Pandora Media, Inc. (P) Shares Bought by State of Wisconsin Investment Board
State of Wisconsin Investment Board boosted its holdings in Pandora Media, Inc. (NYSE:P) by 14.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,304 shares of the Internet radio service’s stock after buying an additional 6,500 shares during the quarter. State of Wisconsin Investment Board’s holdings in Pandora Media were worth $449,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Falcon Point Capital LLC bought a new position in Pandora Media in the second quarter valued at about $102,000. Aperio Group LLC bought a new position in Pandora Media in the second quarter valued at about $115,000. Virtu Financial LLC bought a new position in Pandora Media in the second quarter valued at about $121,000. Two Sigma Securities LLC bought a new position in Pandora Media in the first quarter valued at about $136,000. Finally, Waldron LP bought a new position in Pandora Media in the first quarter valued at about $167,000.
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Several equities analysts have commented on P shares. Wells Fargo & Company reiterated a “market perform” rating and issued a $10.00 target price (down from $12.00) on shares of Pandora Media in a research report on Monday, June 12th. Morgan Stanley reiterated an “overweight” rating and issued a $12.00 target price on shares of Pandora Media in a research report on Wednesday, August 23rd. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $7.00 target price (down from $12.00) on shares of Pandora Media in a research report on Sunday, June 18th. Citigroup Inc. reiterated a “buy” rating and issued a $11.00 target price (down from $12.00) on shares of Pandora Media in a research report on Tuesday, August 1st. Finally, MKM Partners reiterated a “neutral” rating and issued a $10.00 target price (down from $12.00) on shares of Pandora Media in a research report on Tuesday, May 23rd. Two investment analysts have rated the stock with a sell rating, twenty have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $12.07.
In other news, EVP David Gerbitz sold 30,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $8.34, for a total value of $250,200.00. Following the transaction, the executive vice president now directly owns 335,607 shares in the company, valued at approximately $2,798,962.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Stephen G. Bene sold 6,538 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total value of $55,049.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,366 shares of company stock worth $564,822. Company insiders own 2.59% of the company’s stock.
Shares of Pandora Media, Inc. (NYSE P) opened at 8.19 on Thursday. The firm has a 50 day moving average price of $8.52 and a 200 day moving average price of $9.71. Pandora Media, Inc. has a 52 week low of $6.76 and a 52 week high of $14.94. The company’s market capitalization is $1.99 billion.
Pandora Media (NYSE:P) last released its quarterly earnings results 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 return on equity of 58.81% and a negative net margin of 39.90%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the business posted ($0.12) EPS. Equities analysts forecast that Pandora Media, Inc. will post ($0.51) EPS for the current year.
Pandora Media 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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