Pandora Media Inc (NYSE:P) saw some unusual options trading on Thursday. Stock investors bought 61,703 call options on the company. This is an increase of 2,018% compared to the typical volume of 2,913 call options.

In related news, General Counsel Stephen G. Bene sold 27,208 shares of the stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $8.16, for a total transaction of $222,017.28. Following the completion of the sale, the general counsel now directly owns 577,033 shares of the company’s stock, valued at $4,708,589.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David Gerbitz sold 36,577 shares of the stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $8.16, for a total value of $298,468.32. Following the sale, the chief operating officer now directly owns 574,617 shares of the company’s stock, valued at $4,688,874.72. 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. 2.59% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. DSAM Partners London Ltd purchased a new position in shares of Pandora Media in the second quarter valued at $3,112,000. Eidelman Virant Capital grew its position in shares of Pandora Media by 6.4% in the second quarter. Eidelman Virant Capital now owns 656,200 shares of the Internet radio service’s stock valued at $5,170,000 after purchasing an additional 39,400 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Pandora Media by 195.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 98,757 shares of the Internet radio service’s stock valued at $778,000 after purchasing an additional 65,347 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Pandora Media by 43.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 87,659 shares of the Internet radio service’s stock valued at $441,000 after purchasing an additional 26,600 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its position in shares of Pandora Media by 290.2% in the first quarter. Dynamic Technology Lab Private Ltd now owns 122,731 shares of the Internet radio service’s stock valued at $618,000 after purchasing an additional 91,278 shares in the last quarter.

A number of brokerages recently commented on P. Zacks Investment Research raised Pandora Media from a “hold” rating to a “buy” rating and set a $9.25 price target for the company in a research report on Saturday, August 4th. ValuEngine raised Pandora Media from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Wedbush set a $10.00 price target on Pandora Media and gave the company a “buy” rating in a research report on Wednesday, August 1st. Canaccord Genuity set a $10.00 price target on Pandora Media and gave the company a “buy” rating in a research report on Wednesday, August 1st. Finally, Susquehanna Bancshares raised their target price on Pandora Media from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 1st. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $7.85.

NYSE:P opened at $9.18 on Friday. Pandora Media has a 1 year low of $4.09 and a 1 year high of $9.37. 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 (NYSE:P) last announced its quarterly earnings results on Tuesday, July 31st. The Internet radio service reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.12. The company had revenue of $384.79 million during the quarter, compared to analysts’ expectations of $373.61 million. Pandora Media had a negative return on equity of 243.61% and a negative net margin of 24.14%. equities research analysts anticipate that Pandora Media will post -0.95 EPS for the current fiscal 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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