Bwcp LP reduced its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 41.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,575 shares of the company's stock after selling 19,388 shares during the period. Spotify Technology accounts for about 2.7% of Bwcp LP's holdings, making the stock its 20th biggest holding. Bwcp LP's holdings in Spotify Technology were worth $12,337,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Hillsdale Investment Management Inc. purchased a new stake in Spotify Technology in the 4th quarter valued at about $27,000. Quent Capital LLC lifted its holdings in shares of Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock worth $44,000 after acquiring an additional 57 shares during the last quarter. Noble Wealth Management PBC purchased a new position in shares of Spotify Technology during the 4th quarter worth approximately $52,000. Strategic Financial Concepts LLC acquired a new stake in Spotify Technology in the 4th quarter valued at approximately $56,000. Finally, Larson Financial Group LLC raised its position in Spotify Technology by 48.5% in the fourth quarter. Larson Financial Group LLC now owns 144 shares of the company's stock valued at $64,000 after purchasing an additional 47 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.
Spotify Technology Stock Performance
Spotify Technology stock traded down $6.51 during mid-day trading on Monday, reaching $637.49. 1,718,497 shares of the company were exchanged, compared to its average volume of 2,162,954. Spotify Technology S.A. has a twelve month low of $286.21 and a twelve month high of $653.32. The firm's 50-day simple moving average is $570.40 and its two-hundred day simple moving average is $516.62. The firm has a market cap of $130.50 billion, a PE ratio of 107.14 and a beta of 1.72.
Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 EPS for the quarter, missing analysts' consensus estimates of $2.29 by ($1.16). Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The firm had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.22 billion. During the same quarter in the previous year, the company posted $0.97 EPS. The firm's quarterly revenue was up 15.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Spotify Technology S.A. will post 10.3 EPS for the current year.
Analyst Upgrades and Downgrades
Several research firms have weighed in on SPOT. Loop Capital lifted their target price on Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a research report on Friday. UBS Group reduced their price objective on Spotify Technology from $690.00 to $680.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Guggenheim reissued a "buy" rating and set a $675.00 target price on shares of Spotify Technology in a research note on Monday, February 24th. Wells Fargo & Company increased their price target on Spotify Technology from $690.00 to $740.00 and gave the company an "overweight" rating in a research report on Friday, March 28th. Finally, KeyCorp lowered their price objective on Spotify Technology from $675.00 to $625.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $604.76.
Read Our Latest Stock Analysis on Spotify Technology
Spotify Technology Profile
(
Free Report)
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.
Featured Articles
Before you consider Spotify Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Spotify Technology wasn't on the list.
While Spotify Technology currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Spring 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
