Alyeska Investment Group L.P. increased its holdings in Pandora Media Inc (NYSE:P) by 21.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 5,165,300 shares of the Internet radio service’s stock after acquiring an additional 906,180 shares during the period. Alyeska Investment Group L.P. owned approximately 2.08% of Pandora Media worth $39,773,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Falcon Point Capital LLC purchased a new position in Pandora Media in the second quarter worth approximately $102,000. Prudential Financial Inc. purchased a new position in Pandora Media in the second quarter worth approximately $109,000. Fox Run Management L.L.C. purchased a new position in Pandora Media in the third quarter worth approximately $111,000. Symmetry Peak Management LLC purchased a new position in Pandora Media in the second quarter worth approximately $112,000. Finally, Aperio Group LLC purchased a new position in Pandora Media in the second quarter worth approximately $115,000.
In other Pandora Media news, General Counsel Stephen G. Bene sold 7,967 shares of Pandora Media 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 sale, the general counsel now owns 330,865 shares of the company’s stock, valued at approximately $1,690,720.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Gerbitz sold 9,523 shares of Pandora Media stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $5.11, for a total value of $48,662.53. Following the completion of the sale, the executive vice president now directly owns 316,084 shares in the company, valued at approximately $1,615,189.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,682 shares of company stock worth $192,555. Corporate insiders own 2.59% of the company’s stock.
Shares of Pandora Media Inc (NYSE:P) opened at $4.90 on Friday. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 1.58. Pandora Media Inc has a 52-week low of $4.44 and a 52-week high of $13.98.
Pandora Media (NYSE:P) last posted its 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 business had revenue of $378.60 million for the quarter, compared to analysts’ expectations of $380.54 million. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. sell-side analysts anticipate that Pandora Media Inc will post -1.09 earnings per share for the current year.
Several research firms have recently commented on P. Wells Fargo & Company restated a “hold” rating on shares of Pandora Media in a research report on Tuesday, August 15th. FBR & Co restated a “buy” rating and set a $11.00 price target on shares of Pandora Media in a research report on Tuesday, August 15th. BidaskClub upgraded Pandora Media from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Evercore ISI began coverage on Pandora Media in a research report on Tuesday. They set an “in-line” rating and a $5.50 price target for the company. Finally, Stifel Nicolaus set a $12.00 price target on Pandora Media and gave the stock a “buy” rating in a research report on Tuesday, August 15th. Three analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $10.94.
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Pandora Media Company Profile
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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