Broadview Advisors LLC Has $7.30 Million Holdings in Pandora Media, Inc. (P)
Broadview Advisors LLC boosted its stake in Pandora Media, Inc. (NYSE:P) by 1.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 818,200 shares of the Internet radio service’s stock after buying an additional 8,050 shares during the period. Broadview Advisors LLC owned 0.34% of Pandora Media worth $7,298,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of P. Waldron LP acquired a new stake in shares of Pandora Media in the first quarter valued at approximately $167,000. Great West Life Assurance Co. Can boosted its position in shares of Pandora Media by 35.2% during 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. Swiss National Bank boosted its position in shares of Pandora Media by 1.2% during 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 during the period. UBS Asset Management Americas Inc. boosted its position in shares of Pandora Media by 23.4% during 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 buying an additional 29,487 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Pandora Media by 4.6% during the first quarter. Parametric Portfolio Associates LLC now owns 183,961 shares of the Internet radio service’s stock worth $2,173,000 after buying an additional 8,143 shares during the period.
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In other Pandora Media news, EVP David Gerbitz sold 30,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were 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 of the company’s stock, valued at $2,798,962.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher W. Phillips sold 10,322 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was 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 approximately $3,569,002.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,366 shares of company stock worth $564,822. 2.59% of the stock is currently owned by insiders.
Shares of Pandora Media, Inc. (NYSE:P) traded up 0.13% on Wednesday, reaching $7.97. The company’s stock had a trading volume of 862,693 shares. The company’s 50 day moving average is $8.23 and its 200-day moving average is $9.27. The firm’s market cap is $1.93 billion. Pandora Media, Inc. has a 1-year low of $6.76 and a 1-year high of $14.82.
Pandora Media (NYSE:P) last posted its quarterly earnings data on Monday, July 31st. The Internet radio service reported ($0.31) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.08. The firm 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 58.81% and a negative net margin of 39.90%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.12) EPS. Equities research analysts expect that Pandora Media, Inc. will post ($0.51) EPS for the current year.
Several research analysts have recently issued reports on the company. Wells Fargo & Company reissued a “market perform” rating and issued a $10.00 price target (down previously from $12.00) on shares of Pandora Media in a research note on Monday, June 12th. Morgan Stanley restated an “overweight” rating and set a $12.00 price objective on shares of Pandora Media in a research note on Wednesday, August 23rd. ValuEngine downgraded shares of Pandora Media from a “sell” rating to a “strong sell” rating in a report on Friday, September 22nd. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $7.00 price objective (down previously from $12.00) on shares of Pandora Media in a report on Sunday, June 18th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $11.00 target price (down previously from $12.00) on shares of Pandora Media in a research report on Tuesday, August 1st. Three analysts have rated the stock with a sell rating, twenty have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $11.86.
Pandora Media Profile
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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