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Pandora Media (NYSE:P) dropped 3.2% during trading on Thursday after an insider sold shares in the company, StockRatingsNetwork reports. The stock traded as low as $26.51 and last traded at $26.54, with a volume of 3,752,323 shares traded. The stock had previously closed at $27.43.

Specifically, CRO John Trimble sold 40,000 shares of Pandora Media stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $27.44, for a total value of $1,097,600.00. The transaction was disclosed in a filing with the SEC, which is available at this link.

A number of analysts have recently weighed in on P shares. Analysts at MKM Partners reiterated a “buy” rating on shares of Pandora Media in a research note on Monday, August 25th. Separately, analysts at Stifel Nicolaus initiated coverage on shares of Pandora Media in a research note on Wednesday, August 13th. They set a “buy” rating and a $34.00 price target on the stock. Finally, analysts at Singular Research reiterated a “sell” rating on shares of Pandora Media in a research note on Monday, July 28th. They now have a $17.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $34.99.

The stock has a 50-day moving average of $26.61 and a 200-day moving average of $28.34. The company’s market cap is $5.502 billion. Pandora Media also saw unusually large options trading activity on Wednesday. Stock investors acquired 31,756 call options on the company. This is an increase of 265% compared to the average daily volume of 8,701 call options.

Pandora Media (NYSE:P) last released its earnings data on Thursday, July 24th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The company had revenue of $218.90 million for the quarter, compared to the consensus estimate of $218.54 million. The company’s revenue for the quarter was up 43.0% on a year-over-year basis. On average, analysts predict that Pandora Media will post $0.18 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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