Stoneridge Investment Partners LLC reduced its position in shares of Pandora Media, Inc. (NYSE:P) by 17.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,821 shares of the Internet radio service’s stock after selling 15,404 shares during the period. Stoneridge Investment Partners LLC’s holdings in Pandora Media were worth $658,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Pandora Media by 4.2% in the first quarter. Vanguard Group Inc. now owns 17,229,855 shares of the Internet radio service’s stock worth $203,485,000 after buying an additional 695,819 shares in the last quarter. Waddell & Reed Financial Inc. increased its stake in shares of Pandora Media by 9.1% in the first quarter. Waddell & Reed Financial Inc. now owns 13,919,032 shares of the Internet radio service’s stock worth $164,384,000 after buying an additional 1,156,593 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of 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 in the last quarter. First Trust Advisors LP increased its stake in shares of Pandora Media by 10.1% in the first quarter. First Trust Advisors LP now owns 4,729,189 shares of the Internet radio service’s stock worth $55,852,000 after buying an additional 435,756 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of Pandora Media by 15.3% in the first quarter. Macquarie Group Ltd. now owns 3,947,837 shares of the Internet radio service’s stock worth $46,624,000 after buying an additional 523,131 shares in the last quarter.

Pandora Media, Inc. (NYSE:P) opened at 7.99 on Friday. The company has a 50-day moving average of $8.92 and a 200-day moving average of $10.52. The company’s market cap is $1.94 billion. Pandora Media, Inc. has a 52 week low of $6.76 and a 52 week high of $14.98.

Pandora Media (NYSE:P) last issued 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. Pandora Media had a negative return on equity of 58.81% and a negative net margin of 39.90%. The company had revenue of $376.83 million for the quarter, compared to the consensus estimate of $367.51 million. During the same quarter last year, the company earned ($0.12) earnings per share. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities analysts expect that Pandora Media, Inc. will post ($0.50) EPS for the current year.

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P has been the topic of a number of recent analyst reports. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $10.00 target price (down from $12.00) on shares of Pandora Media in a research note on Monday, June 12th. B. Riley reaffirmed a “buy” rating and issued a $15.00 target price on shares of Pandora Media in a research note on Tuesday, May 9th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $7.00 target price (down from $12.00) on shares of Pandora Media in a research note on Sunday, June 18th. William Blair reaffirmed an “outperform” rating on shares of Pandora Media in a research note on Tuesday, May 9th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $11.00 target price (down from $12.00) on shares of Pandora Media in a research note on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Pandora Media currently has an average rating of “Hold” and a consensus target price of $12.07.

In other Pandora Media news, President Michael S. Herring sold 11,730 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $9.38, for a total value of $110,027.40. Following the completion of the sale, the president now owns 548,230 shares of the company’s stock, valued at $5,142,397.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Christopher Douglas Martin sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $9.18, for a total value of $27,540.00. Following the completion of the sale, the insider now directly owns 257,921 shares of the company’s stock, valued at approximately $2,367,714.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,642 shares of company stock worth $381,554. 2.59% of the stock is owned by corporate insiders.

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

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