Pandora Media Inc (NYSE:P) COO David Gerbitz sold 36,577 shares of the company’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $8.16, for a total transaction of $298,468.32. Following the transaction, the chief operating officer now owns 574,617 shares in the company, valued at $4,688,874.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of P stock traded up $0.04 during trading hours on Monday, hitting $8.06. The company’s stock had a trading volume of 5,344,500 shares, compared to its average volume of 9,334,072. The firm has a market capitalization of $2.11 billion, a PE ratio of -6.40 and a beta of -0.63. Pandora Media Inc has a twelve month low of $4.09 and a twelve month high of $8.77. The company has a debt-to-equity ratio of 2.76, a current ratio of 2.73 and a quick ratio of 2.73.
Pandora Media (NYSE:P) last released its quarterly earnings results on Tuesday, July 31st. The Internet radio service reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.12. The business had revenue of $384.79 million for the quarter, compared to analyst estimates of $373.61 million. Pandora Media had a negative net margin of 24.14% and a negative return on equity of 243.61%. sell-side analysts anticipate that Pandora Media Inc will post -0.95 earnings per share for the current year.
Several brokerages have weighed in on P. B. Riley upped their target price on shares of Pandora Media from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Wedbush set a $10.00 target price on shares of Pandora Media and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Cascend Securities began coverage on shares of Pandora Media in a research report on Monday, May 14th. They set a “sell” rating and a $6.00 target price on the stock. ValuEngine upgraded shares of Pandora Media from a “sell” rating to a “hold” rating in a research report on Monday, June 11th. Finally, Canaccord Genuity set a $10.00 target price on shares of Pandora Media and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $7.85.
Several hedge funds have recently added to or reduced their stakes in the company. Two Sigma Advisers LP purchased a new position in shares of Pandora Media during the fourth quarter valued at approximately $110,000. Global X Management Co. LLC lifted its stake in shares of Pandora Media by 19.0% during the first quarter. Global X Management Co. LLC now owns 361,462 shares of the Internet radio service’s stock valued at $1,818,000 after buying an additional 57,620 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Pandora Media by 233.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 468,987 shares of the Internet radio service’s stock valued at $2,359,000 after buying an additional 328,235 shares during the period. SG Americas Securities LLC lifted its stake in shares of Pandora Media by 188.0% during the first quarter. SG Americas Securities LLC now owns 700,484 shares of the Internet radio service’s stock valued at $3,523,000 after buying an additional 457,276 shares during the period. Finally, Brighton Jones LLC lifted its stake in shares of Pandora Media by 46.9% during the first quarter. Brighton Jones LLC now owns 40,357 shares of the Internet radio service’s stock valued at $203,000 after buying an additional 12,892 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.
About Pandora Media
Pandora Media, Inc provides music discovery platform services in the United States and internationally. The company offers streaming radio and on-demand music services, which enable the listeners to create personalized stations and playlists, as well as search and play songs and albums on-demand. It also provides Pandora?Ad-Supported Radio Service, an ad-supported service that allows listeners to access a catalog of music, comedy, livestreams, and podcasts through its personalized playlist generating system for free across its various delivery platforms, as well as Premium Access, a service to listeners to access on-demand listening experience; and Pandora Plus, a subscription radio service, which also includes replays, additional skipping of songs, offline listening, higher quality audio on supported devices, and longer timeout-free listening.
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