Canada Pension Plan Investment Board increased its holdings in shares of Pandora Media Inc (NYSE:P) by 383.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,108,400 shares of the Internet radio service’s stock after acquiring an additional 1,671,900 shares during the period. Canada Pension Plan Investment Board owned approximately 0.78% of Pandora Media worth $17,058,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. IndexIQ Advisors LLC acquired a new stake in Pandora Media in the 4th quarter worth about $26,431,000. Renaissance Technologies LLC acquired a new stake in Pandora Media in the 3rd quarter worth about $26,211,000. Southpoint Capital Advisors LP boosted its holdings in Pandora Media by 30.5% in the 3rd quarter. Southpoint Capital Advisors LP now owns 9,135,468 shares of the Internet radio service’s stock worth $86,878,000 after buying an additional 2,135,468 shares during the last quarter. Water Island Capital LLC boosted its holdings in Pandora Media by 259.5% in the 4th quarter. Water Island Capital LLC now owns 2,621,808 shares of the Internet radio service’s stock worth $21,210,000 after buying an additional 1,892,608 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Pandora Media by 153.2% in the 2nd quarter. Northern Trust Corp now owns 3,042,886 shares of the Internet radio service’s stock worth $23,977,000 after buying an additional 1,840,990 shares during the last quarter. Hedge funds and other institutional investors own 97.57% of the company’s stock.
P has been the topic of a number of research reports. Zacks Investment Research raised shares of Pandora Media from a “hold” rating to a “strong-buy” rating and set a $9.75 target price on the stock in a research note on Friday, January 25th. Canaccord Genuity lowered shares of Pandora Media from a “buy” rating to a “hold” rating and decreased their target price for the stock from $11.00 to $9.00 in a research note on Tuesday, November 6th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. Pandora Media has an average rating of “Hold” and a consensus target price of $8.45.
P stock opened at $8.38 on Friday. The company has a market cap of $2.27 billion, a PE ratio of -6.76 and a beta of 0.04. The company has a debt-to-equity ratio of 4.85, a quick ratio of 2.51 and a current ratio of 2.51. Pandora Media Inc has a one year low of $4.17 and a one year high of $10.07.
In other news, insider S Aimee Lapic sold 9,312 shares of Pandora Media stock in a transaction that occurred on Wednesday, December 12th. The shares were sold at an average price of $9.01, for a total transaction of $83,901.12. Following the sale, the insider now owns 392,876 shares of the company’s stock, valued at approximately $3,539,812.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.43% of the stock is currently owned by insiders.
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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