Gilder Gagnon Howe & Co. LLC held its stake in Pandora Media, Inc. (NYSE:P) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,525 shares of the Internet radio service’s stock at the end of the second quarter. Gilder Gagnon Howe & Co. LLC’s holdings in Pandora Media were worth $121,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Alliancebernstein L.P. raised its position in Pandora Media by 44.0% in the first quarter. Alliancebernstein L.P. now owns 5,660,574 shares of the Internet radio service’s stock worth $66,851,000 after buying an additional 1,729,354 shares during the last quarter. York Capital Management Global Advisors LLC acquired a new position in Pandora Media during the first quarter worth approximately $20,025,000. Clearbridge Investments LLC raised its position in Pandora Media by 37,810.3% in the first quarter. Clearbridge Investments LLC now owns 1,442,865 shares of the Internet radio service’s stock worth $17,040,000 after buying an additional 1,439,059 shares during the last quarter. Locust Wood Capital Advisers LLC acquired a new position in Pandora Media during the second quarter worth approximately $12,574,000. Finally, Russell Investments Group Ltd. raised its position in Pandora Media by 154.4% in the first quarter. Russell Investments Group Ltd. now owns 2,071,238 shares of the Internet radio service’s stock worth $24,461,000 after buying an additional 1,256,984 shares during the last quarter.
Pandora Media, Inc. (NYSE:P) opened at 8.08 on Friday. The company has a 50-day moving average price of $8.93 and a 200-day moving average price of $10.48. The company’s market capitalization is $1.96 billion. Pandora Media, Inc. has a one year low of $6.76 and a one year high of $14.98.
Pandora Media (NYSE:P) last announced its quarterly earnings data on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.08. The firm had revenue of $376.83 million for the quarter, compared to analyst estimates of $367.51 million. Pandora Media had a negative net margin of 39.90% and a negative return on equity of 58.81%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.12) earnings per share. Analysts expect that Pandora Media, Inc. will post ($0.50) earnings per share for the current fiscal year.
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P has been the subject of a number of recent analyst reports. Goldman Sachs Group, Inc. (The) upped their price target on Pandora Media from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, May 9th. Instinet lowered their price target on Pandora Media from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, May 9th. Aegis reaffirmed a “buy” rating and set a $13.00 price target on shares of Pandora Media in a research report on Friday, June 30th. BMO Capital Markets reaffirmed a “hold” rating and set a $13.00 price target on shares of Pandora Media in a research report on Monday, April 17th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $15.00 price target on shares of Pandora Media in a research report on Wednesday, April 19th. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $12.07.
In other Pandora Media news, insider Christopher Douglas Martin sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $9.18, for a total value of $27,540.00. Following the sale, the insider now directly owns 257,921 shares of the company’s stock, valued at $2,367,714.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 completion of the sale, the president now directly owns 548,230 shares in the company, valued at $5,142,397.40. The disclosure for this sale can be found here. Insiders have sold 40,642 shares of company stock worth $381,554 over the last three months. Corporate insiders own 2.59% of the company’s stock.
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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