Aperio Group LLC Buys New Stake in Pandora Media, Inc. (P)

Aperio Group LLC purchased a new position in Pandora Media, Inc. (NYSE:P) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,877 shares of the Internet radio service’s stock, valued at approximately $115,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Asset Management One Co. Ltd. boosted its holdings in shares of Pandora Media by 1.0% during the first quarter. Asset Management One Co. Ltd. now owns 31,074 shares of the Internet radio service’s stock valued at $365,000 after acquiring an additional 316 shares during the period. Concourse Capital Management LLC boosted its holdings in shares of Pandora Media by 0.4% during the first quarter. Concourse Capital Management LLC now owns 95,378 shares of the Internet radio service’s stock valued at $1,126,000 after acquiring an additional 378 shares during the period. Teacher Retirement System of Texas lifted its holdings 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 purchasing an additional 640 shares during the period. Gruss & Co. Inc. lifted its holdings in Pandora Media by 6.7% in the first quarter. Gruss & Co. Inc. now owns 16,000 shares of the Internet radio service’s stock worth $189,000 after purchasing an additional 1,000 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings 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 purchasing an additional 3,700 shares during the period.

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Pandora Media, Inc. (P) traded down 0.428% on Friday, hitting $8.135. The stock had a trading volume of 1,821,231 shares. Pandora Media, Inc. has a 52-week low of $6.76 and a 52-week high of $14.95. The company’s 50 day moving average price is $8.43 and its 200 day moving average price is $9.69. The firm’s market cap is $1.97 billion.

Pandora Media (NYSE:P) last announced its quarterly earnings results on Monday, July 31st. The Internet radio service reported ($0.31) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.08. Pandora Media had a negative net margin of 39.90% and a negative return on equity of 58.81%. The firm had revenue of $376.83 million during the quarter, compared to the consensus estimate of $367.51 million. During the same quarter last year, the firm earned ($0.12) EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. Analysts expect that Pandora Media, Inc. will post ($0.51) EPS for the current year.

In other news, CRO John Trimble sold 10,547 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total transaction of $88,805.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David Gerbitz sold 9,959 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total transaction of $83,854.78. Following the transaction, the executive vice president now directly owns 355,607 shares in the company, valued at $2,994,210.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,366 shares of company stock valued at $564,822. 2.59% of the stock is owned by insiders.

Several research firms recently weighed in on P. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Pandora Media in a report on Thursday. KeyCorp restated a “hold” rating on shares of Pandora Media in a report on Thursday, September 7th. Morgan Stanley reiterated an “overweight” rating and issued a $12.00 target price on shares of Pandora Media in a report on Wednesday, August 23rd. BidaskClub upgraded Pandora Media from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Finally, FBR & Co reiterated a “buy” rating and issued a $11.00 target price on shares of Pandora Media in a report on Tuesday, August 15th. Two analysts have rated the stock with a sell rating, twenty have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $12.07.

Pandora Media 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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