Vetr lowered shares of Pandora Media (NYSE:P) from a strong-buy rating to a buy rating in a research report report published on Tuesday, January 30th. The firm currently has $5.06 price target on the Internet radio service’s stock.
Several other equities analysts have also recently weighed in on P. Morgan Stanley cut Pandora Media from an overweight rating to an equal weight rating and reduced their price target for the company from $12.00 to $6.00 in a research report on Monday, January 8th. Zacks Investment Research cut Pandora Media from a hold rating to a sell rating in a research report on Friday, January 5th. SunTrust Banks set a $7.00 price target on Pandora Media and gave the company a hold rating in a research report on Tuesday, January 2nd. Raymond James Financial reissued a hold rating on shares of Pandora Media in a research note on Thursday, December 14th. Finally, Piper Jaffray Companies set a $9.00 price objective on Pandora Media and gave the company a buy rating in a research note on Tuesday, December 12th. Four investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and eleven have issued a buy rating to the company. Pandora Media has an average rating of Hold and an average price target of $10.13.
Pandora Media (NYSE:P) traded up $0.08 during mid-day trading on Tuesday, hitting $4.90. The stock had a trading volume of 6,773,087 shares, compared to its average volume of 8,764,105. Pandora Media has a 52 week low of $4.09 and a 52 week high of $13.72. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $1,156.84, a price-to-earnings ratio of -1.98 and a beta of -0.48.
In other news, CEO Roger Lynch sold 78,707 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $4.77, for a total transaction of $375,432.39. Following the transaction, the chief executive officer now directly owns 701,607 shares of the company’s stock, valued at approximately $3,346,665.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher W. Phillips sold 9,988 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $5.11, for a total value of $51,038.68. Following the transaction, the insider now directly owns 413,884 shares in the company, valued at $2,114,947.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 116,389 shares of company stock worth $567,987. Insiders own 2.59% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC increased its stake in shares of Pandora Media by 0.9% in the 2nd quarter. Voya Investment Management LLC now owns 87,150 shares of the Internet radio service’s stock worth $777,000 after purchasing an additional 740 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Pandora Media by 8.8% in the 2nd quarter. Legal & General Group Plc now owns 76,259 shares of the Internet radio service’s stock worth $680,000 after purchasing an additional 6,141 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Pandora Media by 0.8% in the 2nd quarter. New York State Common Retirement Fund now owns 898,821 shares of the Internet radio service’s stock worth $8,017,000 after purchasing an additional 7,088 shares in the last quarter. Broadview Advisors LLC increased its stake in shares of Pandora Media by 1.0% in the 2nd quarter. Broadview Advisors LLC now owns 818,200 shares of the Internet radio service’s stock worth $7,298,000 after purchasing an additional 8,050 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Pandora Media by 2.5% in the 3rd quarter. Swiss National Bank now owns 401,900 shares of the Internet radio service’s stock worth $3,095,000 after purchasing an additional 9,900 shares in the last quarter.
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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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