Harbour Capital Advisors LLC trimmed its stake in Spotify Technology S.A. (NYSE:SPOT – Free Report) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,030 shares of the company’s stock after selling 25 shares during the period. Harbour Capital Advisors LLC’s holdings in Spotify Technology were worth $947,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Private Advisor Group LLC increased its stake in Spotify Technology by 118.3% in the second quarter. Private Advisor Group LLC now owns 3,023 shares of the company’s stock valued at $949,000 after purchasing an additional 1,638 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Spotify Technology during the second quarter worth about $39,000. Daiwa Securities Group Inc. increased its position in Spotify Technology by 80.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,290 shares of the company’s stock valued at $405,000 after acquiring an additional 574 shares during the period. DekaBank Deutsche Girozentrale raised its stake in Spotify Technology by 9.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 61,077 shares of the company’s stock valued at $19,233,000 after acquiring an additional 5,394 shares during the last quarter. Finally, Zions Bancorporation N.A. purchased a new position in Spotify Technology in the 2nd quarter valued at $347,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
SPOT has been the subject of several analyst reports. TD Cowen increased their price target on shares of Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. Morgan Stanley raised their price target on Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Piper Sandler upped their price objective on Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Rosenblatt Securities raised their target price on Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Bank of America increased their price target on shares of Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $433.36.
Spotify Technology Price Performance
NYSE:SPOT traded down $3.08 during trading hours on Monday, reaching $456.45. 762,975 shares of the company were exchanged, compared to its average volume of 1,592,331. The firm has a market cap of $90.86 billion, a price-to-earnings ratio of 124.04 and a beta of 1.62. The stock has a 50 day simple moving average of $460.14 and a 200 day simple moving average of $384.72. Spotify Technology S.A. has a 52-week low of $191.88 and a 52-week high of $506.47.
Spotify Technology (NYSE:SPOT – Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. Spotify Technology’s revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. On average, analysts predict that Spotify Technology S.A. will post 6.02 EPS for the current fiscal year.
Spotify Technology Company Profile
Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.
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