Pandora Media Inc (P) Short Interest Update

Pandora Media Inc (NYSE:P) was the recipient of a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 57,447,341 shares, a drop of 7.4% from the January 12th total of 62,028,904 shares. Currently, 23.8% of the company’s stock are sold short. Based on an average trading volume of 10,081,155 shares, the days-to-cover ratio is presently 5.7 days.

In other news, CEO Roger Lynch sold 78,707 shares of Pandora Media stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $4.77, for a total transaction of $375,432.39. Following the completion of the sale, the chief executive officer now directly owns 701,607 shares in the company, valued at approximately $3,346,665.39. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.59% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. TIAA CREF Investment Management LLC increased its position in Pandora Media by 16.0% in the 4th quarter. TIAA CREF Investment Management LLC now owns 2,567,397 shares of the Internet radio service’s stock worth $12,375,000 after buying an additional 354,753 shares during the period. Teachers Advisors LLC increased its position in shares of Pandora Media by 22.9% during the fourth quarter. Teachers Advisors LLC now owns 6,670,430 shares of the Internet radio service’s stock valued at $32,151,000 after purchasing an additional 1,242,299 shares during the period. California State Teachers Retirement System increased its position in shares of Pandora Media by 5.3% during the fourth quarter. California State Teachers Retirement System now owns 383,063 shares of the Internet radio service’s stock valued at $1,846,000 after purchasing an additional 19,270 shares during the period. Southpoint Capital Advisors LP bought a new stake in shares of Pandora Media during the fourth quarter valued at approximately $4,820,000. Finally, Two Sigma Securities LLC increased its position in shares of Pandora Media by 106.7% during the fourth quarter. Two Sigma Securities LLC now owns 23,323 shares of the Internet radio service’s stock valued at $112,000 after purchasing an additional 12,040 shares during the period.

Pandora Media (NYSE P) opened at $4.90 on Thursday. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $1,220.00, a P/E ratio of -1.97 and a beta of -0.48. Pandora Media has a 1 year low of $4.09 and a 1 year high of $13.72.

Several equities research analysts have recently issued reports on P shares. Piper Jaffray Companies reiterated a “buy” rating and set a $9.00 price target on shares of Pandora Media in a report on Friday, November 3rd. Stifel Nicolaus set a $12.00 price target on Pandora Media and gave the company a “buy” rating in a report on Tuesday, October 31st. FBR & Co reiterated a “buy” rating and set a $11.00 price target on shares of Pandora Media in a report on Tuesday, October 31st. Canaccord Genuity reiterated a “buy” rating and set a $14.00 price target on shares of Pandora Media in a report on Monday, October 30th. Finally, Wedbush set a $15.00 target price on Pandora Media and gave the stock a “buy” rating in a report on Monday, October 30th. Four analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $10.13.

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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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