UBS Asset Management Americas Inc. raised its position in Pandora Media, Inc. (NYSE:P) by 23.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 155,637 shares of the Internet radio service’s stock after buying an additional 29,487 shares during the period. UBS Asset Management Americas Inc.’s holdings in Pandora Media were worth $1,838,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. Waldron LP acquired a new stake in Pandora Media during the first quarter worth $167,000. Franklin Resources Inc. increased its stake in Pandora Media by 9.8% in the fourth quarter. Franklin Resources Inc. now owns 13,315 shares of the Internet radio service’s stock worth $174,000 after buying an additional 1,190 shares during the period. Essex Investment Management Co. LLC acquired a new stake in Pandora Media during the first quarter worth $239,000. Ladenburg Thalmann Financial Services Inc. increased its stake in Pandora Media by 118.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,767 shares of the Internet radio service’s stock worth $284,000 after buying an additional 11,820 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in Pandora Media by 35.2% in the first quarter. Great West Life Assurance Co. Can now owns 27,248 shares of the Internet radio service’s stock worth $321,000 after buying an additional 7,100 shares during the period.
Pandora Media, Inc. (P) opened at 8.51 on Monday. The company’s 50-day moving average is $8.63 and its 200-day moving average is $11.31. The company’s market capitalization is $2.05 billion. Pandora Media, Inc. has a 52-week low of $6.76 and a 52-week high of $14.98.
Pandora Media (NYSE:P) last announced its quarterly earnings results on Monday, May 8th. The Internet radio service reported ($0.37) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.50) by $0.13. Pandora Media had a negative return on equity of 45.15% and a negative net margin of 25.66%. The firm had revenue of $316 million for the quarter, compared to analysts’ expectations of $318.15 million. During the same period in the prior year, the business posted ($0.20) earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. On average, analysts expect that Pandora Media, Inc. will post ($0.51) earnings per share for the current fiscal year.
Several brokerages have commented on P. Goldman Sachs Group, Inc. (The) upped their target price on shares of Pandora Media from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. Canaccord Genuity reaffirmed a “buy” rating and issued a $18.00 target price on shares of Pandora Media in a research note on Thursday, March 30th. Aegis reaffirmed a “buy” rating on shares of Pandora Media in a research note on Wednesday, March 15th. B. Riley reaffirmed a “buy” rating and issued a $15.00 target price on shares of Pandora Media in a research note on Tuesday, May 9th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $15.00 target price on shares of Pandora Media in a research note on Wednesday, April 19th. Two investment analysts have rated the stock with a sell rating, twenty have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $13.03.
In related news, insider Christopher Douglas Martin sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $9.91, for a total value of $29,730.00. Following the transaction, the insider now directly owns 272,569 shares in the company, valued at $2,701,158.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Stephen G. Bene sold 6,161 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $9.38, for a total transaction of $57,790.18. Following the completion of the transaction, the general counsel now owns 272,060 shares in the company, valued at $2,551,922.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,642 shares of company stock worth $411,284. Company insiders own 2.59% of the company’s stock.
About Pandora Media
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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