Pandora Media Director Sells $130,000,000 in Stock (P)
Pandora Media (NYSE:P) Director Crosslink Capital Inc sold 5,200,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $25.00, for a total value of $130,000,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Goldman Sachs Group Inc. raised their price target on shares of Pandora Media (NYSE:P) from $29.00 to $30.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at CRT Capital initiated coverage on shares of Pandora Media (NYSE:P) in a research note to investors on Thursday. They set a “fair value” rating on the stock. Finally, analysts at Albert Fried & Company reiterated a “market perform” rating on shares of Pandora Media (NYSE:P) in a research note to investors on Thursday, September 12th.
Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $19.68.
Pandora Media (NYSE:P) traded down 10.11% on Monday, hitting $24.26. 35,632,504 shares of the company’s stock traded hands. Pandora Media has a 1-year low of $7.08 and a 1-year high of $27.50. The stock’s 50-day moving average is $20.81 and its 200-day moving average is $16.85. The company’s market cap is $4.280 billion. Pandora Media also was the recipient of unusually large options trading activity on Monday. Traders acquired 38,243 put options on the stock. This is an increase of 234% compared to the average volume of 11,435 put options.
Pandora Media (NYSE:P) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.04 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.02 by $0.02. The company had revenue of $157.40 million for the quarter, compared to the consensus estimate of $156.35 million. Pandora Media’s revenue was up 55.4% compared to the same quarter last year. On average, analysts predict that Pandora Media will post $0.03 earnings per share for the current fiscal year.
Pandora Media, Inc (NYSE:P), is an Internet radio in the United States.
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