Crosslink Capital Inc. Maintains Position in Pandora Media, Inc. (P)
Crosslink Capital Inc. continued to hold its position in shares of Pandora Media, Inc. (NYSE:P) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,386,645 shares of the Internet radio service’s stock at the close of the 2nd quarter. Pandora Media comprises approximately 10.4% of Crosslink Capital Inc.’s holdings, making the stock its 2nd biggest position. Crosslink Capital Inc. owned about 3.04% of Pandora Media worth $65,888,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in P. Falcon Point Capital LLC bought a new stake in Pandora Media in the 2nd quarter valued at approximately $102,000. Prudential Financial Inc. bought a new stake in Pandora Media in the 2nd quarter valued at approximately $109,000. Symmetry Peak Management LLC bought a new stake in Pandora Media in the 2nd quarter valued at approximately $112,000. Aperio Group LLC bought a new stake in Pandora Media in the 2nd quarter valued at approximately $115,000. Finally, Virtu Financial LLC bought a new stake in Pandora Media in the 2nd quarter valued at approximately $121,000.
In other Pandora Media news, insider Christopher W. Phillips sold 10,322 shares of Pandora Media stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total transaction of $86,911.24. Following the completion of the sale, the insider now owns 423,872 shares of the company’s stock, valued at $3,569,002.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David Gerbitz sold 9,959 shares of Pandora Media stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total value of $83,854.78. Following the sale, the executive vice president now directly owns 355,607 shares of the company’s stock, valued at approximately $2,994,210.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,366 shares of company stock valued at $564,822. Corporate insiders own 2.59% of the company’s stock.
Shares of Pandora Media, Inc. (NYSE P) traded up 0.88% during mid-day trading on Thursday, hitting $8.03. The company had a trading volume of 1,167,243 shares. The company’s market capitalization is $1.95 billion. Pandora Media, Inc. has a one year low of $6.76 and a one year high of $14.10. The company’s 50-day moving average is $8.15 and its 200 day moving average is $9.13.
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 Thomson Reuters’ consensus estimate of ($0.39) by $0.08. Pandora Media had a negative return on equity of 58.81% and a negative net margin of 39.90%. The firm had revenue of $376.83 million during the quarter, compared to analyst estimates of $367.51 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. The company’s revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts forecast that Pandora Media, Inc. will post ($0.50) EPS for the current fiscal year.
Several equities research analysts have commented on the company. Wedbush restated a “buy” rating on shares of Pandora Media in a research note on Tuesday, August 1st. Credit Suisse Group restated a “neutral” rating and issued a $8.95 target price (up previously from $8.55) on shares of Pandora Media in a research note on Tuesday, August 1st. BidaskClub upgraded Pandora Media from a “strong sell” rating to a “sell” rating in a research note on Friday, June 23rd. MKM Partners restated a “neutral” rating and issued a $10.00 target price on shares of Pandora Media in a research note on Wednesday, August 2nd. Finally, FBR & Co restated a “buy” rating and issued a $11.00 target price on shares of Pandora Media in a research note on Monday, September 25th. Four equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $11.76.
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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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