Calamos Wealth Management LLC Decreases Stock Holdings in Spotify Technology (NYSE:SPOT)

Calamos Wealth Management LLC cut its position in Spotify Technology (NYSE:SPOT - Free Report) by 38.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,314 shares of the company's stock after selling 2,036 shares during the quarter. Calamos Wealth Management LLC's holdings in Spotify Technology were worth $1,823,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Mpwm Advisory Solutions LLC bought a new position in Spotify Technology in the fourth quarter valued at about $26,000. Hillsdale Investment Management Inc. bought a new position in Spotify Technology in the fourth quarter valued at about $27,000. Tsfg LLC bought a new position in Spotify Technology in the first quarter valued at about $28,000. Copia Wealth Management bought a new position in Spotify Technology in the fourth quarter valued at about $29,000. Finally, North Star Investment Management Corp. raised its position in Spotify Technology by 52.8% in the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after purchasing an additional 19 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Price Performance

Shares of SPOT stock traded up $14.48 during trading hours on Friday, reaching $723.98. The company had a trading volume of 1,078,903 shares, compared to its average volume of 2,228,612. Spotify Technology has a 12 month low of $288.07 and a 12 month high of $785.00. The business has a fifty day simple moving average of $678.50 and a 200-day simple moving average of $592.85. The company has a market cap of $148.20 billion, a price-to-earnings ratio of 120.06, a price-to-earnings-growth ratio of 1.91 and a beta of 1.68.

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). The business had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.22 billion. Spotify Technology had a net margin of 7.19% and a return on equity of 22.53%. The business's revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.97 earnings per share. On average, equities research analysts expect that Spotify Technology will post 10.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on SPOT. Wells Fargo & Company increased their target price on Spotify Technology from $690.00 to $740.00 and gave the company an "overweight" rating in a research report on Friday, March 28th. Rosenblatt Securities decreased their price target on Spotify Technology from $658.00 to $657.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Bank of America increased their price target on Spotify Technology from $700.00 to $900.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Evercore ISI increased their price target on Spotify Technology from $650.00 to $750.00 and gave the company an "outperform" rating in a research note on Monday, June 16th. Finally, Loop Capital increased their price target on Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Spotify Technology currently has an average rating of "Moderate Buy" and an average price target of $660.28.

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.