UBS upgraded shares of Pandora Media (NYSE:P) from a market perform rating to a strong-buy rating in a research report sent to investors on Thursday morning, The Fly reports.
P has been the topic of several other reports. Zacks Investment Research raised shares of Pandora Media from a sell rating to a hold rating in a report on Wednesday, February 28th. Vetr cut shares of Pandora Media from a strong-buy rating to a buy rating and set a $5.06 target price on the stock. in a report on Tuesday, January 30th. Wedbush set a $12.00 price target on shares of Pandora Media and gave the stock a buy rating in a research report on Friday, February 16th. B. Riley reduced their price target on shares of Pandora Media from $8.00 to $6.00 and set a neutral rating on the stock in a research report on Thursday, February 22nd. Finally, Bank of America reduced their price target on shares of Pandora Media from $7.00 to $5.60 and set an underperform rating on the stock in a research report on Thursday, February 22nd. Three research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Pandora Media currently has a consensus rating of Hold and an average price target of $9.10.
Pandora Media stock opened at $5.11 on Thursday. Pandora Media has a fifty-two week low of $4.09 and a fifty-two week high of $12.13. The company has a market cap of $1,302.46, a P/E ratio of -2.21 and a beta of -0.38. The company has a current ratio of 4.03, a quick ratio of 4.03 and a debt-to-equity ratio of 1.79.
In other Pandora Media news, insider Kristen Robinson sold 11,403 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $5.07, for a total value of $57,813.21. Following the sale, the insider now owns 487,526 shares in the company, valued at $2,471,756.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Stephen G. Bene sold 11,260 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $5.07, for a total transaction of $57,088.20. The disclosure for this sale can be found here. Insiders sold 45,497 shares of company stock worth $230,670 in the last 90 days. Company insiders own 2.59% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Swiss National Bank lifted its holdings in shares of Pandora Media by 2.5% during the third quarter. Swiss National Bank now owns 401,900 shares of the Internet radio service’s stock worth $3,095,000 after purchasing an additional 9,900 shares during the period. UBS Asset Management Americas Inc. lifted its holdings in shares of Pandora Media by 5.7% during the fourth quarter. UBS Asset Management Americas Inc. now owns 212,083 shares of the Internet radio service’s stock worth $1,022,000 after purchasing an additional 11,497 shares during the period. Aperio Group LLC lifted its holdings in shares of Pandora Media by 90.6% during the third quarter. Aperio Group LLC now owns 24,550 shares of the Internet radio service’s stock worth $189,000 after purchasing an additional 11,673 shares during the period. Two Sigma Securities LLC lifted its holdings 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 worth $112,000 after purchasing an additional 12,040 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of Pandora Media by 3.7% during the fourth quarter. Alliancebernstein L.P. now owns 376,008 shares of the Internet radio service’s stock worth $1,812,000 after purchasing an additional 13,261 shares during the period.
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About Pandora Media
Pandora Media, Inc provides music discovery platform services in the United States and internationally. The company offers streaming radio and on-demand music services, which enable the listeners to create personalized stations and playlists, as well as search and play songs and albums on-demand. It also provides Pandora?Ad-Supported Radio Service, an ad-supported service that allows listeners to access a catalog of music, comedy, livestreams, and podcasts through its personalized playlist generating system for free across its various delivery platforms, as well as Premium Access, a service to listeners to access on-demand listening experience; and Pandora Plus, a subscription radio service, which also includes replays, additional skipping of songs, offline listening, higher quality audio on supported devices, and longer timeout-free listening.
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