Aubrey Capital Management Ltd Sells 2,700 Shares of Spotify Technology S.A. (NYSE:SPOT)

Aubrey Capital Management Ltd lessened its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 27.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,300 shares of the company's stock after selling 2,700 shares during the period. Spotify Technology accounts for about 1.6% of Aubrey Capital Management Ltd's investment portfolio, making the stock its 15th biggest holding. Aubrey Capital Management Ltd's holdings in Spotify Technology were worth $4,016,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SPOT. Thrivent Financial for Lutherans lifted its position in Spotify Technology by 566.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 7,980 shares of the company's stock worth $3,541,000 after acquiring an additional 6,782 shares during the last quarter. Marks Group Wealth Management Inc acquired a new position in Spotify Technology during the 4th quarter worth $535,000. Steward Partners Investment Advisory LLC lifted its position in Spotify Technology by 4.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,072 shares of the company's stock worth $927,000 after acquiring an additional 85 shares during the last quarter. WealthPlan Investment Management LLC acquired a new position in Spotify Technology during the 4th quarter worth $217,000. Finally, Amundi lifted its position in Spotify Technology by 194.2% during the 4th quarter. Amundi now owns 750,030 shares of the company's stock worth $359,812,000 after acquiring an additional 495,087 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SPOT. Barclays cut their target price on shares of Spotify Technology from $710.00 to $650.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. KeyCorp cut their target price on shares of Spotify Technology from $675.00 to $625.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Wolfe Research raised shares of Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 price objective for the company in a research report on Monday, April 21st. Redburn Atlantic assumed coverage on shares of Spotify Technology in a research report on Tuesday, March 11th. They set a "neutral" rating and a $545.00 price objective for the company. Finally, FBN Securities assumed coverage on shares of Spotify Technology in a research report on Friday, March 28th. They set a "sector perform" rating and a $645.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $611.14.

Spotify Technology Trading Up 1.1%

Shares of SPOT stock traded up $7.71 during trading hours on Friday, hitting $710.53. 1,124,720 shares of the company were exchanged, compared to its average volume of 2,208,536. The business has a 50 day moving average of $626.06 and a two-hundred day moving average of $564.52. Spotify Technology S.A. has a 52 week low of $288.07 and a 52 week high of $717.87. The company has a market capitalization of $145.45 billion, a PE ratio of 119.42 and a beta of 1.68.

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

About Spotify Technology

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.