Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. decreased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 38.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,374 shares of the company’s stock after selling 850 shares during the period. Lecap Asset Management Ltd.’s holdings in Spotify Technology were worth $615,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Prestige Wealth Management Group LLC acquired a new position in Spotify Technology during the third quarter worth $26,000. Hobbs Group Advisors LLC purchased a new stake in shares of Spotify Technology during the 3rd quarter worth $33,000. Larson Financial Group LLC grew its stake in shares of Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after purchasing an additional 33 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Spotify Technology in the 3rd quarter valued at about $40,000. Finally, Rakuten Securities Inc. lifted its stake in shares of Spotify Technology by 40.5% in the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after purchasing an additional 32 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. KeyCorp upped their target price on shares of Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $658.00 price objective (up from $473.00) on shares of Spotify Technology in a research note on Wednesday. Barclays lifted their price objective on Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday. UBS Group upped their target price on Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Finally, Wells Fargo & Company lifted their price target on Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, Spotify Technology currently has an average rating of “Moderate Buy” and an average target price of $514.79.

Spotify Technology Stock Performance

SPOT opened at $623.54 on Friday. Spotify Technology S.A. has a 1 year low of $228.07 and a 1 year high of $632.45. The company’s 50 day simple moving average is $491.03 and its 200 day simple moving average is $412.38. The stock has a market capitalization of $124.12 billion, a PE ratio of 104.80 and a beta of 1.63.

Spotify Technology (NYSE:SPOT) last announced its quarterly 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 company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 EPS. As a group, sell-side analysts expect that Spotify Technology S.A. will post 9.69 earnings per share for the current fiscal year.

Spotify Technology 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.