Geode Capital Management LLC Has $20.18 Million Stake in Pandora Media, Inc. (NYSE:P)

Geode Capital Management LLC raised its position in shares of Pandora Media, Inc. (NYSE:P) by 12.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,708,450 shares of the Internet radio service’s stock after buying an additional 188,151 shares during the period. Geode Capital Management LLC owned approximately 0.73% of Pandora Media worth $20,176,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in P. Waldron LP acquired a new position in Pandora Media during the first quarter worth approximately $167,000. Franklin Resources Inc. boosted its position in Pandora Media by 9.8% in the fourth quarter. Franklin Resources Inc. now owns 13,315 shares of the Internet radio service’s stock worth $174,000 after buying an additional 1,190 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Pandora Media by 3.8% in the first quarter. Teacher Retirement System of Texas now owns 17,702 shares of the Internet radio service’s stock worth $209,000 after buying an additional 640 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in Pandora Media during the first quarter worth approximately $239,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Pandora Media by 17.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 25,039 shares of the Internet radio service’s stock worth $296,000 after buying an additional 3,700 shares in the last quarter.

Pandora Media, Inc. (NYSE P) traded up 0.58% during mid-day trading on Tuesday, hitting $8.65. 4,544,954 shares of the stock traded hands. The company’s market cap is $2.10 billion. Pandora Media, Inc. has a 12 month low of $6.76 and a 12 month high of $14.98. The stock’s 50 day moving average is $8.70 and its 200-day moving average is $10.70.

Pandora Media (NYSE:P) last announced its quarterly earnings data on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.08. The business had revenue of $376.83 million for the quarter, compared to the consensus estimate of $367.51 million. Pandora Media had a negative net margin of 39.90% and a negative return on equity of 58.81%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. On average, equities research analysts anticipate that Pandora Media, Inc. will post ($0.51) EPS for the current year.

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Several research analysts recently issued reports on the company. Dougherty & Co reissued a “neutral” rating on shares of Pandora Media in a research note on Monday, June 12th. Bank of America Corporation reissued a “buy” rating and issued a $12.00 price objective on shares of Pandora Media in a research note on Tuesday, June 13th. Wedbush cut Pandora Media from a “neutral” rating to a “market perform” rating and set a $15.00 price objective on the stock. in a research note on Monday, June 12th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $15.00 price objective (down previously from $16.00) on shares of Pandora Media in a research note on Tuesday, May 9th. Finally, Canaccord Genuity lowered their target price on Pandora Media from $18.00 to $15.00 and set a “buy” rating for the company in a report on Monday, June 12th. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $12.07.

In related news, President Michael S. Herring sold 11,730 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $9.38, for a total transaction of $110,027.40. Following the completion of the sale, the president now directly owns 548,230 shares of the company’s stock, valued at approximately $5,142,397.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christopher Douglas Martin sold 3,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $9.18, for a total transaction of $27,540.00. Following the sale, the insider now directly owns 257,921 shares of the company’s stock, valued at $2,367,714.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,642 shares of company stock worth $411,284. 2.59% of the stock is currently owned by 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.

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

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