Spotify Technology S.A. (NYSE:SPOT) Stock Holdings Trimmed by Emerald Advisers LLC

Emerald Advisers LLC lowered its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 78.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 485 shares of the company’s stock after selling 1,809 shares during the period. Emerald Advisers LLC’s holdings in Spotify Technology were worth $152,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its stake in shares of Spotify Technology by 86.0% in the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after buying an additional 43 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Spotify Technology in the 2nd quarter worth $25,000. Mather Group LLC. raised its stake in shares of Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after buying an additional 99 shares in the last quarter. FinTrust Capital Advisors LLC raised its stake in shares of Spotify Technology by 400.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock worth $33,000 after buying an additional 100 shares in the last quarter. Finally, Asset Dedication LLC bought a new stake in shares of Spotify Technology in the 2nd quarter worth $35,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $323.83 on Tuesday. Spotify Technology S.A. has a 1-year low of $145.76 and a 1-year high of $359.38. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $64.46 billion, a price-to-earnings ratio of -483.32 and a beta of 1.57. The stock’s fifty day simple moving average is $325.62 and its 200-day simple moving average is $302.41.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, July 23rd. The company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.25. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the previous year, the company posted ($1.69) earnings per share. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, sell-side analysts predict that Spotify Technology S.A. will post 6.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wolfe Research assumed coverage on Spotify Technology in a research note on Friday, July 12th. They issued an “outperform” rating and a $390.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on Spotify Technology from $375.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Guggenheim boosted their price objective on Spotify Technology from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald began coverage on Spotify Technology in a research note on Thursday, September 5th. They issued a “neutral” rating and a $340.00 price objective on the stock. Finally, UBS Group boosted their target price on Spotify Technology from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $356.38.

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.