California Public Employees Retirement System lowered its stake in shares of Pandora Media, Inc. (NYSE:P) by 4.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 458,300 shares of the Internet radio service’s stock after selling 19,800 shares during the period. California Public Employees Retirement System owned about 0.19% of Pandora Media worth $5,413,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in P. Asset Management One Co. Ltd. raised its stake in shares of Pandora Media by 1.0% in the first quarter. Asset Management One Co. Ltd. now owns 31,074 shares of the Internet radio service’s stock worth $365,000 after buying an additional 316 shares during the last quarter. Franklin Resources Inc. raised 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 in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Pandora Media by 17.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 25,039 shares of the Internet radio service’s stock worth $296,000 after buying an additional 3,700 shares in the last quarter. Swiss National Bank raised its stake in Pandora Media by 1.2% in the first quarter. Swiss National Bank now owns 365,300 shares of the Internet radio service’s stock worth $4,314,000 after buying an additional 4,500 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in Pandora Media by 22.2% in the first quarter. Pacer Advisors Inc. now owns 29,017 shares of the Internet radio service’s stock worth $343,000 after buying an additional 5,265 shares in the last quarter.

Pandora Media, Inc. (NYSE:P) traded down 0.12% during midday trading on Thursday, reaching $8.37. 5,670,238 shares of the company traded hands. The stock’s market capitalization is $2.03 billion. The firm has a 50 day moving average of $8.70 and a 200-day moving average of $10.70. Pandora Media, Inc. has a 12 month low of $6.76 and a 12 month high of $14.98. Pandora Media also saw some unusual options trading on Monday. Investors purchased 13,874 call options on the company. This is an increase of approximately 217% compared to the typical daily volume of 4,381 call options.

Pandora Media (NYSE:P) last announced its earnings results on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.08. The company had revenue of $376.83 million for the quarter, compared to analyst estimates of $367.51 million. Pandora Media had a negative return on equity of 49.92% and a negative net margin of 39.90%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.12) earnings per share. Analysts forecast that Pandora Media, Inc. will post ($0.50) EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Pandora Media, Inc. (NYSE:P) Shares Sold by California Public Employees Retirement System” was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright law. The correct version of this report can be read at https://www.thecerbatgem.com/2017/08/03/pandora-media-inc-nysep-stake-lowered-by-california-public-employees-retirement-system-updated-updated-updated.html.

A number of equities analysts recently commented on the stock. Dougherty & Co reiterated a “neutral” rating on shares of Pandora Media in a research note on Monday, June 12th. Bank of America Corporation reiterated a “buy” rating and set a $12.00 target price on shares of Pandora Media in a research note on Tuesday, June 13th. Wedbush downgraded shares of Pandora Media from a “neutral” rating to a “market perform” rating and set a $15.00 price objective for the company. in a research note on Monday, June 12th. Royal Bank Of Canada restated a “sector perform” rating and issued a $15.00 price objective (down previously from $16.00) on shares of Pandora Media in a research note on Tuesday, May 9th. Finally, Canaccord Genuity decreased their price objective on shares of Pandora Media from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, June 12th. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $12.07.

In other Pandora Media news, insider Christopher Douglas Martin sold 11,648 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $9.46, for a total value of $110,190.08. Following the completion of the transaction, the insider now owns 269,569 shares in the company, valued at $2,550,122.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael S. Herring sold 11,730 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $9.38, for a total transaction of $110,027.40. Following the completion of the transaction, the president now owns 548,230 shares of the company’s stock, valued at approximately $5,142,397.40. The disclosure for this sale can be found here. Insiders have sold 43,642 shares of company stock worth $411,284 in the last ninety days. Corporate 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.

Institutional Ownership by Quarter for Pandora Media (NYSE:P)

Receive News & Stock Ratings for Pandora Media Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pandora Media Inc. and related stocks with our FREE daily email newsletter.