Zevenbergen Capital Investments LLC cut its holdings in shares of Pandora Media, Inc. (NYSE:P) by 93.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 180,700 shares of the Internet radio service’s stock after selling 2,417,165 shares during the period. Zevenbergen Capital Investments LLC owned about 0.07% of Pandora Media worth $1,612,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Quinn Opportunity Partners LLC raised its holdings in Pandora Media by 17.9% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 559,262 shares of the Internet radio service’s stock worth $4,989,000 after purchasing an additional 85,000 shares during the last quarter. SG Americas Securities LLC bought a new position in Pandora Media during the 2nd quarter worth approximately $3,141,000. Principal Financial Group Inc. bought a new position in Pandora Media during the 1st quarter worth approximately $446,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Pandora Media during the 2nd quarter worth approximately $10,047,000. Finally, Brighton Jones LLC bought a new position in Pandora Media during the 2nd quarter worth approximately $267,000.

Several research firms have issued reports on P. Wedbush restated a “buy” rating on shares of Pandora Media in a report on Wednesday, July 26th. Macquarie restated a “hold” rating and set a $11.00 price target on shares of Pandora Media in a report on Tuesday, June 6th. BMO Capital Markets restated a “hold” rating and set a $12.00 price target on shares of Pandora Media in a report on Sunday, July 16th. Aegis restated a “buy” rating and set a $13.00 price target on shares of Pandora Media in a report on Friday, June 30th. Finally, Royal Bank Of Canada lowered their price target on shares of Pandora Media from $15.00 to $10.00 and set a “sector perform” rating for the company in a report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $12.07.

In other news, insider Christopher W. Phillips sold 10,322 shares of Pandora Media stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David Gerbitz sold 30,000 shares of Pandora Media stock in a transaction dated Friday, September 1st. The shares were 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 $2,798,962.38. The disclosure for this sale can be found here. Insiders sold 67,366 shares of company stock worth $564,822 over the last three months. Insiders own 2.59% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Zevenbergen Capital Investments LLC Sells 2,417,165 Shares of Pandora Media, Inc. (P)” was originally published by Daily Political and is the property of of Daily Political. If you are viewing this news story on another site, it was illegally copied and republished in violation of US & international copyright and trademark laws. The original version of this news story can be viewed at https://www.dailypolitical.com/2017/09/22/zevenbergen-capital-investments-llc-sells-2417165-shares-of-pandora-media-inc-p.html.

Shares of Pandora Media, Inc. (P) traded down 0.184% during midday trading on Friday, reaching $8.155. The company had a trading volume of 866,993 shares. Pandora Media, Inc. has a 12-month low of $6.76 and a 12-month high of $14.95. The firm’s market capitalization is $1.98 billion. The company has a 50 day moving average of $8.34 and a 200 day moving average of $9.55.

Pandora Media (NYSE:P) last announced its earnings results on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.08. The business had revenue of $376.83 million for the quarter, compared to analysts’ expectations of $367.51 million. Pandora Media had a negative return on equity of 58.81% and a negative net margin of 39.90%. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the firm posted ($0.12) earnings per share. Analysts anticipate that Pandora Media, Inc. will post ($0.51) EPS for the current year.

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)

Receive News & Ratings for Pandora Media Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pandora Media Inc. and related companies with MarketBeat.com's FREE daily email newsletter.