Ontario Teachers Pension Plan Board Lowers stake in Pandora Media Inc (P)

Pandora Media Inc (P) : Ontario Teachers Pension Plan Board reduced its stake in Pandora Media Inc by 6.25% during the most recent quarter end. The investment management company now holds a total of 7,500,000 shares of Pandora Media Inc which is valued at $99,000,000 after selling 500,000 shares in Pandora Media Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Pandora Media Inc makes up approximately 1.07% of Ontario Teachers Pension Plan Board’s portfolio.

Other Hedge Funds, Including , Raymond James Associates sold out all of its stake in P during the most recent quarter. The investment firm sold 12,989 shares of P which is valued $171,455.Ubs Asset Management Americas Inc boosted its stake in P in the latest quarter, The investment management firm added 29,098 additional shares and now holds a total of 182,998 shares of Pandora Media Inc which is valued at $2,435,703. Sandy Spring Bank sold out all of its stake in P during the most recent quarter. The investment firm sold 200 shares of P which is valued $2,710.Nordea Investment Management Ab boosted its stake in P in the latest quarter, The investment management firm added 158,800 additional shares and now holds a total of 768,040 shares of Pandora Media Inc which is valued at $9,485,294. Pandora Media Inc makes up approx 0.03% of Nordea Investment Management Ab’s portfolio.

Pandora Media Inc opened for trading at $14.15 and hit $14.51 on the upside on Monday, eventually ending the session at $14.44, with a gain of 2.27% or 0.32 points. The heightened volatility saw the trading volume jump to 53,25,571 shares. Company has a market cap of $3,336 M.

On the company’s financial health, Pandora Media Inc reported $-0.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $-0.30. The company had revenue of $297.31 million for the quarter, compared to analysts expectations of $285.23 million. The company’s revenue was up 28.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.12 EPS.

Many Wall Street Analysts have commented on Pandora Media Inc. Company shares were Reiterated by MKM Partners on Aug 4, 2016 to “Neutral”, Firm has raised the Price Target to $ 13 from a previous price target of $11.50 .Pandora Media Inc was Downgraded by Pacific Crest to ” Underweight” on Jul 22, 2016. Pandora Media Inc was Upgraded by Piper Jaffray to ” Overweight” on Jul 13, 2016.

Pandora Media Inc. is a United States-based provider of Internet radio in the United States. The Company offers a personalized experience for each of its listeners wherever and whenever they want to listen to radio on a range of smartphones tablets computers and car audio systems as well as a range of other Internet-connected devices. It allows local and national advertisers to deliver targeted messages to its listeners using a combination of audio display and video advertisements. Its free service is advertising-based and allows listeners access to its music and comedy catalogs and personalized playlist generating system for free across all of its delivery platforms. Pandora One is a paid subscription service without any advertising. Pandora One also offers listeners daily skips audio on supported devices and timeout-free listening. The Company’s technologies include Music Genome Project and Comedy Genome Project.

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