Pandora Media Inc (NYSE:P) General Counsel Sells $86,588.10 in Stock

Pandora Media Inc (NYSE:P) General Counsel Stephen G. Bene sold 9,729 shares of Pandora Media stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $8.90, for a total transaction of $86,588.10. Following the sale, the general counsel now directly owns 567,304 shares of the company’s stock, valued at approximately $5,049,005.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

P opened at $8.57 on Thursday. The stock has a market capitalization of $2.31 billion, a PE ratio of -6.91 and a beta of -0.47. The company has a debt-to-equity ratio of 4.85, a current ratio of 2.51 and a quick ratio of 2.51. Pandora Media Inc has a twelve month low of $4.09 and a twelve month high of $10.07.

Pandora Media (NYSE:P) last posted its earnings results on Monday, November 5th. The Internet radio service reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.05. Pandora Media had a negative net margin of 23.85% and a negative return on equity of 330.21%. The firm had revenue of $417.63 million during the quarter, compared to the consensus estimate of $400.69 million. During the same quarter last year, the company earned ($0.06) earnings per share. The company’s revenue was up 10.3% on a year-over-year basis. On average, equities research analysts anticipate that Pandora Media Inc will post -0.92 EPS for the current fiscal year.



Several research firms have recently weighed in on P. Zacks Investment Research upgraded shares of Pandora Media from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Tuesday, October 16th. William Blair cut shares of Pandora Media from an “outperform” rating to a “market perform” rating in a research report on Monday, September 24th. Canaccord Genuity cut shares of Pandora Media from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $11.00 to $9.00 in a research report on Tuesday, November 6th. BMO Capital Markets lowered shares of Pandora Media from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $13.00 to $10.00 in a research note on Monday, October 1st. Finally, Raymond James lowered shares of Pandora Media from a “strong-buy” rating to a “market perform” rating and set a $11.00 target price on the stock. in a research note on Tuesday, September 25th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Pandora Media currently has a consensus rating of “Hold” and a consensus price target of $8.34.

Several hedge funds have recently added to or reduced their stakes in P. Guggenheim Capital LLC lifted its position in Pandora Media by 26.5% during the first quarter. Guggenheim Capital LLC now owns 91,968 shares of the Internet radio service’s stock valued at $463,000 after purchasing an additional 19,250 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Pandora Media by 10.9% in the 1st quarter. Legal & General Group Plc now owns 127,512 shares of the Internet radio service’s stock worth $641,000 after acquiring an additional 12,516 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Pandora Media in the 2nd quarter worth approximately $270,000. DSAM Partners London Ltd bought a new stake in shares of Pandora Media in the 2nd quarter worth approximately $3,112,000. Finally, Eidelman Virant Capital lifted its holdings in shares of Pandora Media by 6.4% in the 2nd quarter. Eidelman Virant Capital now owns 656,200 shares of the Internet radio service’s stock worth $5,170,000 after acquiring an additional 39,400 shares during the last quarter. Institutional investors own 98.01% of the company’s stock.

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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 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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