Oppenheimer Asset Management Inc. Sells 1,204 Shares of Pandora Media Inc (P)

Oppenheimer Asset Management Inc. trimmed its holdings in shares of Pandora Media Inc (NYSE:P) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,850 shares of the Internet radio service’s stock after selling 1,204 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Pandora Media were worth $492,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of P. Renaissance Technologies LLC bought a new stake in shares of Pandora Media during the third quarter worth approximately $26,211,000. Southpoint Capital Advisors LP raised its stake in shares of Pandora Media by 30.5% during the third quarter. Southpoint Capital Advisors LP now owns 9,135,468 shares of the Internet radio service’s stock worth $86,878,000 after buying an additional 2,135,468 shares during the last quarter. Northern Trust Corp raised its stake in shares of Pandora Media by 153.2% during the second quarter. Northern Trust Corp now owns 3,042,886 shares of the Internet radio service’s stock worth $23,977,000 after buying an additional 1,840,990 shares during the last quarter. Vanguard Group Inc raised its stake in shares of Pandora Media by 7.7% during the third quarter. Vanguard Group Inc now owns 23,315,363 shares of the Internet radio service’s stock worth $221,729,000 after buying an additional 1,674,105 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Pandora Media by 7.7% during the third quarter. Vanguard Group Inc. now owns 23,315,363 shares of the Internet radio service’s stock worth $221,729,000 after buying an additional 1,674,105 shares during the last quarter. 97.57% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently weighed in on P. Zacks Investment Research raised shares of Pandora Media from a “hold” rating to a “strong-buy” rating and set a $9.75 price target for the company in a research note on Friday, January 25th. Canaccord Genuity downgraded shares of Pandora Media from a “buy” rating to a “hold” rating and dropped their price target for the stock from $11.00 to $9.00 in a research note on Tuesday, November 6th. Finally, Goldman Sachs Group downgraded shares of Pandora Media from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $12.00 to $10.00 in a research note on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $8.30.

In other news, insider S Aimee Lapic sold 9,312 shares of the company’s stock in a transaction that occurred on Wednesday, December 12th. The shares were sold at an average price of $9.01, for a total value of $83,901.12. Following the completion of the transaction, the insider now owns 392,876 shares in the company, valued at $3,539,812.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Karen Sammis Walker sold 3,026 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $8.90, for a total transaction of $26,931.40. Following the completion of the transaction, the chief accounting officer now owns 143,580 shares of the company’s stock, valued at approximately $1,277,862. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 215,023 shares of company stock valued at $1,910,856. Corporate insiders own 0.43% of the company’s stock.

Shares of NYSE P opened at $8.38 on Wednesday. The company has a market cap of $2.27 billion, a P/E ratio of -6.76 and a beta of 0.04. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 4.85. Pandora Media Inc has a 52-week low of $4.17 and a 52-week high of $10.07.

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About Pandora Media

Pandora Media, Inc provides music discovery platform services in the United States and internationally. The company offers streaming radio and on-demand music services, which enable the listeners to create personalized stations and playlists, as well as search and play songs and albums on-demand. It also provides Pandora—Ad-Supported Radio Service, an ad-supported service that allows listeners to access a catalog of music, comedy, livestreams, and podcasts through its personalized playlist generating system for free across its various delivery platforms, as well as Premium Access, a service to listeners to access on-demand listening experience; and Pandora Plus, a subscription radio service, which also includes replays, additional skipping of songs, offline listening, higher quality audio on supported devices, and longer timeout-free listening.

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Institutional Ownership by Quarter for Pandora Media (NYSE:P)

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