Telemark Asset Management buys $21,780,000 stake in Pandora Media Inc (P)

Pandora Media Inc (P) : Telemark Asset Management scooped up 650,000 additional shares in Pandora Media Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 1,650,000 shares of Pandora Media Inc which is valued at $21,780,000.Pandora Media Inc makes up approximately 4.64% of Telemark Asset Management’s portfolio.

Other Hedge Funds, Including , Ws Management Lllp boosted its stake in P in the latest quarter, The investment management firm added 7,940,000 additional shares and now holds a total of 8,040,000 shares of Pandora Media Inc which is valued at $106,128,000. Pandora Media Inc makes up approx 4.46% of Ws Management Lllp’s portfolio.Quantbot Technologies Lp reduced its stake in P by selling 455 shares or 6.05% in the most recent quarter. The Hedge Fund company now holds 7,071 shares of P which is valued at $96,802. Pandora Media Inc makes up approx 0.01% of Quantbot Technologies Lp’s portfolio.Ibm Retirement Fund boosted its stake in P in the latest quarter, The investment management firm added 1,062 additional shares and now holds a total of 22,227 shares of Pandora Media Inc which is valued at $272,948. Pandora Media Inc makes up approx 0.01% of Ibm Retirement Fund’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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