Zacks Investment Research downgraded shares of Pandora Media Inc. (NYSE:P) from a hold rating to a sell rating in a research report report published on Tuesday morning.

According to Zacks, “Pandora Media, Inc. operates as a provider of Internet radio in the United States. It provides services to traditional computers, smartphones, such as Android phones, Blackberry phones and the iPhone. When a listener enters a single song, artist, composer or genre to start a station, its mathematical algorithms combine the genes cataloged with individual and collective feedback to suggest songs and build personalized playlists. The Company also offers advertising solutions addressing advertising markets: online display, rich media and video, mobile and broadcast radio. Pandora Media, Inc., formerly known as Savage Beast Technologies Incorporated, is based in Oakland, California. “

Several other analysts have also recently issued reports on P. Albert Fried & Company reiterated a buy rating on shares of Pandora Media in a research note on Friday, July 8th. Vetr cut shares of Pandora Media from a strong-buy rating to a buy rating and set a $12.97 target price on the stock. in a research note on Monday, June 13th. Axiom Securities reiterated a buy rating and issued a $16.00 target price on shares of Pandora Media in a research note on Wednesday, June 15th. Canaccord Genuity reiterated a buy rating and issued a $14.00 target price on shares of Pandora Media in a research note on Tuesday, June 14th. Finally, B. Riley reiterated a buy rating and issued a $15.00 target price on shares of Pandora Media in a research note on Sunday, July 3rd. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $15.91.

Pandora Media (NYSE:P) traded down 2.587% during mid-day trading on Tuesday, hitting $13.365. 1,994,603 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $14.10 and its 200-day moving average price is $12.00. The stock’s market cap is $3.09 billion. Pandora Media has a 12 month low of $7.10 and a 12 month high of $20.55.

Pandora Media (NYSE:P) last announced its quarterly earnings results on Thursday, July 21st. The Internet radio service reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.04. The company had revenue of $343 million for the quarter, compared to analysts’ expectations of $351.48 million. Pandora Media had a negative net margin of 23.04% and a negative return on equity of 25.53%. Equities analysts expect that Pandora Media will post ($0.39) EPS for the current fiscal year.

In related news, insider Christopher Douglas Martin sold 2,000 shares of Pandora Media stock in a transaction on Friday, September 16th. The shares were sold at an average price of $13.37, for a total value of $26,740.00. Following the sale, the insider now owns 336,569 shares of the company’s stock, valued at approximately $4,499,927.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher W. Phillips sold 12,274 shares of Pandora Media stock in a transaction on Monday, July 25th. The shares were sold at an average price of $12.15, for a total transaction of $149,129.10. Following the completion of the sale, the insider now directly owns 288,878 shares in the company, valued at approximately $3,509,867.70. The disclosure for this sale can be found here. 6.64% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. purchased a new position in shares of Pandora Media during the second quarter worth $169,000. Public Employees Retirement System of Ohio raised its position in shares of Pandora Media by 6.6% in the second quarter. Public Employees Retirement System of Ohio now owns 45,961 shares of the Internet radio service’s stock worth $572,000 after buying an additional 2,860 shares during the last quarter. Freshford Capital Management LLC purchased a new position in shares of Pandora Media during the second quarter worth $6,163,000. Amalgamated Bank raised its position in shares of Pandora Media by 35.7% in the second quarter. Amalgamated Bank now owns 33,936 shares of the Internet radio service’s stock worth $452,000 after buying an additional 8,933 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Pandora Media by 4.5% in the second quarter. Legal & General Group Plc now owns 15,023 shares of the Internet radio service’s stock worth $187,000 after buying an additional 650 shares during the last quarter.

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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