Tocqueville Asset Management L.P. trimmed its position in shares of Pandora Media Inc (NYSE:P) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 250,808 shares of the Internet radio service’s stock after selling 10,468 shares during the quarter. Tocqueville Asset Management L.P. owned 0.10% of Pandora Media worth $1,209,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Partners Capital Investment Group LLP acquired a new stake in shares of Pandora Media during the fourth quarter worth $723,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Pandora Media during the fourth quarter worth $301,000. Alliancebernstein L.P. raised its holdings in shares of Pandora Media by 3.7% during the fourth quarter. Alliancebernstein L.P. now owns 376,008 shares of the Internet radio service’s stock worth $1,812,000 after acquiring an additional 13,261 shares during the period. Gagnon Securities LLC acquired a new stake in shares of Pandora Media during the fourth quarter worth $722,000. Finally, Geode Capital Management LLC raised its holdings in shares of Pandora Media by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 1,927,285 shares of the Internet radio service’s stock worth $9,289,000 after acquiring an additional 58,950 shares during the period.
Shares of Pandora Media Inc (P) opened at $4.98 on Monday. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 1.79. The stock has a market cap of $1,269.32, a PE ratio of -2.16 and a beta of -0.38. Pandora Media Inc has a twelve month low of $4.09 and a twelve month high of $12.42.
Several brokerages have issued reports on P. Macquarie reiterated a “hold” rating and issued a $5.00 price target on shares of Pandora Media in a research note on Sunday, February 25th. Vetr lowered shares of Pandora Media from a “buy” rating to a “hold” rating and set a $5.06 price target on the stock. in a research note on Monday, February 5th. Wells Fargo & Co reiterated a “hold” rating and issued a $6.00 price target on shares of Pandora Media in a research note on Thursday, February 22nd. Credit Suisse Group reiterated a “neutral” rating and issued a $5.00 price target (down from $6.00) on shares of Pandora Media in a research note on Thursday, February 22nd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $7.00 price target on shares of Pandora Media in a research note on Friday, February 23rd. Three equities research analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $9.14.
In other Pandora Media news, CEO Roger Lynch sold 78,707 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $4.77, for a total value of $375,432.39. Following the completion of the sale, the chief executive officer now owns 701,607 shares of the company’s stock, valued at approximately $3,346,665.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Stephen G. Bene sold 11,260 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $5.07, for a total transaction of $57,088.20. The disclosure for this sale can be found here. Insiders sold a total of 124,204 shares of company stock valued at $606,102 in the last three months. Insiders own 2.59% of the company’s stock.
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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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