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Spotify Technology (NYSE:SPOT) Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Spotify Technology logo with Computer and Technology background

Bank Julius Baer & Co. Ltd Zurich decreased its position in shares of Spotify Technology (NYSE:SPOT - Free Report) by 9.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,783 shares of the company's stock after selling 3,487 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in Spotify Technology were worth $20,436,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SPOT. GQG Partners LLC purchased a new position in shares of Spotify Technology during the 4th quarter valued at approximately $800,725,000. Jennison Associates LLC lifted its position in shares of Spotify Technology by 42.3% during the 1st 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. Geode Capital Management LLC lifted its position in shares of 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 buying an additional 1,259,183 shares in the last quarter. Norges Bank purchased a new position in Spotify Technology in the 4th quarter valued at $396,028,000. Finally, Janus Henderson Group PLC boosted its stake in Spotify Technology by 325.9% during 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 during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Price Performance

Shares of SPOT stock traded up $11.43 during trading hours on Friday, reaching $692.85. 1,756,975 shares of the stock were exchanged, compared to its average volume of 1,713,343. The business's fifty day moving average is $701.36 and its two-hundred day moving average is $618.42. 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 P/E ratio of 114.90, a P/E/G ratio of 1.84 and a beta of 1.68.

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 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 firm had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.22 billion. During the same quarter in the previous 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, equities research analysts predict that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group lifted their target price on shares of Spotify Technology from $775.00 to $850.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Bank of America lifted their target price on shares of Spotify Technology from $700.00 to $900.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. DZ Bank cut shares of Spotify Technology from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, June 13th. UBS Group lifted their target price on shares of Spotify Technology from $680.00 to $895.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Finally, Guggenheim lifted their target price on shares of Spotify Technology from $725.00 to $840.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $727.52.

Read Our Latest Analysis on SPOT

Spotify Technology 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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Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

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