Jackson Creek Investment Advisors LLC Sells 391 Shares of Spotify Technology (NYSE:SPOT)

Jackson Creek Investment Advisors LLC decreased its stake in Spotify Technology (NYSE:SPOT - Free Report) by 43.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 513 shares of the company's stock after selling 391 shares during the period. Jackson Creek Investment Advisors LLC's holdings in Spotify Technology were worth $282,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. GQG Partners LLC purchased a new position in Spotify Technology in the 4th quarter worth $800,725,000. Jennison Associates LLC boosted its holdings in shares of Spotify Technology by 42.3% during the first quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock worth $2,336,494,000 after purchasing an additional 1,262,614 shares during the period. Geode Capital Management LLC increased its holdings in Spotify Technology by 561.6% during the 4th 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 during the period. Norges Bank purchased a new position in shares of Spotify Technology during the fourth quarter valued at approximately $396,028,000. Finally, Janus Henderson Group PLC raised its holdings in Spotify Technology by 325.9% in the 4th 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. Hedge funds and other institutional investors own 84.09% of the company's stock.

Spotify Technology Price Performance

Shares of Spotify Technology stock opened at $694.90 on Friday. The stock has a market capitalization of $142.25 billion, a PE ratio of 115.24, a P/E/G ratio of 1.92 and a beta of 1.68. Spotify Technology has a 1-year low of $290.13 and a 1-year high of $785.00. The company's fifty day simple moving average is $696.06 and its 200-day simple moving average is $609.71.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly 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 return on equity of 22.53% and a net margin of 7.19%. The company had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.22 billion. During the same quarter in the previous year, the company earned $0.97 EPS. The business's quarterly revenue was up 15.2% compared to the same quarter last year. As a group, research analysts anticipate that Spotify Technology will post 10.3 EPS for the current year.

Analysts Set New Price Targets

SPOT has been the subject of several research reports. Benchmark increased their target price on Spotify Technology from $700.00 to $840.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. UBS Group lifted their price objective on Spotify Technology from $680.00 to $895.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Evercore ISI increased their target price on Spotify Technology from $650.00 to $750.00 and gave the stock an "outperform" rating in a research note on Monday, June 16th. Canaccord Genuity Group lifted their price target on Spotify Technology from $775.00 to $850.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Spotify Technology from $730.00 to $780.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $701.31.

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.

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