Crosslink Capital, managed by Seymour Sy Kaufman and Michael Stark, dumped 1.5 million shares of Pandora Media Inc (NYSE:P). According to the filing with the Securities and Exchange Commission, 1.0 million shares of the company have been distributed to investors for no considerations, while 500,000 shares have been sold at $35.87 per share. After the transactions, Crosslink Capital owns 18.77 million shares of the company.
There are other hedge fund managers who have been bullish about Pandora Media Inc (NYSE:P). Crosslink Capital, even after reducing its stake in the company, still remains the largest shareholder. Among other hedge funds from our database, Philippe Laffont’s Coatue Management reported an ownership of 5.71 million shares of the company in its latest 13F, boosting the position by 4.58 million shares over the quarter. Donald Chiboucis’s Columbus Circle Investors has also been bullish during the last quarter of 2013 and upped its stake by 1.72 million shares to some 5.67 million shares.
Crosslink Capital is a fund that is as vertically integrated as investing gets. It invests heavily in services and technology sectors, picking companies at all stages from seed financing to the public markets.
Pandora Media Inc (NYSE:P) is an internet radio operator in the United States. The company had over 125 million registered users as of January, 2012. The company’s the Music Genome Project characterized by an algorithm which predicts listeners’ music preferences and offers new music that fits the subscribers’ taste. The company generates revenue from advertising. The company provides service through Free Service and Pandora One.