Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Andrew Hill Investment Advisors Inc.

Andrew Hill Investment Advisors Inc. reduced its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 58.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,329 shares of the company's stock after selling 3,273 shares during the period. Spotify Technology comprises approximately 1.2% of Andrew Hill Investment Advisors Inc.'s holdings, making the stock its 27th largest position. Andrew Hill Investment Advisors Inc.'s holdings in Spotify Technology were worth $1,281,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in SPOT. Jennison Associates LLC bought a new position in Spotify Technology in the fourth quarter valued at about $1,335,575,000. FMR LLC lifted its holdings in Spotify Technology by 30.2% during the fourth quarter. FMR LLC now owns 2,041,387 shares of the company's stock valued at $913,276,000 after purchasing an additional 473,569 shares in the last quarter. Schroder Investment Management Group lifted its holdings in Spotify Technology by 0.4% during the fourth quarter. Schroder Investment Management Group now owns 1,912,937 shares of the company's stock valued at $855,810,000 after purchasing an additional 7,075 shares in the last quarter. GQG Partners LLC purchased a new position in Spotify Technology during the fourth quarter valued at approximately $800,725,000. Finally, Geode Capital Management LLC lifted its holdings in Spotify Technology by 561.6% during the fourth quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock valued at $659,841,000 after purchasing an additional 1,259,183 shares in the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. UBS Group lowered their price target on shares of Spotify Technology from $690.00 to $680.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. JPMorgan Chase & Co. lifted their price target on shares of Spotify Technology from $640.00 to $670.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. China Renaissance assumed coverage on shares of Spotify Technology in a report on Wednesday, March 26th. They set a "buy" rating and a $740.00 price target on the stock. Phillip Securities raised shares of Spotify Technology to a "moderate sell" rating in a report on Monday, May 5th. Finally, Cantor Fitzgerald lowered their price target on shares of Spotify Technology from $600.00 to $520.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Eight investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $609.07.

Spotify Technology Price Performance

Shares of SPOT traded up $5.99 during midday trading on Monday, hitting $671.13. The stock had a trading volume of 1,860,180 shares, compared to its average volume of 2,226,080. Spotify Technology S.A. has a 1 year low of $288.07 and a 1 year high of $674.00. The firm has a market cap of $137.38 billion, a PE ratio of 112.79 and a beta of 1.72. The stock's 50 day moving average is $599.93 and its 200 day moving average is $551.47.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $1.13 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 revenue for the quarter was up 15.2% on a year-over-year basis. During the same period last year, the business posted $0.97 EPS. As a group, equities research analysts expect 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.