Long-Time Investor Is Dumping Pandora Shares

NEW YORK (TheStreet) -- Just a heads-up FYI from your friendly neighborhood columnist: Crosslink Capital has been unloading Pandora (P) stock for some reason.

Dig this SEC filing dated Aug. 25, 2014:

And the first one filed in 2014 on Feb. 9:

And this one filed at the beginning of 2013 (March 8):

Note the number in the "Amount of Securities Beneficially Owned Following Reported Transaction(s)" column. It's considerably lower, as of Aug. 22, 2014, than it was on March 8, 2013. And it's even lower than it was in 2012.

For a more readable and accessible rundown of Crosslink's Pandora activity, here's a link to Yahoo! Finance's insider transactions page. At that page, you can also see more insider selling of Pandora shares that have made many of the company's executives, officers and directors filthy rich at the same time as the company cries poor to singers and songwriters.

I contacted Pandora's VP of Finance and Investor Relations, Dominic Paschel, and asked him what we should make of the Crosslink selloff. Here's his unedited email response, which was copied to Pandora's VP of Communications Will Valentine, CFO Mike Herring (who sold $5.9 million worth of stock on Feb. 10) and co-founder and former Chief Strategy Officer Tim Westergren (who cashed out more than $1.9 million in P stock on Aug. 7):

If you liked this article you might like

How Facebook Is Trying to Avoid a Public Relations Disaster with Songwriters

Can an iTunes for News Succeed? Chartbeat Founder Thinks So

A Robot Will Be Taking Your Job Soon

Facebook's Video Ambitions Spur Talks With Music Industry

Apple, Comcast, Netflix and 22 Million Americans Sound Off on Net Neutrality