Asset Management One Co. Ltd. Has $50.97 Million Holdings in Spotify Technology (NYSE:SPOT)

Asset Management One Co. Ltd. lowered its stake in Spotify Technology (NYSE:SPOT - Free Report) by 7.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 92,670 shares of the company's stock after selling 7,336 shares during the period. Asset Management One Co. Ltd.'s holdings in Spotify Technology were worth $50,971,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of SPOT. Adero Partners LLC increased its stake in Spotify Technology by 0.7% during the first quarter. Adero Partners LLC now owns 2,635 shares of the company's stock valued at $1,449,000 after purchasing an additional 19 shares during the last quarter. North Star Investment Management Corp. lifted its holdings in Spotify Technology by 52.8% in the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after acquiring an additional 19 shares during the last quarter. Auxano Advisors LLC boosted its stake in Spotify Technology by 2.5% in the fourth quarter. Auxano Advisors LLC now owns 828 shares of the company's stock valued at $370,000 after acquiring an additional 20 shares during the period. SRS Capital Advisors Inc. grew its holdings in shares of Spotify Technology by 4.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock valued at $256,000 after purchasing an additional 25 shares during the last quarter. Finally, Covenant Partners LLC lifted its holdings in shares of 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 during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on SPOT shares. Guggenheim increased their target price on Spotify Technology from $725.00 to $840.00 and gave the stock a "buy" rating in a research report on Wednesday. Cantor Fitzgerald increased their price objective on shares of Spotify Technology from $610.00 to $640.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. Wells Fargo & Company boosted their target price on shares of Spotify Technology from $690.00 to $740.00 and gave the company an "overweight" rating in a research note on Friday, March 28th. Phillip Securities upgraded shares of Spotify Technology to a "moderate sell" rating in a research note on Monday, May 5th. Finally, Loop Capital boosted their price objective on Spotify Technology from $435.00 to $550.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $634.24.

Spotify Technology Price Performance

NYSE SPOT traded down $13.92 on Wednesday, hitting $735.99. 1,144,738 shares of the company were exchanged, compared to its average volume of 2,204,556. Spotify Technology has a twelve month low of $288.07 and a twelve month high of $758.91. The firm has a market capitalization of $150.66 billion, a P/E ratio of 122.05, a price-to-earnings-growth ratio of 1.92 and a beta of 1.68. The company's 50 day moving average price is $653.56 and its 200-day moving average price is $578.07.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its 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). The firm had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.22 billion. Spotify Technology had a return on equity of 22.53% and a net margin of 7.19%. The business's revenue was up 15.2% on a year-over-year basis. During the same period last year, the business earned $0.97 earnings per share. As a group, equities analysts expect that Spotify Technology will post 10.3 EPS for the current year.

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.