Pandora Media Inc. (NYSE:P) COO David Gerbitz sold 7,082 shares of the stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $7.40, for a total transaction of $52,406.80. Following the transaction, the chief operating officer now owns 611,194 shares of the company’s stock, valued at $4,522,835.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Pandora Media stock traded down $0.02 during trading hours on Friday, hitting $7.39. The company had a trading volume of 4,346,828 shares, compared to its average volume of 10,601,927. The company has a debt-to-equity ratio of 6.15, a current ratio of 3.62 and a quick ratio of 3.62. Pandora Media Inc. has a one year low of $4.09 and a one year high of $9.98.
Pandora Media (NYSE:P) last released its quarterly earnings results on Thursday, May 3rd. The Internet radio service reported ($0.27) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.11. The firm had revenue of $319.20 million for the quarter, compared to analysts’ expectations of $304.43 million. Pandora Media had a negative net margin of 37.21% and a negative return on equity of 198.06%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.24) EPS. analysts forecast that Pandora Media Inc. will post -0.89 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in P. Ontario Teachers Pension Plan Board increased its holdings in shares of Pandora Media by 126.9% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 16,000,000 shares of the Internet radio service’s stock worth $77,120,000 after purchasing an additional 8,947,201 shares during the period. EastBay Asset Management LLC bought a new position in shares of Pandora Media during the fourth quarter worth approximately $29,127,000. First Trust Advisors LP increased its holdings in shares of Pandora Media by 55.8% during the fourth quarter. First Trust Advisors LP now owns 10,526,204 shares of the Internet radio service’s stock worth $50,736,000 after purchasing an additional 3,768,553 shares during the period. Hunt Lane Capital LP increased its holdings in shares of Pandora Media by 114.1% during the fourth quarter. Hunt Lane Capital LP now owns 6,850,000 shares of the Internet radio service’s stock worth $33,017,000 after purchasing an additional 3,650,000 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in shares of Pandora Media by 91.0% during the first quarter. Point72 Asset Management L.P. now owns 7,199,893 shares of the Internet radio service’s stock worth $36,215,000 after purchasing an additional 3,430,893 shares during the period.
P has been the subject of a number of recent research reports. BMO Capital Markets upgraded shares of Pandora Media to an “outperform” rating and set a $9.00 price objective for the company in a research note on Monday, May 7th. Vetr downgraded shares of Pandora Media from a “buy” rating to a “hold” rating and set a $5.06 price objective for the company. in a research note on Monday, February 5th. B. Riley reduced their price objective on shares of Pandora Media from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Canaccord Genuity set a $8.00 target price on shares of Pandora Media and gave the company a “buy” rating in a research note on Friday, May 4th. Finally, Zacks Investment Research upgraded shares of Pandora Media from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. Four research analysts have rated the stock with a sell rating, twenty have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Pandora Media currently has a consensus rating of “Hold” and an average price target of $8.54.
Pandora Media Company Profile
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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