NEW YORK (TheStreet) -- Pandora Media (P) shares are down 1.4% to $21.20 in early market trading on Monday, the first trading session since the company's stock gained 18% in trading on Friday.
The stock rose double digits in the previous session after an SEC filing revealed that the company's CEO Brian McAndrews purchased 25,000 shares of the stock, the first major insider purchase of company stock since shares went public in 2011.
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The timing of McAndrews' $464,500 purchase ahead of its discussion with the Copyright Royalty Board next week is intriguing to analysts at Stifel who maintained their "buy" rating and $29 price target on the company.
"The discussion is expected to focus on case theory rather than Pandora's strategy in the proceedings, but it should provide investors with a digestible walkthrough of Pandora's lengthy proposal filed in the second week of October," said analysts at the firm.
TheStreet Ratings team rates PANDORA MEDIA INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate PANDORA MEDIA INC (P) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity and generally disappointing historical performance in the stock itself."