Barrier Capital Management LLC Decreases Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Barrier Capital Management LLC reduced its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 52.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,165 shares of the company's stock after selling 12,362 shares during the period. Spotify Technology makes up 4.0% of Barrier Capital Management LLC's portfolio, making the stock its 11th largest holding. Barrier Capital Management LLC's holdings in Spotify Technology were worth $4,995,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SPOT. Jennison Associates LLC bought a new stake in Spotify Technology during the fourth quarter worth approximately $1,335,575,000. GQG Partners LLC bought a new stake in Spotify Technology in the fourth quarter worth $800,725,000. Forsta AP Fonden purchased a new position in Spotify Technology during the fourth quarter worth $619,600,000. Geode Capital Management LLC boosted its stake in shares of Spotify Technology by 561.6% during the 4th quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock worth $659,841,000 after purchasing an additional 1,259,183 shares during the period. Finally, Norges Bank purchased a new position in shares of Spotify Technology during the fourth quarter valued at approximately $396,028,000. 84.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on SPOT. Guggenheim reaffirmed a "buy" rating and set a $675.00 target price on shares of Spotify Technology in a research report on Monday, February 24th. Wolfe Research raised shares of Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 price target for the company in a research report on Monday, April 21st. JPMorgan Chase & Co. boosted their target price on shares of Spotify Technology from $640.00 to $670.00 and gave the stock an "overweight" rating in a report on Wednesday. Morgan Stanley upped their price target on Spotify Technology from $550.00 to $670.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 5th. Finally, Evercore ISI lowered their price objective on Spotify Technology from $700.00 to $650.00 and set an "outperform" rating for the company in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $604.76.

Spotify Technology Trading Up 6.7 %

Shares of SPOT stock opened at $642.77 on Friday. Spotify Technology S.A. has a 12-month low of $286.21 and a 12-month high of $653.32. The business's 50 day moving average is $570.40 and its two-hundred day moving average is $515.58. The company has a market capitalization of $131.58 billion, a P/E ratio of 108.03 and a beta of 1.72.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.29 by ($1.16). The business had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.22 billion. Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. The company's quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the business earned $0.97 EPS. On average, research analysts predict that Spotify Technology S.A. will post 10.3 earnings per share for the current fiscal year.

Spotify Technology 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.

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