Artisan Partners Limited Partnership reduced its position in shares of Pandora Media, Inc. (NYSE:P) by 8.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,077,419 shares of the Internet radio service’s stock after selling 194,804 shares during the period. Artisan Partners Limited Partnership’s holdings in Pandora Media were worth $27,090,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. Passport Capital LLC purchased a new stake in shares of Pandora Media during the second quarter valued at approximately $127,000. DIAM Co. Ltd. purchased a new stake in shares of Pandora Media during the third quarter valued at approximately $133,000. Bessemer Group Inc. raised its stake in shares of Pandora Media by 1.0% in the fourth quarter. Bessemer Group Inc. now owns 11,228 shares of the Internet radio service’s stock valued at $146,000 after buying an additional 110 shares during the period. National Asset Management Inc. purchased a new stake in shares of Pandora Media during the third quarter valued at approximately $171,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Pandora Media during the third quarter valued at approximately $176,000.
Pandora Media, Inc. (NYSE:P) traded up 1.673% on Monday, hitting $13.065. 5,302,502 shares of the company were exchanged. Pandora Media, Inc. has a one year low of $7.10 and a one year high of $14.98. The firm’s market cap is $3.06 billion. The stock has a 50 day moving average price of $12.91 and a 200 day moving average price of $12.96.
Pandora Media (NYSE:P) last announced its quarterly earnings results on Thursday, February 9th. The Internet radio service reported ($0.13) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.08. The business had revenue of $392.60 million for the quarter, compared to analyst estimates of $374.24 million. Pandora Media had a negative return on equity of 40.86% and a negative net margin of 24.77%. The company’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.06 EPS. On average, equities research analysts forecast that Pandora Media, Inc. will post ($0.40) EPS for the current fiscal year.
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A number of equities research analysts recently issued reports on the company. Aegis upped their target price on Pandora Media from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, January 13th. B. Riley reaffirmed a “buy” rating and issued a $17.00 target price on shares of Pandora Media in a research note on Wednesday, January 18th. Citigroup Inc. reaffirmed a “buy” rating and issued a $16.00 target price on shares of Pandora Media in a research note on Saturday, January 14th. Goldman Sachs Group, Inc. (The) reaffirmed a “conviction-buy” rating and issued a $18.00 target price on shares of Pandora Media in a research note on Saturday, January 14th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and issued a $14.00 target price (up previously from $13.00) on shares of Pandora Media in a research note on Thursday, October 27th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Pandora Media currently has an average rating of “Hold” and an average price target of $14.59.
In other news, insider Christopher Douglas Martin sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, December 16th. The stock was sold at an average price of $13.02, for a total transaction of $26,040.00. Following the sale, the insider now owns 326,668 shares of the company’s stock, valued at approximately $4,253,217.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 6,000 shares of company stock worth $70,780 in the last three months. Corporate insiders own 6.64% of the company’s stock.
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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