Cibc World Market Inc. Has $355,000 Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Cibc World Market Inc. cut its position in Spotify Technology S.A. (NYSE:SPOTGet Rating) by 21.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,783 shares of the company’s stock after selling 1,040 shares during the period. Cibc World Market Inc.’s holdings in Spotify Technology were worth $355,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SPOT. FDx Advisors Inc. grew its stake in shares of Spotify Technology by 41.9% in the 1st quarter. FDx Advisors Inc. now owns 3,809 shares of the company’s stock valued at $575,000 after buying an additional 1,124 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in Spotify Technology by 181.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 4,381 shares of the company’s stock valued at $662,000 after acquiring an additional 2,822 shares in the last quarter. Clearstead Advisors LLC lifted its position in Spotify Technology by 20.4% in the 1st quarter. Clearstead Advisors LLC now owns 1,327 shares of the company’s stock valued at $200,000 after acquiring an additional 225 shares in the last quarter. Prospera Financial Services Inc bought a new position in Spotify Technology in the 1st quarter valued at about $118,000. Finally, Stephens Investment Management Group LLC lifted its position in Spotify Technology by 1.3% in the 1st quarter. Stephens Investment Management Group LLC now owns 47,835 shares of the company’s stock valued at $7,224,000 after acquiring an additional 609 shares in the last quarter. 55.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SPOT shares. Citigroup dropped their price target on shares of Spotify Technology from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, October 27th. UBS Group dropped their price target on shares of Spotify Technology from $185.00 to $142.00 and set a “neutral” rating on the stock in a research report on Thursday, July 28th. Benchmark dropped their price target on shares of Spotify Technology from $155.00 to $125.00 in a research report on Wednesday, October 26th. KeyCorp dropped their target price on shares of Spotify Technology from $148.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, October 21st. Finally, The Goldman Sachs Group dropped their target price on shares of Spotify Technology from $133.00 to $114.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 26th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $151.72.

Spotify Technology Trading Up 4.0 %

Spotify Technology stock opened at $78.26 on Thursday. Spotify Technology S.A. has a 1-year low of $69.29 and a 1-year high of $253.05. The firm has a market capitalization of $15.04 billion, a price-to-earnings ratio of -41.21 and a beta of 1.73. The firm has a 50 day simple moving average of $85.85 and a 200 day simple moving average of $99.95.

Spotify Technology (NYSE:SPOTGet Rating) last released its quarterly earnings data on Tuesday, October 25th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.11). Spotify Technology had a negative net margin of 1.62% and a negative return on equity of 8.21%. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.03 billion. On average, equities research analysts forecast that Spotify Technology S.A. will post -2.64 EPS for the current year.

Spotify Technology Profile

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Spotify Technology SA, together with its subsidiaries, provides audio streaming services worldwide. It operates through Premium and Ad-Supported segments. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.

See Also

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Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

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