Riposte Capital LLC Decreases Stock Position in Spotify Technology (NYSE:SPOT)

Key Points

• Riposte Capital LLC reduced its stake in Spotify Technology by 25% in the first quarter, now holding 15,000 shares valued at approximately $8.25 million.
• Several institutional investors increased their positions in Spotify, with HM Payson & Co. raising its stake by 39.1% and North Star Investment Management Corp. increasing by 52.8% during the same period.
• Spotify's stock currently trades at around $680.41, with analysts setting an average price target of $727.52 and a consensus rating of "Moderate Buy."

Riposte Capital LLC lowered its stake in Spotify Technology (NYSE:SPOT - Free Report) by 25.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,000 shares of the company's stock after selling 5,000 shares during the period. Spotify Technology accounts for approximately 1.5% of Riposte Capital LLC's holdings, making the stock its 11th biggest holding. Riposte Capital LLC's holdings in Spotify Technology were worth $8,250,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. HM Payson & Co. boosted its stake in Spotify Technology by 39.1% in the 1st quarter. HM Payson & Co. now owns 64 shares of the company's stock worth $35,000 after purchasing an additional 18 shares in the last quarter. North Star Investment Management Corp. boosted its stake in Spotify Technology by 52.8% in the 1st quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after purchasing an additional 19 shares in the last quarter. Adero Partners LLC boosted its stake in Spotify Technology by 0.7% in the 1st quarter. Adero Partners LLC now owns 2,635 shares of the company's stock worth $1,449,000 after purchasing an additional 19 shares in the last quarter. Covenant Partners LLC boosted its stake in Spotify Technology by 2.5% in the 4th quarter. Covenant Partners LLC now owns 1,024 shares of the company's stock worth $458,000 after purchasing an additional 25 shares in the last quarter. Finally, Trifecta Capital Advisors LLC boosted its stake in Spotify Technology by 33.3% in the 1st quarter. Trifecta Capital Advisors LLC now owns 100 shares of the company's stock worth $55,000 after purchasing an additional 25 shares in the last quarter. Institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Up 1.7%

SPOT stock traded up $11.43 during midday trading on Friday, hitting $692.85. The company's stock had a trading volume of 1,756,975 shares, compared to its average volume of 1,713,343. Spotify Technology has a 12 month low of $300.57 and a 12 month high of $785.00. The firm has a market capitalization of $141.83 billion, a price-to-earnings ratio of 114.90, a price-to-earnings-growth ratio of 1.84 and a beta of 1.68. The company has a 50 day moving average of $701.36 and a two-hundred day moving average of $618.42.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share for the quarter, missing the consensus estimate of $2.29 by ($1.16). Spotify Technology had a return on equity of 22.53% and a net margin of 7.19%. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter in the previous year, the company earned $0.97 earnings per share. The company's revenue for the quarter was up 15.2% compared to the same quarter last year. On average, analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SPOT shares. Macquarie upped their price target on shares of Spotify Technology from $600.00 to $665.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Phillip Securities raised Spotify Technology to a "moderate sell" rating in a research report on Monday, May 5th. Loop Capital boosted their target price on Spotify Technology from $435.00 to $550.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Morgan Stanley boosted their target price on Spotify Technology from $700.00 to $850.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Pivotal Research boosted their target price on Spotify Technology from $800.00 to $900.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $727.52.

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.