have rated the stock with a sell rating, twenty-four have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $11.11.
Pandora Media, Inc. (P) traded down $0.06 during midday trading on Tuesday, reaching $5.10. The company had a trading volume of 3,291,812 shares, compared to its average volume of 9,851,762. The company has a debt-to-equity ratio of 1.58, a quick ratio of 4.18 and a current ratio of 4.18. Pandora Media, Inc. has a one year low of $4.44 and a one year high of $14.10.
Pandora Media (NYSE:P) last posted its quarterly earnings results on Thursday, November 2nd. The Internet radio service reported ($0.06) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.02. Pandora Media had a negative return on equity of 74.78% and a negative net margin of 39.49%. The company had revenue of $378.60 million for the quarter, compared to analysts’ expectations of $380.54 million. During the same period in the previous year, the firm earned ($0.07) EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. equities analysts forecast that Pandora Media, Inc. will post -1.09 earnings per share for the current year.
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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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