Profund Advisors LLC boosted its stake in shares of Pandora Media Inc. (NYSE:P) by 0.5% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 77,426 shares of the Internet radio service’s stock after buying an additional 413 shares during the period. Profund Advisors LLC’s holdings in Pandora Media were worth $1,110,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of P. Tiger Management L.L.C. bought a new stake in Pandora Media during the second quarter valued at $18,191,000. Point72 Asset Management L.P. bought a new stake in Pandora Media during the second quarter valued at $17,226,000. Sumitomo Mitsui Asset Management Company LTD bought a new stake in Pandora Media during the third quarter valued at $18,979,000. First Trust Advisors LP raised its stake in Pandora Media by 29.5% in the third quarter. First Trust Advisors LP now owns 4,500,683 shares of the Internet radio service’s stock valued at $64,495,000 after buying an additional 1,025,730 shares in the last quarter. Finally, Peregrine Capital Management LLC bought a new stake in Pandora Media during the third quarter valued at $14,574,000.
Pandora Media Inc. (NYSE:P) traded up 1.46% on Thursday, reaching $13.19. 4,481,019 shares of the company’s stock traded hands. The company’s 50 day moving average is $12.97 and its 200-day moving average is $12.93. The stock’s market cap is $3.08 billion. Pandora Media Inc. has a 52-week low of $7.10 and a 52-week high of $14.98.
Pandora Media (NYSE:P) last posted its earnings results on Tuesday, October 25th. The Internet radio service reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by $0.01. The business had revenue of $351.90 million for the quarter, compared to the consensus estimate of $1.40 billion. Pandora Media had a negative return on equity of 30.45% and a negative net margin of 20.50%. The company’s revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 earnings per share. Equities analysts expect that Pandora Media Inc. will post ($0.61) EPS for the current year.
Several analysts have recently commented on P shares. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Pandora Media in a research report on Wednesday, September 21st. B. Riley reaffirmed a “buy” rating and issued a $18.00 target price on shares of Pandora Media in a research report on Thursday, September 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 target price on shares of Pandora Media in a research report on Monday, September 26th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $19.00 target price on shares of Pandora Media in a research report on Tuesday, September 27th. Finally, Vetr raised Pandora Media from a “buy” rating to a “strong-buy” rating and set a $16.06 target price for the company in a research report on Thursday, September 29th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. Pandora Media has a consensus rating of “Hold” and an average price target of $14.54.
In related news, insider Christopher Douglas Martin sold 2,000 shares of the business’s stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $13.02, for a total transaction of $26,040.00. Following the transaction, the insider now directly owns 326,668 shares in the company, valued at $4,253,217.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 8,000 shares of company stock valued at $93,400. 6.64% of the stock is currently owned by insiders.
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.
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