Baldwin Wealth Partners LLC MA Reduces Holdings in Spotify Technology S.A. (NYSE:SPOT)

Baldwin Wealth Partners LLC MA cut its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 35.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 903 shares of the company's stock after selling 495 shares during the period. Baldwin Wealth Partners LLC MA's holdings in Spotify Technology were worth $497,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC purchased a new position in Spotify Technology during the 4th quarter valued at about $26,000. Hillsdale Investment Management Inc. bought a new stake in shares of Spotify Technology in the 4th quarter worth approximately $27,000. Copia Wealth Management purchased a new position in shares of Spotify Technology during the fourth quarter valued at approximately $29,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Spotify Technology by 209.1% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 68 shares of the company's stock valued at $37,000 after acquiring an additional 46 shares in the last quarter. Finally, Quent Capital LLC lifted its stake in Spotify Technology by 135.7% in the fourth quarter. Quent Capital LLC now owns 99 shares of the company's stock worth $44,000 after acquiring an additional 57 shares during the period. Institutional investors own 84.09% of the company's stock.

Spotify Technology Price Performance

NYSE SPOT traded down $6.50 during midday trading on Tuesday, hitting $692.62. 1,694,662 shares of the company traded hands, compared to its average volume of 2,215,329. Spotify Technology S.A. has a 52 week low of $288.07 and a 52 week high of $717.87. The company's 50-day simple moving average is $615.58 and its 200-day simple moving average is $561.07. The company has a market cap of $141.78 billion, a PE ratio of 116.41 and a beta of 1.68.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. Spotify Technology's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the previous 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 year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SPOT shares. Wells Fargo & Company lifted 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. UBS Group reaffirmed an "overweight" rating on shares of Spotify Technology in a research report on Friday. Guggenheim reissued a "buy" rating on shares of Spotify Technology in a research report on Friday. Evercore ISI lowered their target price on shares of Spotify Technology from $700.00 to $650.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Loop Capital boosted their price target on Spotify Technology from $435.00 to $550.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Eight research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $611.14.

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.