Pandora Media Inc (NYSE:P) traded up 5% during trading on Wednesday . The company traded as high as $5.30 and last traded at $5.25. 13,619,944 shares were traded during trading, an increase of 22% from the average session volume of 11,121,029 shares. The stock had previously closed at $5.00.
A number of equities research analysts recently commented on the company. Raymond James Financial reaffirmed a “hold” rating on shares of Pandora Media in a report on Thursday, December 14th. Credit Suisse Group reaffirmed a “neutral” rating and set a $5.00 target price (down previously from $6.00) on shares of Pandora Media in a report on Thursday, February 22nd. Wedbush set a $12.00 target price on Pandora Media and gave the stock a “buy” rating in a report on Friday, February 16th. Stifel Nicolaus reaffirmed a “hold” rating and set a $7.00 target price on shares of Pandora Media in a report on Friday, February 23rd. Finally, SunTrust Banks set a $7.00 price target on Pandora Media and gave the company a “hold” rating in a report on Tuesday, January 2nd. Three investment analysts have rated the stock with a sell rating, twenty-six have given a hold rating and eleven have issued a buy rating to the company. Pandora Media currently has a consensus rating of “Hold” and an average price target of $9.14.
The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 1.79. The company has a market cap of $1,340.00, a P/E ratio of -2.26 and a beta of -0.38.
In other news, CEO Roger Lynch sold 78,707 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 701,607 shares of the company’s stock, valued at approximately $3,346,665.39. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO David Gerbitz sold 10,135 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $5.07, for a total value of $51,384.45. Following the transaction, the chief operating officer now directly owns 510,276 shares of the company’s stock, valued at $2,587,099.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 124,204 shares of company stock valued at $606,102. Corporate insiders own 2.59% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Oppenheimer & Co. Inc. increased its position in shares of Pandora Media by 254.2% during the third quarter. Oppenheimer & Co. Inc. now owns 54,900 shares of the Internet radio service’s stock worth $422,000 after purchasing an additional 39,400 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Pandora Media by 1.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,481,600 shares of the Internet radio service’s stock valued at $11,409,000 after buying an additional 25,132 shares in the last quarter. EastBay Asset Management LLC purchased a new stake in Pandora Media in the 4th quarter valued at $29,127,000. Gamco Investors INC. ET AL grew its holdings in Pandora Media by 83.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 1,256,191 shares of the Internet radio service’s stock valued at $6,055,000 after buying an additional 571,500 shares in the last quarter. Finally, Price Michael F grew its holdings in Pandora Media by 67.5% in the 4th quarter. Price Michael F now owns 335,000 shares of the Internet radio service’s stock valued at $1,615,000 after buying an additional 135,000 shares in the last quarter.
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About Pandora Media
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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