Pandora Media Inc (NYSE:P) was the recipient of unusually large options trading on Monday. Investors bought 12,905 put options on the company. This represents an increase of approximately 1,005% compared to the typical volume of 1,168 put options.
A number of equities analysts have recently commented on the company. Vetr cut Pandora Media from a “buy” rating to a “hold” rating and set a $5.06 target price for the company. in a report on Wednesday, February 14th. Wedbush set a $12.00 target price on Pandora Media and gave the stock a “buy” rating in a report on Friday. SunTrust Banks lowered Pandora Media from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. Zacks Investment Research raised Pandora Media from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Finally, B. Riley reissued a “hold” rating and set a $8.00 price target on shares of Pandora Media in a research note on Thursday, February 1st. Four research 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 company currently has an average rating of “Hold” and an average target price of $10.03.
In other news, CEO Roger Lynch sold 78,707 shares of Pandora Media stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $4.77, for a total value of $375,432.39. Following the completion of the transaction, the chief executive officer now owns 701,607 shares in the company, valued at approximately $3,346,665.39. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.59% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ontario Teachers Pension Plan Board increased its holdings in shares of Pandora Media by 126.9% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 16,000,000 shares of the Internet radio service’s stock valued at $77,120,000 after acquiring an additional 8,947,201 shares during the period. Slate Path Capital LP increased its holdings in shares of Pandora Media by 9.1% in the 4th quarter. Slate Path Capital LP now owns 11,215,000 shares of the Internet radio service’s stock valued at $54,056,000 after acquiring an additional 935,000 shares during the period. First Trust Advisors LP increased its holdings in shares of Pandora Media by 55.8% in the 4th quarter. First Trust Advisors LP now owns 10,526,204 shares of the Internet radio service’s stock valued at $50,736,000 after acquiring an additional 3,768,553 shares during the period. Hunt Lane Capital LP increased its holdings in shares of Pandora Media by 114.1% in the 4th quarter. Hunt Lane Capital LP now owns 6,850,000 shares of the Internet radio service’s stock valued at $33,017,000 after acquiring an additional 3,650,000 shares during the period. Finally, Teachers Advisors LLC increased its holdings in shares of Pandora Media by 22.9% in the 4th quarter. Teachers Advisors LLC now owns 6,670,430 shares of the Internet radio service’s stock valued at $32,151,000 after acquiring an additional 1,242,299 shares during the period.
Shares of Pandora Media (NYSE P) opened at $5.16 on Tuesday. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 1.58. Pandora Media has a 1 year low of $4.09 and a 1 year high of $13.72.
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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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