Brighton Jones LLC bought a new position in Pandora Media, Inc. (NYSE:P) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 29,968 shares of the Internet radio service’s stock, valued at approximately $267,000.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position 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. boosted its position 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. First Trust Advisors LP boosted its position in shares of Pandora Media by 51.9% in the second quarter. First Trust Advisors LP now owns 7,183,485 shares of the Internet radio service’s stock worth $64,077,000 after buying an additional 2,454,296 shares in the last quarter. Alliancebernstein L.P. raised 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 valued at $66,851,000 after buying an additional 1,729,354 shares during the last quarter. Finally, Macquarie Group Ltd. raised 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 valued at $46,624,000 after buying an additional 523,131 shares during the last quarter.

Pandora Media, Inc. (NYSE:P) opened at 8.11 on Wednesday. Pandora Media, Inc. has a 12-month low of $6.76 and a 12-month high of $14.98. The stock’s 50 day moving average is $8.82 and its 200-day moving average is $10.14. The company’s market cap is $1.97 billion.

Pandora Media (NYSE:P) last posted its quarterly earnings data on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.08. The firm had revenue of $376.83 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.12) EPS. Analysts predict that Pandora Media, Inc. will post ($0.51) earnings per share for the current fiscal year.

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P has been the topic of several analyst reports. Goldman Sachs Group, Inc. (The) raised their price target on shares of Pandora Media from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. Instinet dropped their price target on shares of Pandora Media from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 9th. Aegis restated a “buy” rating and issued a $13.00 price target on shares of Pandora Media in a research note on Friday, June 30th. Wedbush restated an “outperform” rating and issued a $15.00 price target on shares of Pandora Media in a research note on Tuesday, May 9th. Finally, Nomura dropped their price target on shares of Pandora Media from $14.00 to $12.00 and set a “hold” rating on the stock in a research note on Tuesday, May 9th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.07.

In related news, insider Christopher W. Phillips sold 10,322 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total value of $86,911.24. Following the transaction, the insider now directly owns 423,872 shares of the company’s stock, valued at approximately $3,569,002.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Gerbitz sold 9,959 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total transaction of $83,854.78. Following the completion of the transaction, the executive vice president now directly owns 355,607 shares in the company, valued at $2,994,210.94. The disclosure for this sale can be found here. Insiders have sold a total of 37,366 shares of company stock worth $314,622 over the last ninety 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.

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

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