Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Castle Hook Partners LP

Castle Hook Partners LP trimmed its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 31.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 274,914 shares of the company's stock after selling 126,372 shares during the period. Spotify Technology makes up about 1.5% of Castle Hook Partners LP's holdings, making the stock its 15th biggest position. Castle Hook Partners LP owned approximately 0.14% of Spotify Technology worth $122,991,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC acquired a new stake in shares of Spotify Technology in the 4th quarter valued at approximately $1,335,575,000. FMR LLC lifted its holdings in Spotify Technology by 30.2% in the fourth quarter. FMR LLC now owns 2,041,387 shares of the company's stock valued at $913,276,000 after acquiring an additional 473,569 shares during the period. Schroder Investment Management Group boosted its position in shares of Spotify Technology by 0.4% during the 4th quarter. Schroder Investment Management Group now owns 1,912,937 shares of the company's stock worth $855,810,000 after purchasing an additional 7,075 shares in the last quarter. GQG Partners LLC purchased a new stake in shares of Spotify Technology during the 4th quarter worth $800,725,000. Finally, Geode Capital Management LLC grew 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. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

Shares of NYSE:SPOT traded down $6.29 during trading on Friday, reaching $648.97. 1,210,728 shares of the stock were exchanged, compared to its average volume of 2,167,680. Spotify Technology S.A. has a 12-month low of $286.21 and a 12-month high of $663.55. The firm's 50-day moving average price is $575.47 and its 200 day moving average price is $523.89. The firm has a market cap of $132.85 billion, a price-to-earnings ratio of 109.07 and a beta of 1.72.

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

Wall Street Analysts Forecast Growth

SPOT has been the topic of a number of research analyst reports. Wolfe Research raised shares of Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 price objective on the stock in a report on Monday, April 21st. Guggenheim restated a "buy" rating and issued a $675.00 price target on shares of Spotify Technology in a report on Monday, February 24th. Barclays reduced their price objective on Spotify Technology from $710.00 to $650.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Macquarie boosted their target price on Spotify Technology from $600.00 to $665.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Finally, Phillip Securities upgraded Spotify Technology to a "moderate sell" rating in a research report on Monday. Eight analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $604.76.

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.