Rathbones Group PLC Sells 123 Shares of Spotify Technology S.A. (NYSE:SPOT)

Rathbones Group PLC reduced its stake in Spotify Technology S.A. (NYSE:SPOT) by 7.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,467 shares of the company’s stock after selling 123 shares during the quarter. Rathbones Group PLC’s holdings in Spotify Technology were worth $460,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new stake in shares of Spotify Technology in the 2nd quarter valued at $25,000. Larson Financial Group LLC lifted its holdings in Spotify Technology by 86.0% in the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after buying an additional 43 shares during the period. Mather Group LLC. boosted its position in Spotify Technology by 9,900.0% during the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after acquiring an additional 99 shares during the last quarter. Asset Dedication LLC acquired a new stake in Spotify Technology during the 2nd quarter worth about $35,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Spotify Technology in the 2nd quarter worth about $39,000. 84.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Redburn Atlantic restated a “sell” rating and set a $230.00 target price on shares of Spotify Technology in a research report on Wednesday, July 10th. UBS Group raised their price objective on shares of Spotify Technology from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Wolfe Research initiated coverage on shares of Spotify Technology in a research report on Friday, July 12th. They set an “outperform” rating and a $390.00 target price on the stock. DZ Bank raised shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 target price on the stock in a research note on Wednesday, July 24th. Finally, Rosenblatt Securities lifted their price target on shares of Spotify Technology from $396.00 to $399.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and an average target price of $357.41.

Spotify Technology Trading Up 1.0 %

NYSE:SPOT opened at $342.10 on Wednesday. Spotify Technology S.A. has a 52 week low of $145.76 and a 52 week high of $359.38. The firm has a 50-day moving average price of $328.27 and a two-hundred day moving average price of $305.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a market cap of $65.07 billion, a price-to-earnings ratio of -510.60 and a beta of 1.57.

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