EULAV Asset Management boosted its stake in Pandora Media, Inc. (NYSE:P) by 9.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 485,000 shares of the Internet radio service’s stock after buying an additional 40,000 shares during the period. EULAV Asset Management owned about 0.21% of Pandora Media worth $6,950,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Pandora Media by 3.2% in the second quarter. Vanguard Group Inc. now owns 15,383,890 shares of the Internet radio service’s stock valued at $191,529,000 after buying an additional 474,859 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Pandora Media by 2.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 5,406,186 shares of the Internet radio service’s stock valued at $77,471,000 after buying an additional 143,748 shares in the last quarter. Cornerstone Capital Management LLC boosted its position in Pandora Media by 17.5% in the second quarter. Cornerstone Capital Management LLC now owns 5,051,243 shares of the Internet radio service’s stock valued at $62,888,000 after buying an additional 753,567 shares in the last quarter. Alliancebernstein L.P. boosted its position in Pandora Media by 3.1% in the second quarter. Alliancebernstein L.P. now owns 4,621,806 shares of the Internet radio service’s stock valued at $57,541,000 after buying an additional 137,383 shares in the last quarter. Finally, Morgan Stanley boosted its position in Pandora Media by 6.2% in the third quarter. Morgan Stanley now owns 4,561,494 shares of the Internet radio service’s stock valued at $65,366,000 after buying an additional 264,628 shares in the last quarter.
Shares of Pandora Media, Inc. (NYSE:P) traded down 2.66% during midday trading on Wednesday, hitting $11.70. 2,337,913 shares of the company traded hands. The stock’s market capitalization is $2.73 billion. Pandora Media, Inc. has a 52 week low of $7.10 and a 52 week high of $14.98. The stock has a 50 day moving average of $12.76 and a 200-day moving average of $12.92.
Pandora Media (NYSE:P) last released its quarterly earnings data on Tuesday, October 25th. The Internet radio service reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The business had revenue of $351.90 million for the quarter, compared to analysts’ expectations of $1.40 billion. Pandora Media had a negative net margin of 20.50% and a negative return on equity of 30.45%. Pandora Media’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. Equities analysts forecast that Pandora Media, Inc. will post ($0.63) earnings per share for the current fiscal year.
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A number of research analysts have weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $16.00 target price on shares of Pandora Media in a research report on Thursday, September 15th. FBR & Co lowered shares of Pandora Media from an “outperform” rating to a “market perform” rating and set a $12.00 target price for the company. in a research report on Wednesday, October 26th. B. Riley reissued a “buy” rating and set a $18.00 target price on shares of Pandora Media in a research report on Saturday, September 17th. Vetr lowered shares of Pandora Media from a “strong-buy” rating to a “buy” rating and set a $12.52 target price for the company. in a research report on Monday, November 21st. Finally, Zacks Investment Research raised shares of Pandora Media from a “sell” rating to a “hold” rating in a research report on Saturday, December 17th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Pandora Media has a consensus rating of “Hold” and an average target price of $14.52.
In other news, insider Christopher Douglas Martin sold 2,000 shares of the stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $13.02, for a total value of $26,040.00. Following the sale, the insider now directly owns 326,668 shares of the company’s stock, valued at $4,253,217.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 6.64% of the company’s stock.
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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