Eaton Vance Management continued to hold its stake in Pandora Media, Inc. (NYSE:P) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,000 shares of the Internet radio service’s stock at the end of the 2nd quarter. Eaton Vance Management’s holdings in Pandora Media were worth $330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in P. Waldron LP purchased a new stake in shares of Pandora Media in the first quarter worth $167,000. Great West Life Assurance Co. Can increased its stake in shares of 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 purchasing an additional 7,100 shares in the last quarter. Swiss National Bank increased its stake in shares of 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 purchasing an additional 4,500 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Pandora Media by 23.4% in the first quarter. UBS Asset Management Americas Inc. now owns 155,637 shares of the Internet radio service’s stock worth $1,838,000 after purchasing an additional 29,487 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Pandora Media by 4.6% in the first quarter. Parametric Portfolio Associates LLC now owns 183,961 shares of the Internet radio service’s stock worth $2,173,000 after purchasing an additional 8,143 shares in the last quarter.

Pandora Media, Inc. (NYSE:P) opened at 8.07 on Thursday. Pandora Media, Inc. has a 52-week low of $6.76 and a 52-week high of $14.94. The stock’s market cap is $1.96 billion. The firm’s 50-day moving average is $8.33 and its 200-day moving average is $9.55.

Pandora Media (NYSE:P) last issued its quarterly earnings results on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 net margin of 39.90% and a negative return on equity of 58.81%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.12) earnings per share. Equities research analysts predict that Pandora Media, Inc. will post ($0.51) earnings per share for the current year.

In related news, insider Christopher W. Phillips sold 10,322 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total transaction of $86,911.24. Following the sale, the insider now directly owns 423,872 shares in the company, valued at $3,569,002.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Gerbitz sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $8.34, for a total transaction of $250,200.00. Following the sale, the executive vice president now owns 335,607 shares in the company, valued at $2,798,962.38. The disclosure for this sale can be found here. Insiders have sold 67,366 shares of company stock worth $564,822 over the last quarter. Insiders own 2.59% of the company’s stock.

A number of analysts have recently issued reports on P shares. Macquarie reissued a “hold” rating and issued a $11.00 price objective on shares of Pandora Media in a research note on Tuesday, June 6th. Piper Jaffray Companies set a $18.00 price objective on shares of Pandora Media and gave the stock a “buy” rating in a research note on Saturday, June 10th. FBR & Co raised shares of Pandora Media from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $14.00 to $11.00 in a research note on Monday, June 12th. Citigroup Inc. cut shares of Pandora Media to a “market perform” rating in a research note on Monday, June 12th. Finally, Oppenheimer Holdings, Inc. reissued a “market perform” rating and issued a $18.00 price objective on shares of Pandora Media in a research note on Monday, June 12th. Three analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Pandora Media presently has an average rating of “Hold” and an average target price of $11.86.

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

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