Spotify Technology S.A. (NYSE:SPOT) Stake Cut by Cim LLC

Cim LLC cut its holdings in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 25.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,427 shares of the company's stock after selling 1,498 shares during the quarter. Cim LLC's holdings in Spotify Technology were worth $1,981,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPOT. Avior Wealth Management LLC boosted its stake in Spotify Technology by 58.0% during the 4th quarter. Avior Wealth Management LLC now owns 444 shares of the company's stock valued at $199,000 after purchasing an additional 163 shares during the last quarter. Cornerstone Wealth Management LLC bought a new position in Spotify Technology in the 4th quarter worth about $233,000. RFG Advisory LLC raised its holdings in shares of Spotify Technology by 10.4% in the fourth quarter. RFG Advisory LLC now owns 1,993 shares of the company's stock valued at $891,000 after acquiring an additional 188 shares in the last quarter. Fifth Third Bancorp boosted its position in Spotify Technology by 44.4% during the 4th quarter. Fifth Third Bancorp now owns 231 shares of the company's stock valued at $103,000 after acquiring an additional 71 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC increased its stake in Spotify Technology by 4.9% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 2,650 shares of the company's stock valued at $1,185,000 after purchasing an additional 124 shares in the last quarter. Institutional investors own 84.09% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on SPOT shares. KeyCorp cut their price objective on Spotify Technology from $675.00 to $625.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Cantor Fitzgerald cut their price objective on Spotify Technology from $600.00 to $520.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. increased their target price on Spotify Technology from $640.00 to $670.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Wolfe Research upgraded Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 price objective for the company in a research note on Monday, April 21st. Finally, Robert W. Baird raised their price objective on Spotify Technology from $700.00 to $730.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Eight investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $609.07.

Spotify Technology Stock Performance

Shares of Spotify Technology stock traded down $27.29 during trading on Thursday, hitting $636.67. The company's stock had a trading volume of 1,939,076 shares, compared to its average volume of 2,214,725. Spotify Technology S.A. has a 52 week low of $288.07 and a 52 week high of $671.24. The company has a fifty day simple moving average of $598.28 and a two-hundred day simple moving average of $547.11. The company has a market capitalization of $130.33 billion, a PE ratio of 107.00 and a beta of 1.72.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced 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). 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 for the quarter, compared to analysts' expectations of $4.22 billion. During the same period in the prior year, the company posted $0.97 earnings per share. The firm's quarterly revenue was up 15.2% on a year-over-year basis. As a group, analysts predict that Spotify Technology S.A. will post 10.3 EPS for the current year.

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.