Canada Pension Plan Investment Board Has $17.06 Million Stake in Pandora Media Inc (P)

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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.

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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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Institutional Ownership by Quarter for Pandora Media (NYSE:P)

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