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Pandora Media (NYSE:P) shares dropped 5.2% on Friday after an insider sold shares in the company, reports. The company traded as low as $24.01 and last traded at $24.09, with a volume of 5,519,580 shares changing hands. The stock had previously closed at $25.42.

Specifically, Director Crosslink Capital Inc unloaded 350,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $25.18, for a total transaction of $8,813,000.00. The sale was disclosed in a filing with the SEC, which is available at this link.

P has been the subject of a number of recent research reports. Analysts at Susquehanna cut their price target on shares of Pandora Media from $41.00 to $30.00 in a research note on Tuesday, May 20th. They now have a “positive” rating on the stock. Separately, analysts at Nomura reiterated a “neutral” rating on shares of Pandora Media in a research note on Wednesday, May 14th. They now have a $29.00 price target on the stock, down previously from $32.00. Finally, analysts at Raymond James upgraded shares of Pandora Media from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 14th. They now have a $31.00 price target on the stock. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the stock. Pandora Media presently has an average rating of “Buy” and a consensus target price of $33.44.

The stock’s 50-day moving average is $24.94 and its 200-day moving average is $30.32. The company’s market cap is $5.040 billion. Pandora Media also was the target of unusually large options trading on Friday. Stock investors acquired 12,325 put options on the company. This represents an increase of 113% compared to the average daily volume of 5,793 put options.

Pandora Media (NYSE:P) last issued its quarterly earnings data on Thursday, April 24th. The company reported ($0.13) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.14) by $0.01. The company had revenue of $194.30 million for the quarter, compared to the consensus estimate of $174.94 million. The company’s quarterly revenue was up 68.8% on a year-over-year basis. On average, analysts predict that Pandora Media will post $0.17 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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