Christopher W. Phillips Sells 12,120 Shares of Pandora Media Inc (P) Stock
Pandora Media Inc (NYSE:P) insider Christopher W. Phillips sold 12,120 shares of the business’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $8.90, for a total transaction of $107,868.00. Following the sale, the insider now directly owns 688,887 shares in the company, valued at $6,131,094.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
NYSE:P traded down $0.31 during mid-day trading on Tuesday, hitting $8.27. The company’s stock had a trading volume of 8,964,800 shares, compared to its average volume of 9,559,410. Pandora Media Inc has a 1 year low of $4.09 and a 1 year high of $10.07. The company has a debt-to-equity ratio of 4.85, a quick ratio of 2.51 and a current ratio of 2.51. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of -6.75 and a beta of -0.42.
Pandora Media (NYSE:P) last issued its quarterly earnings data on Monday, November 5th. The Internet radio service reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.05. The business had revenue of $417.63 million during the quarter, compared to the consensus estimate of $400.69 million. Pandora Media had a negative net margin of 23.85% and a negative return on equity of 330.21%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. As a group, equities research analysts predict that Pandora Media Inc will post -0.93 earnings per share for the current fiscal year.
P has been the topic of a number of research analyst reports. ValuEngine lowered shares of Pandora Media from a “hold” rating to a “sell” rating in a report on Saturday, July 28th. Needham & Company LLC boosted their price objective on shares of Pandora Media from $8.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, September 12th. Canaccord Genuity lowered shares of Pandora Media from a “buy” rating to a “hold” rating and dropped their price objective for the company from $11.00 to $9.00 in a report on Tuesday, November 6th. Credit Suisse Group boosted their price objective on shares of Pandora Media from $7.00 to $10.80 and gave the company a “neutral” rating in a report on Tuesday, September 25th. Finally, Zacks Investment Research raised shares of Pandora Media from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Tuesday, October 16th. One research analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $8.23.
Pandora Media Company Profile
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 PandoraAd-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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