Pandora Media Inc (NYSE:P) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $9.61 and last traded at $9.29, with a volume of 361589 shares trading hands. The stock had previously closed at $9.21.

P has been the subject of several research analyst reports. ValuEngine raised Pandora Media from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 2nd. Morgan Stanley lifted their price objective on Pandora Media from $6.00 to $8.00 and gave the company a “weight” rating in a research note on Tuesday, July 3rd. Nomura initiated coverage on Pandora Media in a research note on Tuesday, July 10th. They set a “neutral” rating and a $8.00 price objective for the company. Zacks Investment Research lowered Pandora Media from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. Finally, Wedbush set a $10.00 price objective on Pandora Media and gave the company a “buy” rating in a research note on Thursday, July 26th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Pandora Media currently has a consensus rating of “Buy” and a consensus target price of $7.93.

The company has a debt-to-equity ratio of 2.76, a current ratio of 2.73 and a quick ratio of 2.73. The company has a market capitalization of $2.36 billion, a PE ratio of -7.95 and a beta of -0.49.

Pandora Media (NYSE:P) last issued its quarterly earnings results on Tuesday, July 31st. The Internet radio service reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.12. Pandora Media had a negative return on equity of 243.61% and a negative net margin of 24.14%. The firm had revenue of $384.79 million during the quarter, compared to analyst estimates of $373.61 million. equities analysts predict that Pandora Media Inc will post -0.95 earnings per share for the current fiscal year.

In other news, COO David Gerbitz sold 36,577 shares of Pandora Media stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $8.16, for a total value of $298,468.32. Following the transaction, the chief operating officer now owns 574,617 shares in the company, valued at $4,688,874.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CRO John Trimble sold 100,577 shares of Pandora Media stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $8.02, for a total value of $806,627.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 180,890 shares of company stock valued at $1,461,155. Corporate insiders own 0.43% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in P. Brighton Jones LLC increased its holdings in Pandora Media by 15.8% during the 2nd quarter. Brighton Jones LLC now owns 46,740 shares of the Internet radio service’s stock valued at $368,000 after purchasing an additional 6,383 shares during the period. Cubist Systematic Strategies LLC increased its holdings in Pandora Media by 16.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 56,070 shares of the Internet radio service’s stock valued at $282,000 after purchasing an additional 7,966 shares during the period. New York State Common Retirement Fund increased its holdings in Pandora Media by 2.2% during the 1st quarter. New York State Common Retirement Fund now owns 501,700 shares of the Internet radio service’s stock valued at $2,524,000 after purchasing an additional 10,800 shares during the period. Xact Kapitalforvaltning AB increased its holdings in Pandora Media by 41.0% during the 1st quarter. Xact Kapitalforvaltning AB now owns 40,252 shares of the Internet radio service’s stock valued at $202,000 after purchasing an additional 11,700 shares during the period. Finally, Voya Investment Management LLC increased its holdings in Pandora Media by 14.2% during the 2nd quarter. Voya Investment Management LLC now owns 99,925 shares of the Internet radio service’s stock valued at $787,000 after purchasing an additional 12,463 shares during the period.

About Pandora Media (NYSE:P)

Pandora Media, Inc provides music discovery platform services in the United States and internationally. The company offers streaming radio and on-demand music services, which enable the listeners to create personalized stations and playlists, as well as search and play songs and albums on-demand. It also provides Pandora?Ad-Supported Radio Service, an ad-supported service that allows listeners to access a catalog of music, comedy, livestreams, and podcasts through its personalized playlist generating system for free across its various delivery platforms, as well as Premium Access, a service to listeners to access on-demand listening experience; and Pandora Plus, a subscription radio service, which also includes replays, additional skipping of songs, offline listening, higher quality audio on supported devices, and longer timeout-free listening.

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