NumerixS Investment Technologies Inc purchased a new position in shares of Pandora Media Inc (NYSE:P) in the 2nd quarter, HoldingsChannel reports. The fund purchased 120,600 shares of the Internet radio service’s stock, valued at approximately $960,000.

Other hedge funds also recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new stake in Pandora Media in the second quarter worth about $118,000. Delpha Capital Management LLC acquired a new stake in Pandora Media in the first quarter worth about $160,000. Xact Kapitalforvaltning AB lifted its holdings in Pandora Media by 41.0% in the first quarter. Xact Kapitalforvaltning AB now owns 40,252 shares of the Internet radio service’s stock worth $202,000 after purchasing an additional 11,700 shares during the period. Brighton Jones LLC lifted its holdings in Pandora Media by 46.9% in the first quarter. Brighton Jones LLC now owns 40,357 shares of the Internet radio service’s stock worth $203,000 after purchasing an additional 12,892 shares during the period. Finally, Balter Liquid Alternatives LLC lifted its holdings in Pandora Media by 262.5% in the first quarter. Balter Liquid Alternatives LLC now owns 41,689 shares of the Internet radio service’s stock worth $210,000 after purchasing an additional 30,188 shares during the period.

A number of brokerages have weighed in on P. SunTrust Banks raised shares of Pandora Media from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a report on Friday, May 4th. B. Riley raised shares of Pandora Media from a “neutral” rating to a “buy” rating and cut their price target for the company from $8.00 to $6.00 in a report on Friday, May 4th. Canaccord Genuity set a $8.00 price target on shares of Pandora Media and gave the company a “buy” rating in a report on Friday, May 4th. Credit Suisse Group upped their price target on shares of Pandora Media from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Friday, May 4th. Finally, Wedbush set a $8.00 price target on shares of Pandora Media and gave the company a “buy” rating in a report on Sunday, May 6th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Pandora Media currently has a consensus rating of “Hold” and an average price target of $7.85.

In other news, CRO John Trimble sold 100,577 shares of the company’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $8.02, for a total value of $806,627.54. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Stephen G. Bene sold 27,208 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $8.16, for a total value of $222,017.28. Following the completion of the transaction, the general counsel now owns 577,033 shares in the company, valued at approximately $4,708,589.28. The disclosure for this sale can be found here. Insiders have sold 180,890 shares of company stock valued at $1,461,155 over the last ninety days. Insiders own 2.59% of the company’s stock.

P stock opened at $9.18 on Friday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 2.76. Pandora Media Inc has a one year low of $4.09 and a one year high of $9.37. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of -7.40 and a beta of -0.63.

Pandora Media (NYSE:P) last posted its quarterly earnings data on Tuesday, July 31st. The Internet radio service reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.12. Pandora Media had a negative net margin of 24.14% and a negative return on equity of 243.61%. The company had revenue of $384.79 million during the quarter, compared to analyst estimates of $373.61 million. sell-side analysts predict that Pandora Media Inc will post -0.95 EPS for the current year.

Pandora Media Company Profile

Pandora Media, Inc provides music discovery platform services in the United States and internationally. The company offers streaming radio and on-demand music services, which enable the listeners to create personalized stations and playlists, as well as search and play songs and albums on-demand. It also provides Pandora?Ad-Supported Radio Service, an ad-supported service that allows listeners to access a catalog of music, comedy, livestreams, and podcasts through its personalized playlist generating system for free across its various delivery platforms, as well as Premium Access, a service to listeners to access on-demand listening experience; and Pandora Plus, a subscription radio service, which also includes replays, additional skipping of songs, offline listening, higher quality audio on supported devices, and longer timeout-free listening.

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

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