Pandora Media Inc. (NYSE:P) General Counsel Stephen G. Bene sold 6,574 shares of the firm’s stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $7.40, for a total value of $48,647.60. Following the completion of the transaction, the general counsel now owns 604,241 shares in the company, valued at approximately $4,471,383.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of P stock traded down $0.02 during mid-day trading on Friday, reaching $7.39. 4,346,828 shares of the stock traded hands, compared to its average volume of 10,601,927. Pandora Media Inc. has a 1-year low of $4.09 and a 1-year high of $9.98. 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 (NYSE:P) last announced its quarterly earnings results on Thursday, May 3rd. The Internet radio service reported ($0.27) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.38) by $0.11. Pandora Media had a negative return on equity of 198.06% and a negative net margin of 37.21%. The firm had revenue of $319.20 million for the quarter, compared to analyst estimates of $304.43 million. During the same period last year, the firm posted ($0.24) earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. analysts predict that Pandora Media Inc. will post -0.89 earnings per share for the current year.
P has been the topic of a number of recent analyst reports. Raymond James upgraded Pandora Media from a “market perform” rating to a “strong-buy” rating and set a $8.00 target price on the stock in a research report on Thursday, March 22nd. Wedbush set a $12.00 target price on Pandora Media and gave the company a “buy” rating in a research report on Friday, February 16th. UBS upgraded Pandora Media from a “market perform” rating to a “strong-buy” rating in a research report on Thursday, March 22nd. B. Riley reiterated a “hold” rating and issued a $8.00 target price on shares of Pandora Media in a research report on Thursday, February 1st. Finally, Aegis reiterated a “buy” rating and issued a $7.00 target price (down previously from $12.00) on shares of Pandora Media in a research report on Thursday, February 22nd. Four investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Pandora Media presently has a consensus rating of “Hold” and an average price target of $8.54.
Several institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC lifted its stake in shares of Pandora Media by 16.6% in the first quarter. Cubist Systematic Strategies LLC now owns 56,070 shares of the Internet radio service’s stock worth $282,000 after acquiring an additional 7,966 shares during the period. New York State Common Retirement Fund lifted its stake in shares of Pandora Media by 2.2% in the first quarter. New York State Common Retirement Fund now owns 501,700 shares of the Internet radio service’s stock worth $2,524,000 after acquiring an additional 10,800 shares during the period. UBS Asset Management Americas Inc. lifted its stake in shares of Pandora Media by 5.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 212,083 shares of the Internet radio service’s stock worth $1,022,000 after acquiring an additional 11,497 shares during the period. Xact Kapitalforvaltning AB lifted its stake in shares of Pandora Media by 41.0% in the first quarter. Xact Kapitalforvaltning AB now owns 40,252 shares of the Internet radio service’s stock worth $202,000 after acquiring an additional 11,700 shares during the period. Finally, Two Sigma Securities LLC lifted its stake in shares of Pandora Media by 106.7% in the fourth quarter. Two Sigma Securities LLC now owns 23,323 shares of the Internet radio service’s stock worth $112,000 after acquiring an additional 12,040 shares during the period.
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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