Spotify Technology S.A. (NYSE:SPOT) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC lessened its position in Spotify Technology S.A. (NYSE:SPOT) by 99.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 838 shares of the company’s stock after selling 346,686 shares during the period. International Assets Investment Management LLC’s holdings in Spotify Technology were worth $384,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. WCM Investment Management LLC grew its holdings in Spotify Technology by 18.5% in the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after purchasing an additional 605,755 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Spotify Technology by 3.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock worth $1,286,969,000 after purchasing an additional 102,786 shares in the last quarter. State Street Corp lifted its stake in Spotify Technology by 1.5% in the 3rd quarter. State Street Corp now owns 1,997,323 shares of the company’s stock valued at $736,073,000 after buying an additional 28,864 shares in the last quarter. FMR LLC increased its position in Spotify Technology by 23.4% during the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after buying an additional 297,035 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of Spotify Technology by 19.0% during the third quarter. Two Sigma Advisers LP now owns 980,000 shares of the company’s stock valued at $361,159,000 after acquiring an additional 156,300 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of Spotify Technology stock opened at $459.82 on Friday. The company’s 50 day moving average price is $460.14 and its two-hundred day moving average price is $384.26. Spotify Technology S.A. has a fifty-two week low of $191.88 and a fifty-two week high of $506.47. The firm has a market capitalization of $91.53 billion, a P/E ratio of 124.95 and a beta of 1.62.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same period last year, the company earned $0.36 EPS. Spotify Technology’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, analysts expect that Spotify Technology S.A. will post 6.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group upped their price objective on shares of Spotify Technology from $525.00 to $560.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Benchmark increased their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft lifted their price objective on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Phillip Securities reissued an “accumulate” rating and set a $485.00 target price (up previously from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $433.36.

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.