Cwm LLC Has $14.31 Million Stake in Spotify Technology S.A. (NYSE:SPOT)

Cwm LLC reduced its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 10.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,822 shares of the company’s stock after selling 4,307 shares during the period. Cwm LLC’s holdings in Spotify Technology were worth $14,307,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SPOT. Gunderson Capital Management Inc. acquired a new stake in shares of Spotify Technology in the third quarter worth $3,051,000. Future Financial Wealth Managment LLC bought a new position in Spotify Technology in the 3rd quarter worth $55,000. Rockingstone Advisors LLC lifted its position in Spotify Technology by 3.4% during the 3rd quarter. Rockingstone Advisors LLC now owns 8,933 shares of the company’s stock worth $3,292,000 after acquiring an additional 290 shares during the last quarter. Atomi Financial Group Inc. boosted its holdings in Spotify Technology by 23.3% during the third quarter. Atomi Financial Group Inc. now owns 1,571 shares of the company’s stock valued at $579,000 after acquiring an additional 297 shares during the period. Finally, Dynamic Advisor Solutions LLC grew its position in shares of Spotify Technology by 1.9% in the third quarter. Dynamic Advisor Solutions LLC now owns 2,526 shares of the company’s stock valued at $931,000 after purchasing an additional 47 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SPOT shares. Rosenblatt Securities boosted their price objective on Spotify Technology from $396.00 to $399.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on Spotify Technology from $375.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Wolfe Research began coverage on shares of Spotify Technology in a research note on Friday, July 12th. They issued an “outperform” rating and a $390.00 price objective on the stock. Barclays upped their target price on shares of Spotify Technology from $350.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, The Goldman Sachs Group upgraded shares of Spotify Technology from a “neutral” rating to a “buy” rating and raised their price target for the stock from $320.00 to $425.00 in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $359.14.

Spotify Technology Price Performance

NYSE:SPOT opened at $373.86 on Friday. The firm has a market cap of $74.42 billion, a PE ratio of 152.60 and a beta of 1.58. The company’s 50-day moving average price is $347.52 and its two-hundred day moving average price is $318.15. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31. Spotify Technology S.A. has a 12 month low of $145.76 and a 12 month high of $389.23.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.25. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The business’s revenue was up 19.8% on a year-over-year basis. During the same period last year, the firm posted ($1.69) EPS. On average, equities analysts anticipate that Spotify Technology S.A. will post 6.24 EPS for the current fiscal year.

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.