Pandora Media, Inc. (P) General Counsel Sells $55,049.96 in Stock
Pandora Media, Inc. (NYSE:P) General Counsel Stephen G. Bene sold 6,538 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total transaction of $55,049.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Pandora Media, Inc. (NYSE P) traded down 2.08% during trading on Thursday, hitting $8.49. 3,883,792 shares of the company were exchanged. The company has a 50 day moving average of $8.91 and a 200-day moving average of $10.34. Pandora Media, Inc. has a 1-year low of $6.76 and a 1-year high of $14.98. The stock’s market capitalization is $2.06 billion.
Pandora Media (NYSE:P) last released its quarterly earnings data on Monday, July 31st. The Internet radio service reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.08. Pandora Media had a negative return on equity of 58.81% and a negative net margin of 39.90%. The company had revenue of $376.83 million during the quarter, compared to the consensus estimate of $367.51 million. During the same period last year, the company earned ($0.12) EPS. Pandora Media’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts forecast that Pandora Media, Inc. will post ($0.51) earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in P. Stoneridge Investment Partners LLC boosted its position in Pandora Media by 54.1% in the first quarter. Stoneridge Investment Partners LLC now owns 89,225 shares of the Internet radio service’s stock worth $1,054,000 after buying an additional 31,339 shares during the last quarter. Principal Financial Group Inc. bought a new position in Pandora Media during the first quarter worth $446,000. SLS Management LLC boosted its position in Pandora Media by 46.0% in the first quarter. SLS Management LLC now owns 695,636 shares of the Internet radio service’s stock worth $8,215,000 after buying an additional 219,250 shares during the last quarter. Teachers Advisors LLC boosted its position in Pandora Media by 4.1% in the fourth quarter. Teachers Advisors LLC now owns 1,043,059 shares of the Internet radio service’s stock worth $13,601,000 after buying an additional 41,279 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in Pandora Media by 12.5% in the first quarter. Blair William & Co. IL now owns 112,955 shares of the Internet radio service’s stock worth $1,340,000 after buying an additional 12,579 shares during the last quarter.
Several equities analysts have recently weighed in on P shares. Stifel Nicolaus reissued a “buy” rating and issued a $15.00 price objective on shares of Pandora Media in a research report on Wednesday, April 19th. B. Riley reissued a “buy” rating and issued a $15.00 price objective on shares of Pandora Media in a research report on Tuesday, May 9th. BMO Capital Markets dropped their price objective on shares of Pandora Media from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Tuesday, May 9th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $15.00 price objective (down from $16.00) on shares of Pandora Media in a research report on Tuesday, May 9th. Finally, Instinet dropped their price objective on shares of Pandora Media from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 9th. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $12.07.
Pandora Media Company Profile
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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