Sequoia Financial Advisors LLC maintained its stake in Pandora Media Inc. (NYSE:P) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 360,000 shares of the Internet radio service’s stock at the end of the second quarter. Pandora Media makes up 1.3% of Sequoia Financial Advisors LLC’s holdings, making the stock its 19th largest position. Sequoia Financial Advisors LLC’s holdings in Pandora Media were worth $4,482,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in P. Natixis acquired a new stake in Pandora Media during the first quarter worth approximately $159,000. Bayesian Capital Management LP acquired a new stake in Pandora Media during the first quarter worth approximately $172,000. Creative Planning increased its stake in Pandora Media by 72.7% in the second quarter. Creative Planning now owns 14,367 shares of the Internet radio service’s stock worth $179,000 after buying an additional 6,050 shares during the last quarter. BlackRock Inc. increased its stake in Pandora Media by 308.2% in the first quarter. BlackRock Inc. now owns 25,287 shares of the Internet radio service’s stock worth $227,000 after buying an additional 19,093 shares during the last quarter. Finally, Seven Eight Capital LLC acquired a new stake in Pandora Media during the first quarter worth approximately $272,000.
Pandora Media Inc. (NYSE:P) traded down 3.51% on Monday, reaching $12.38. 11,311,923 shares of the company traded hands. The stock’s market capitalization is $2.86 billion. Pandora Media Inc. has a one year low of $7.10 and a one year high of $20.55. The firm has a 50 day moving average of $14.02 and a 200-day moving average of $12.04.
Pandora Media (NYSE:P) last posted its quarterly earnings results on Thursday, July 21st. The Internet radio service reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.04. The business earned $343 million during the quarter, compared to the consensus estimate of $351.48 million. Pandora Media had a negative return on equity of 25.53% and a negative net margin of 23.04%. On average, analysts anticipate that Pandora Media Inc. will post ($0.39) EPS for the current year.
A number of analysts recently commented on the stock. Piper Jaffray Cos. upgraded shares of Pandora Media from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $12.00 to $18.00 in a report on Wednesday, July 13th. Zacks Investment Research lowered shares of Pandora Media from a “hold” rating to a “sell” rating in a report on Tuesday, October 11th. FBR & Co restated an “outperform” rating and set a $16.00 price target on shares of Pandora Media in a report on Tuesday, July 26th. BMO Capital Markets restated a “hold” rating on shares of Pandora Media in a report on Wednesday, September 14th. Finally, B. Riley restated a “buy” rating and set a $18.00 price target on shares of Pandora Media in a report on Monday, September 12th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $15.65.
In other Pandora Media news, insider Christopher W. Phillips sold 12,274 shares of the business’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $12.15, for a total transaction of $149,129.10. Following the completion of the transaction, the insider now owns 288,878 shares of the company’s stock, valued at $3,509,867.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher Douglas Martin sold 2,000 shares of the business’s stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $13.37, for a total value of $26,740.00. Following the transaction, the insider now directly owns 336,569 shares of the company’s stock, valued at approximately $4,499,927.53. The disclosure for this sale can be found here. 6.64% of the stock is owned by corporate insiders.
Pandora Media Company 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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