UBS Asset Management Americas Inc. Raises Position in Pandora Media, Inc. (NYSE:P)

UBS Asset Management Americas Inc. boosted its stake in shares of Pandora Media, Inc. (NYSE:P) by 27.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 198,757 shares of the Internet radio service’s stock after buying an additional 43,120 shares during the period. UBS Asset Management Americas Inc. owned about 0.08% of Pandora Media worth $1,773,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Marshall Wace North America L.P. boosted its position in Pandora Media by 789.9% during the second quarter. Marshall Wace North America L.P. now owns 3,084,210 shares of the Internet radio service’s stock worth $27,758,000 after purchasing an additional 2,737,635 shares during the period. First Trust Advisors LP boosted its position in Pandora Media by 51.9% during the second quarter. First Trust Advisors LP now owns 7,183,485 shares of the Internet radio service’s stock worth $64,077,000 after purchasing an additional 2,454,296 shares during the period. Clearbridge Investments LLC boosted its position in Pandora Media by 37,810.3% during the first quarter. Clearbridge Investments LLC now owns 1,442,865 shares of the Internet radio service’s stock worth $17,040,000 after purchasing an additional 1,439,059 shares during the period. Locust Wood Capital Advisers LLC bought a new stake in Pandora Media during the second quarter worth approximately $12,574,000. Finally, SLS Management LLC boosted its position in Pandora Media by 200.5% during the second quarter. SLS Management LLC now owns 2,090,156 shares of the Internet radio service’s stock worth $18,644,000 after purchasing an additional 1,394,520 shares during the period.

In other Pandora Media news, EVP David Gerbitz sold 9,959 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total transaction of $83,854.78. Following the completion of the sale, the executive vice president now directly owns 355,607 shares in the company, valued at approximately $2,994,210.94. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Christopher W. Phillips sold 10,322 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total transaction of $86,911.24. Following the sale, the insider now owns 423,872 shares of the company’s stock, valued at $3,569,002.24. 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 ninety days. 2.59% of the stock is currently owned by insiders.

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Several research analysts have issued reports on P shares. Canaccord Genuity reiterated a “buy” rating and set a $14.00 price objective (down from $15.00) on shares of Pandora Media in a research note on Tuesday, August 1st. MKM Partners restated a “neutral” rating and issued a $10.00 target price on shares of Pandora Media in a research note on Wednesday, August 2nd. Wells Fargo & Company restated a “hold” rating on shares of Pandora Media in a research note on Tuesday, August 15th. Barrington Research reiterated a “market perform” rating on shares of Pandora Media in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $12.00 price target (down previously from $14.00) on shares of Pandora Media in a report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $11.88.

Shares of Pandora Media, Inc. (P) opened at 7.27 on Friday. The stock’s market capitalization is $1.76 billion. The stock has a 50 day moving average price of $7.98 and a 200 day moving average price of $8.83. Pandora Media, Inc. has a 52 week low of $6.76 and a 52 week high of $14.10.

Pandora Media (NYSE:P) last issued its quarterly earnings results on Monday, July 31st. The Internet radio service reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.08. Pandora Media had a negative return on equity of 58.81% and a negative net margin of 39.90%. The firm had revenue of $376.83 million for the quarter, compared to analysts’ expectations of $367.51 million. During the same period in the previous year, the firm posted ($0.12) EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities research analysts expect that Pandora Media, Inc. will post ($0.51) 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.

Institutional Ownership by Quarter for Pandora Media (NYSE:P)

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