Baldwin Wealth Partners LLC MA Sells 1,817 Shares of Spotify Technology S.A. (NYSE:SPOT)

Baldwin Wealth Partners LLC MA decreased its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 56.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,398 shares of the company’s stock after selling 1,817 shares during the period. Baldwin Wealth Partners LLC MA’s holdings in Spotify Technology were worth $625,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aigen Investment Management LP boosted its holdings in shares of Spotify Technology by 42.4% during the third quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock worth $3,612,000 after acquiring an additional 2,918 shares during the period. Pathway Capital Management LP boosted its stake in Spotify Technology by 23.8% in the 3rd quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock valued at $21,132,000 after purchasing an additional 11,042 shares during the period. Perpetual Ltd boosted its stake in Spotify Technology by 24.3% in the 3rd quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock valued at $279,965,000 after purchasing an additional 148,431 shares during the period. Covenant Asset Management LLC acquired a new position in Spotify Technology in the 3rd quarter valued at $3,364,000. Finally, Kestra Investment Management LLC bought a new position in Spotify Technology during the 3rd quarter worth $780,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SPOT. Benchmark restated a “buy” rating and issued a $520.00 price target on shares of Spotify Technology in a research note on Thursday, January 16th. Pivotal Research raised their target price on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. KeyCorp lifted their price target on shares of Spotify Technology from $520.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. Wells Fargo & Company increased their price target on Spotify Technology from $470.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, UBS Group lifted their price objective on Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $441.21.

Spotify Technology Stock Down 1.9 %

Shares of SPOT stock opened at $500.84 on Monday. Spotify Technology S.A. has a 52 week low of $213.31 and a 52 week high of $512.01. The firm has a 50 day moving average of $473.74 and a 200-day moving average of $396.89. The company has a market cap of $99.69 billion, a price-to-earnings ratio of 135.90 and a beta of 1.62.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 EPS 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%. The company’s revenue was up 18.8% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS. Analysts anticipate that Spotify Technology S.A. will post 5.91 earnings per share for the current year.

About Spotify Technology

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.