Charles Schwab Investment Management Inc. reduced its position in Spotify Technology (NYSE:SPOT - Free Report) by 6.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 141,429 shares of the company's stock after selling 9,375 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.07% of Spotify Technology worth $77,790,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Jennison Associates LLC increased its position in shares of Spotify Technology by 42.3% in the first quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock valued at $2,336,494,000 after buying an additional 1,262,614 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Spotify Technology by 3.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,526,988 shares of the company's stock valued at $1,939,949,000 after acquiring an additional 112,553 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Spotify Technology by 1,151.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company's stock worth $957,494,000 after purchasing an additional 1,601,653 shares in the last quarter. Northern Trust Corp grew its stake in shares of Spotify Technology by 103.7% in the fourth quarter. Northern Trust Corp now owns 1,426,902 shares of the company's stock worth $638,367,000 after purchasing an additional 726,245 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Spotify Technology by 325.9% in the fourth quarter. Janus Henderson Group PLC now owns 1,125,465 shares of the company's stock worth $503,316,000 after purchasing an additional 861,232 shares in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.
Spotify Technology Stock Up 4.8%
Shares of SPOT traded up $33.24 on Friday, hitting $731.74. The company's stock had a trading volume of 3,005,192 shares, compared to its average volume of 2,753,961. The firm has a market capitalization of $149.79 billion, a price-to-earnings ratio of 177.61, a P/E/G ratio of 3.02 and a beta of 1.69. Spotify Technology has a fifty-two week low of $319.07 and a fifty-two week high of $785.00. The firm's fifty day moving average price is $703.27 and its 200-day moving average price is $636.56.
Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of $2.00 by ($2.42). Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%. The firm had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the business earned $1.33 EPS. The firm's quarterly revenue was up 10.1% on a year-over-year basis. As a group, equities analysts predict that Spotify Technology will post 10.3 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
SPOT has been the subject of several recent analyst reports. Evercore ISI increased their price target on Spotify Technology from $650.00 to $750.00 and gave the stock an "outperform" rating in a research note on Monday, June 16th. Macquarie increased their price target on Spotify Technology from $600.00 to $665.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. increased their price target on Spotify Technology from $730.00 to $780.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Guggenheim increased their price target on Spotify Technology from $725.00 to $840.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Finally, UBS Group cut their price objective on Spotify Technology from $895.00 to $850.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. Ten analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, Spotify Technology presently has a consensus rating of "Moderate Buy" and an average target price of $718.90.
Check Out Our Latest Report on SPOT
Spotify Technology Company 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.
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