Public Sector Pension investment Board continued to hold its stake in Pandora Media, Inc. (NYSE:P) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,500,000 shares of the Internet radio service’s stock at the end of the second quarter. Public Sector Pension investment Board owned 0.62% of Pandora Media worth $13,380,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of P. Marshall Wace North America L.P. grew its stake in Pandora Media by 789.9% in the second quarter. Marshall Wace North America L.P. now owns 3,084,210 shares of the Internet radio service’s stock valued at $27,758,000 after purchasing an additional 2,737,635 shares in the last quarter. First Trust Advisors LP grew its stake in 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 valued at $64,077,000 after purchasing an additional 2,454,296 shares in the last quarter. Alliancebernstein L.P. grew its stake in 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 purchasing an additional 1,729,354 shares in the last quarter. York Capital Management Global Advisors LLC purchased a new position in Pandora Media in the first quarter valued at about $20,025,000. Finally, Clearbridge Investments LLC grew its stake in Pandora Media by 37,810.3% in the first quarter. Clearbridge Investments LLC now owns 1,442,865 shares of the Internet radio service’s stock valued at $17,040,000 after purchasing an additional 1,439,059 shares in the last quarter.

In related news, EVP David Gerbitz sold 9,959 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total value of $83,854.78. Following the sale, the executive vice president now owns 355,607 shares of the company’s stock, valued at $2,994,210.94. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Stephen G. Bene sold 6,538 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total transaction of $55,049.96. The disclosure for this sale can be found here. In the last three months, insiders sold 67,366 shares of company stock worth $564,822. 2.59% of the stock is currently owned by insiders.

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Pandora Media, Inc. (NYSE:P) traded down 0.790% on Thursday, hitting $8.165. The stock had a trading volume of 535,343 shares. Pandora Media, Inc. has a 12-month low of $6.76 and a 12-month high of $14.95. The company has a 50 day moving average of $8.34 and a 200 day moving average of $9.55. The company’s market capitalization is $1.98 billion.

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, topping the consensus estimate of ($0.39) by $0.08. Pandora Media had a negative net margin of 39.90% and a negative return on equity of 58.81%. The company had revenue of $376.83 million for the quarter, compared to analysts’ expectations of $367.51 million. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. Pandora Media’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities analysts expect that Pandora Media, Inc. will post ($0.51) earnings per share for the current year.

P has been the subject of several recent analyst reports. Wedbush reiterated a “buy” rating on shares of Pandora Media in a research note on Wednesday, July 26th. Macquarie reiterated a “hold” rating and set a $11.00 price target on shares of Pandora Media in a research note on Tuesday, June 6th. BMO Capital Markets reiterated a “hold” rating and set a $12.00 price target on shares of Pandora Media in a research note on Sunday, July 16th. Aegis reiterated a “buy” rating and set a $13.00 price target on shares of Pandora Media in a research note on Friday, June 30th. Finally, Royal Bank Of Canada decreased their price target on Pandora Media from $15.00 to $10.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, twenty have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Pandora Media presently has an average rating of “Hold” and a consensus target price of $12.07.

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.

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

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