Gilder Gagnon Howe & Co. LLC Continues to Hold Stake in Pandora Media, Inc. (P)
Gilder Gagnon Howe & Co. LLC held its position in Pandora Media, Inc. (NYSE:P) during the second quarter, Holdings Channel reports. The fund 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 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Aperio Group LLC bought a new position in Pandora Media during the second quarter worth $115,000. Virtu Financial LLC acquired a new stake in Pandora Media during the second quarter worth about $121,000. Two Sigma Securities LLC acquired a new stake in Pandora Media during the first quarter worth about $136,000. Waldron LP acquired a new stake in Pandora Media during the first quarter worth about $167,000. Finally, Gruss & Co. Inc. raised its stake in Pandora Media by 6.7% in the first quarter. Gruss & Co. Inc. now owns 16,000 shares of the Internet radio service’s stock worth $189,000 after buying an additional 1,000 shares during the period.
Shares of Pandora Media, Inc. (NYSE:P) opened at 8.08 on Friday. Pandora Media, Inc. has a 52 week low of $6.76 and a 52 week high of $14.98. The company has a 50 day moving average of $8.93 and a 200 day moving average of $10.48. The firm’s market cap is $1.96 billion.
Pandora Media (NYSE:P) last released its quarterly earnings results on Monday, July 31st. The Internet radio service reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.08. The business had revenue of $376.83 million during 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 company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. On average, equities research analysts anticipate that Pandora Media, Inc. will post ($0.50) EPS for the current fiscal year.
A number of equities research analysts have issued reports on P shares. Goldman Sachs Group, Inc. (The) increased their target price on shares of Pandora Media from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, May 9th. Instinet reduced their target price on shares of Pandora Media from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, May 9th. Aegis reiterated a “buy” rating and set a $13.00 target price on shares of Pandora Media in a report on Friday, June 30th. BMO Capital Markets reiterated a “hold” rating and set a $13.00 target price on shares of Pandora Media in a report on Monday, April 17th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $15.00 target price on shares of Pandora Media in a report on Wednesday, April 19th. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Pandora Media presently has an average rating of “Hold” and an average target price of $12.07.
In related news, insider Christopher Douglas Martin sold 3,000 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $9.18, for a total value of $27,540.00. Following the completion of the transaction, the insider now owns 257,921 shares in the company, valued at approximately $2,367,714.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Stephen G. Bene sold 6,161 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $9.38, for a total transaction of $57,790.18. Following the completion of the transaction, the general counsel now owns 272,060 shares of the company’s stock, valued at approximately $2,551,922.80. The disclosure for this sale can be found here. Insiders have sold 40,642 shares of company stock valued at $381,554 in the last 90 days. 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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