Schwab Charles Investment Management Inc. decreased its holdings in shares of Pandora Media Inc (NYSE:P) by 5.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 674,141 shares of the Internet radio service’s stock after selling 40,976 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Pandora Media were worth $5,191,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Trexquant Investment LP purchased a new position in Pandora Media in the third quarter valued at about $302,000. Legal & General Group Plc grew its stake in Pandora Media by 42.8% in the third quarter. Legal & General Group Plc now owns 108,930 shares of the Internet radio service’s stock valued at $839,000 after purchasing an additional 32,671 shares in the last quarter. BBT Capital Management LLC purchased a new position in Pandora Media in the third quarter valued at about $1,535,000. Oppenheimer & Co. Inc. grew its stake in Pandora Media by 254.2% in the third quarter. Oppenheimer & Co. Inc. now owns 54,900 shares of the Internet radio service’s stock valued at $422,000 after purchasing an additional 39,400 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Pandora Media by 1,179.5% in the third quarter. SG Americas Securities LLC now owns 4,505,951 shares of the Internet radio service’s stock valued at $34,696,000 after purchasing an additional 4,153,778 shares in the last quarter.

Pandora Media Inc (NYSE:P) opened at $4.56 on Wednesday. Pandora Media Inc has a 12-month low of $4.44 and a 12-month high of $13.72. The company has a debt-to-equity ratio of 1.58, a quick ratio of 4.18 and a current ratio of 4.18. The firm has a market capitalization of $1,130.00, a PE ratio of -1.83 and a beta of -0.25.

Pandora Media (NYSE:P) last posted its quarterly earnings data on Thursday, November 2nd. The Internet radio service reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. Pandora Media had a negative return on equity of 74.78% and a negative net margin of 39.49%. The business had revenue of $378.60 million during the quarter, compared to analysts’ expectations of $380.54 million. During the same quarter in the previous year, the firm earned ($0.07) EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. analysts forecast that Pandora Media Inc will post -1.09 earnings per share for the current fiscal year.

A number of research analysts have commented on P shares. ValuEngine downgraded Pandora Media from a “sell” rating to a “strong sell” rating in a research note on Friday, September 22nd. Zacks Investment Research upgraded Pandora Media from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. FBR & Co restated a “buy” rating and issued a $11.00 target price on shares of Pandora Media in a research note on Tuesday, October 31st. TD Securities restated a “hold” rating on shares of Pandora Media in a research note on Thursday, November 23rd. Finally, Stifel Nicolaus set a $12.00 target price on Pandora Media and gave the company a “buy” rating in a research note on Tuesday, October 31st. Four investment analysts have rated the stock with a sell rating, twenty-seven have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $10.64.

In other Pandora Media news, insider Christopher W. Phillips sold 9,988 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $5.11, for a total value of $51,038.68. Following the completion of the transaction, the insider now owns 413,884 shares of the company’s stock, valued at approximately $2,114,947.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Stephen G. Bene sold 7,967 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $5.11, for a total value of $40,711.37. Following the completion of the transaction, the general counsel now directly owns 330,865 shares of the company’s stock, valued at approximately $1,690,720.15. The disclosure for this sale can be found here. Insiders have sold a total of 116,389 shares of company stock valued at $567,987 in the last three months. 2.59% of the stock is owned by insiders.

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About Pandora Media

Pandora Media, Inc (Pandora) is a music discovery platform, offering a personalized experience for each of its listeners wherever and whenever they want to listen to music, whether through earbuds, car speakers or live on stage. The Company delivers targeted messages to its listeners using a combination of audio, display and video advertisements.

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

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