Spotify Technology $SPOT Shares Sold by Andra AP fonden

Andra AP fonden lessened its stake in Spotify Technology (NYSE:SPOTFree Report) by 48.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,598 shares of the company’s stock after selling 29,100 shares during the quarter. Andra AP fonden’s holdings in Spotify Technology were worth $21,357,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Knuff & Co LLC acquired a new position in Spotify Technology in the second quarter valued at approximately $27,000. Heartwood Wealth Advisors LLC acquired a new position in shares of Spotify Technology in the 3rd quarter valued at $27,000. Greykasell Wealth Strategies Inc. boosted its holdings in Spotify Technology by 3,800.0% during the third quarter. Greykasell Wealth Strategies Inc. now owns 39 shares of the company’s stock worth $27,000 after buying an additional 38 shares in the last quarter. Total Investment Management Inc. acquired a new stake in Spotify Technology during the second quarter valued at $29,000. Finally, Westfuller Advisors LLC purchased a new position in Spotify Technology in the third quarter valued at $29,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SPOT has been the topic of several recent analyst reports. Wall Street Zen raised shares of Spotify Technology from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Moffett Nathanson assumed coverage on Spotify Technology in a report on Tuesday, January 27th. They issued a “neutral” rating and a $487.00 price objective on the stock. UBS Group cut their price objective on Spotify Technology from $850.00 to $800.00 and set a “buy” rating for the company in a research report on Friday, January 9th. Barclays increased their target price on Spotify Technology from $625.00 to $650.00 and gave the company an “overweight” rating in a research report on Wednesday, February 11th. Finally, Benchmark cut their price target on shares of Spotify Technology from $860.00 to $760.00 and set a “buy” rating for the company in a report on Friday, January 16th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $698.91.

Read Our Latest Stock Report on SPOT

Spotify Technology News Roundup

Here are the key news stories impacting Spotify Technology this week:

Spotify Technology Stock Performance

SPOT stock opened at $514.02 on Friday. The firm has a market cap of $105.80 billion, a PE ratio of 53.32, a PEG ratio of 1.08 and a beta of 1.66. Spotify Technology has a one year low of $405.00 and a one year high of $785.00. The firm’s 50 day moving average price is $512.60 and its 200-day moving average price is $608.20.

Spotify Technology (NYSE:SPOTGet Free Report) last posted its earnings results on Tuesday, February 10th. The company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $3.16 by $2.00. Spotify Technology had a return on equity of 31.35% and a net margin of 13.16%.The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the previous year, the business earned $1.88 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities research analysts predict that Spotify Technology will post 10.3 EPS for the current fiscal year.

Spotify Technology Company Profile

(Free Report)

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.

Further Reading

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

Receive News & Ratings for Spotify Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spotify Technology and related companies with MarketBeat.com's FREE daily email newsletter.