Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Prospera Financial Services Inc

Prospera Financial Services Inc trimmed its holdings in Spotify Technology S.A. (NYSE:SPOT) by 5.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,586 shares of the company’s stock after selling 92 shares during the period. Prospera Financial Services Inc’s holdings in Spotify Technology were worth $584,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of SPOT. Transcendent Capital Group LLC acquired a new stake in shares of Spotify Technology in the second quarter valued at about $25,000. Benjamin Edwards Inc. grew its holdings in shares of Spotify Technology by 214.8% in the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Mather Group LLC. grew its holdings in shares of Spotify Technology by 9,900.0% in the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after purchasing an additional 99 shares during the period. Asset Dedication LLC purchased a new stake in shares of Spotify Technology in the second quarter valued at about $35,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Spotify Technology in the second quarter valued at about $39,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Stock Up 0.9 %

Shares of NYSE:SPOT opened at $475.04 on Friday. The firm’s 50 day moving average price is $391.61 and its 200 day moving average price is $344.27. The stock has a market cap of $94.56 billion, a price-to-earnings ratio of 129.09 and a beta of 1.56. Spotify Technology S.A. has a fifty-two week low of $178.73 and a fifty-two week high of $489.69.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data 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). 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 analyst estimates of $4.03 billion. During the same period in the previous year, the business posted $0.36 EPS. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, equities analysts anticipate that Spotify Technology S.A. will post 6.02 EPS for the current year.

Wall Street Analyst Weigh In

SPOT has been the subject of a number of analyst reports. Rosenblatt Securities upped their price objective on shares of Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Evercore ISI upped their price objective on shares of Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. The Goldman Sachs Group upped their price objective on shares of Spotify Technology from $430.00 to $490.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Cantor Fitzgerald reissued a “neutral” rating and issued a $340.00 price objective on shares of Spotify Technology in a report on Monday, October 7th. Finally, Bank of America increased their target price on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus target price of $421.69.

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.