Pandora Media, Inc. (NYSE:P) General Counsel Stephen G. Bene sold 7,967 shares of the firm’s stock in a transaction 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 transaction, the general counsel now owns 330,865 shares in the company, valued at $1,690,720.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of Pandora Media, Inc. (P) traded up $0.20 on Thursday, reaching $5.33. The company’s stock had a trading volume of 8,276,601 shares, compared to its average volume of 9,838,209. Pandora Media, Inc. has a 12 month low of $4.44 and a 12 month high of $14.10. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 1.58.
Pandora Media (NYSE:P) last issued 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 during the quarter, compared to analysts’ expectations of $380.54 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. equities research analysts expect that Pandora Media, Inc. will post -1.09 earnings per share for the current year.
Several research analysts have commented on P shares. J P Morgan Chase & Co downgraded Pandora Media from an “overweight” rating to a “neutral” rating and set a $9.00 price objective on the stock. in a report on Friday, November 3rd. Zacks Investment Research upgraded Pandora Media from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Stifel Nicolaus set a $12.00 price target on Pandora Media and gave the company a “buy” rating in a report on Tuesday, October 31st. Piper Jaffray Companies set a $13.00 price target on Pandora Media and gave the company a “buy” rating in a report on Friday, October 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price target on shares of Pandora Media in a report on Thursday, September 14th. Three equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $11.11.
Hedge funds have recently modified their holdings of the company. Quinn Opportunity Partners LLC lifted its holdings in shares of Pandora Media by 17.9% in 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 buying an additional 85,000 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Pandora Media by 4.8% in the 2nd quarter. Vanguard Group Inc. now owns 18,059,537 shares of the Internet radio service’s stock valued at $161,092,000 after buying an additional 829,682 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Pandora Media in the 2nd quarter valued at about $10,047,000. SG Americas Securities LLC acquired a new position in shares of Pandora Media in the 2nd quarter valued at about $3,141,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Pandora Media in the 1st quarter valued at about $446,000.
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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