Pandora Media (P) Downgraded to “Hold” at Vetr

Pandora Media (NYSE:P) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a report issued on Wednesday. They currently have a $5.06 price target on the Internet radio service’s stock. Vetr‘s price objective would indicate a potential upside of 3.27% from the stock’s current price.

A number of other brokerages have also weighed in on P. Zacks Investment Research upgraded Pandora Media from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. JPMorgan Chase & Co. lowered Pandora Media from an “overweight” rating to a “neutral” rating and set a $9.00 price objective for the company. in a research report on Friday, November 3rd. B. Riley lowered Pandora Media from a “buy” rating to a “neutral” rating and cut their price objective for the company from $11.00 to $8.00 in a research report on Friday, November 3rd. SunTrust Banks lowered Pandora Media from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. Finally, Stifel Nicolaus lowered Pandora Media from a “buy” rating to a “hold” rating and cut their price objective for the company from $12.00 to $8.00 in a research report on Friday, November 3rd. Four equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and eleven have given a buy rating to the company’s stock. Pandora Media currently has a consensus rating of “Hold” and a consensus target price of $10.13.

Shares of Pandora Media (P) traded up $0.08 during trading on Wednesday, hitting $4.90. The stock had a trading volume of 6,773,087 shares, compared to its average volume of 8,830,000. The stock has a market capitalization of $1,220.00, a price-to-earnings ratio of -1.97 and a beta of -0.48. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 1.58. Pandora Media has a 52-week low of $4.09 and a 52-week high of $13.72.

In other Pandora Media news, EVP David Gerbitz sold 9,523 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $5.11, for a total value of $48,662.53. Following the completion of the sale, the executive vice president now owns 316,084 shares of the company’s stock, valued at $1,615,189.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Roger Lynch sold 78,707 shares of the firm’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $4.77, for a total transaction of $375,432.39. Following the completion of the sale, the chief executive officer now directly owns 701,607 shares of the company’s stock, valued at approximately $3,346,665.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,389 shares of company stock valued at $567,987. 2.59% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Pandora Media by 4.8% in the second quarter. Vanguard Group Inc. now owns 18,059,537 shares of the Internet radio service’s stock worth $161,092,000 after purchasing an additional 829,682 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its stake in Pandora Media by 126.9% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 16,000,000 shares of the Internet radio service’s stock worth $77,120,000 after purchasing an additional 8,947,201 shares during the last quarter. Slate Path Capital LP lifted its stake in Pandora Media by 9.1% in the fourth quarter. Slate Path Capital LP now owns 11,215,000 shares of the Internet radio service’s stock worth $54,056,000 after purchasing an additional 935,000 shares during the last quarter. First Trust Advisors LP lifted its stake in Pandora Media by 55.8% in the fourth quarter. First Trust Advisors LP now owns 10,526,204 shares of the Internet radio service’s stock worth $50,736,000 after purchasing an additional 3,768,553 shares during the last quarter. Finally, Hunt Lane Capital LP lifted its stake in Pandora Media by 114.1% in the fourth quarter. Hunt Lane Capital LP now owns 6,850,000 shares of the Internet radio service’s stock worth $33,017,000 after purchasing an additional 3,650,000 shares during the last quarter.

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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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