Ontario Teachers Pension Plan Board Boosts Stake in Pandora Media Inc (P)

Ontario Teachers Pension Plan Board lifted its stake in Pandora Media Inc (NYSE:P) by 126.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,000,000 shares of the Internet radio service’s stock after acquiring an additional 8,947,201 shares during the quarter. Pandora Media makes up 0.9% of Ontario Teachers Pension Plan Board’s portfolio, making the stock its 13th biggest holding. Ontario Teachers Pension Plan Board owned 0.06% of Pandora Media worth $77,120,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Northern Trust Corp boosted its holdings in Pandora Media by 3.7% in the second quarter. Northern Trust Corp now owns 1,105,624 shares of the Internet radio service’s stock worth $9,862,000 after purchasing an additional 39,333 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Pandora Media by 2.2% in the second quarter. California Public Employees Retirement System now owns 468,500 shares of the Internet radio service’s stock worth $4,179,000 after purchasing an additional 10,200 shares in the last quarter. Voya Investment Management LLC boosted its holdings in Pandora Media by 0.9% in the second 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. State Street Corp boosted its holdings in Pandora Media by 2.0% in the second quarter. State Street Corp now owns 3,009,871 shares of the Internet radio service’s stock worth $26,850,000 after purchasing an additional 59,948 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in Pandora Media by 68.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 42,270 shares of the Internet radio service’s stock worth $377,000 after purchasing an additional 17,231 shares in the last quarter.

In other news, CEO Roger Lynch sold 78,707 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $4.77, for a total transaction of $375,432.39. Following the completion of the transaction, the chief executive officer now owns 701,607 shares of the company’s stock, valued at $3,346,665.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.59% of the stock is currently owned by corporate insiders.

Pandora Media Inc (NYSE:P) opened at $5.16 on Monday. 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 $4.09 and a 52-week high of $13.72.

A number of equities research analysts have issued reports on P shares. Stifel Nicolaus set a $12.00 price target on shares of Pandora Media and gave the company a “buy” rating in a report on Tuesday, October 31st. Zacks Investment Research upgraded shares of Pandora Media from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Canaccord Genuity restated a “buy” rating and set a $14.00 price target on shares of Pandora Media in a report on Monday, October 30th. BMO Capital Markets upgraded shares of Pandora Media from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $11.00 to $7.00 in a report on Thursday, November 16th. Finally, FBR & Co restated a “buy” rating and set a $11.00 price target on shares of Pandora Media in a report on Tuesday, October 31st. Four research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $10.03.

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

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