Pandora Media, Inc. (NYSE:P) was the recipient of unusually large options trading activity on Friday. Stock traders acquired 5,973 put options on the stock. This represents an increase of approximately 135% compared to the typical daily volume of 2,546 put options.

Pandora Media (NYSE P) opened at 9.56 on Wednesday. The company has a 50 day moving average of $8.52 and a 200 day moving average of $10.91. Pandora Media has a 52 week low of $6.76 and a 52 week high of $14.98. The stock’s market capitalization is $2.30 billion.

Pandora Media (NYSE:P) last released its earnings results on Monday, May 8th. The Internet radio service reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.13. Pandora Media had a negative return on equity of 45.15% and a negative net margin of 25.66%. The business had revenue of $316 million for the quarter, compared to analyst estimates of $318.15 million. During the same quarter last year, the firm posted ($0.20) earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. Equities analysts expect that Pandora Media will post ($0.50) EPS for the current fiscal year.

P has been the subject of several analyst reports. Wells Fargo & Company reiterated a “market perform” rating and issued a $10.00 target price (down previously from $12.00) on shares of Pandora Media in a report on Monday, June 12th. B. Riley reiterated a “buy” rating and issued a $15.00 target price on shares of Pandora Media in a report on Tuesday, May 9th. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $7.00 target price (down previously from $12.00) on shares of Pandora Media in a report on Sunday, June 18th. William Blair reiterated an “outperform” rating on shares of Pandora Media in a report on Tuesday, May 9th. Finally, MKM Partners reiterated a “neutral” rating and issued a $10.00 target price (down previously from $12.00) on shares of Pandora Media in a report on Tuesday, May 23rd. Two equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Pandora Media presently has a consensus rating of “Hold” and an average price target of $13.03.

In other Pandora Media news, President Michael S. Herring sold 11,730 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $9.38, for a total transaction of $110,027.40. Following the transaction, the president now owns 548,230 shares in the company, valued at $5,142,397.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David Gerbitz sold 8,103 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $9.38, for a total transaction of $76,006.14. Following the transaction, the executive vice president now owns 255,943 shares in the company, valued at approximately $2,400,745.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,642 shares of company stock worth $411,284. Corporate insiders own 2.59% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its stake in Pandora Media by 0.9% in the fourth quarter. State Street Corp now owns 2,839,097 shares of the Internet radio service’s stock worth $37,022,000 after buying an additional 24,152 shares during the last quarter. FMR LLC raised its stake in Pandora Media by 38.5% in the fourth quarter. FMR LLC now owns 1,166,394 shares of the Internet radio service’s stock worth $15,210,000 after buying an additional 324,400 shares during the last quarter. Franklin Resources Inc. raised its stake in Pandora Media by 9.8% in the fourth quarter. Franklin Resources Inc. now owns 13,315 shares of the Internet radio service’s stock worth $174,000 after buying an additional 1,190 shares during the last quarter. Janus Capital Management LLC raised its stake in Pandora Media by 144.4% in the fourth quarter. Janus Capital Management LLC now owns 128,800 shares of the Internet radio service’s stock worth $1,680,000 after buying an additional 76,100 shares during the last quarter. Finally, Norges Bank acquired a new stake in Pandora Media during the fourth quarter worth $4,461,000.

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About Pandora Media

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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