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Spotify Technology (NYSE:SPOT) Shares Sold by Y.D. More Investments Ltd

Spotify Technology logo with Computer and Technology background

Key Points

  • Y.D. More Investments Ltd reduced its stake in Spotify Technology by 11.3%, own 11,800 shares valued at approximately $6.49 million after selling 1,505 shares.
  • Research analysts have varied opinions on the stock, with the average price target now sitting at $718.90, indicating a consensus rating of "Moderate Buy".
  • Spotify reported a significant earnings miss, posting an EPS of ($0.42), falling short of the anticipated $2.00; however, revenue grew by 10.1% year-over-year to $4.94 billion.
  • Looking to export and analyze Spotify Technology data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Y.D. More Investments Ltd trimmed its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 11.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,800 shares of the company's stock after selling 1,505 shares during the period. Y.D. More Investments Ltd's holdings in Spotify Technology were worth $6,490,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Quadrant Capital Group LLC boosted its position in shares of Spotify Technology by 106.2% in the fourth quarter. Quadrant Capital Group LLC now owns 563 shares of the company's stock worth $252,000 after purchasing an additional 290 shares during the period. Rathbones Group PLC boosted its position in shares of Spotify Technology by 2.3% during the fourth quarter. Rathbones Group PLC now owns 1,364 shares of the company's stock worth $610,000 after acquiring an additional 31 shares during the last quarter. Bank of Nova Scotia boosted its position in shares of Spotify Technology by 36.4% during the fourth quarter. Bank of Nova Scotia now owns 750 shares of the company's stock worth $336,000 after acquiring an additional 200 shares during the last quarter. Martingale Asset Management L P boosted its position in shares of Spotify Technology by 13.3% during the fourth quarter. Martingale Asset Management L P now owns 735 shares of the company's stock worth $329,000 after acquiring an additional 86 shares during the last quarter. Finally, CenterBook Partners LP boosted its position in shares of Spotify Technology by 822.8% during the fourth quarter. CenterBook Partners LP now owns 36,599 shares of the company's stock worth $16,374,000 after acquiring an additional 32,633 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SPOT. The Goldman Sachs Group upped their target price on shares of Spotify Technology from $680.00 to $775.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Canaccord Genuity Group lifted their price target 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. Oppenheimer upgraded shares of Spotify Technology from a "market perform" rating to an "outperform" rating and set a $800.00 price objective for the company in a report on Thursday, July 24th. Barclays reduced their price target on shares of Spotify Technology from $800.00 to $750.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Finally, Cantor Fitzgerald boosted their price target on shares of Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $718.90.

Get Our Latest Analysis on Spotify Technology

Spotify Technology Trading Down 0.6%

NYSE SPOT traded down $4.32 during trading hours on Monday, reaching $701.57. The company had a trading volume of 687,980 shares, compared to its average volume of 2,340,063. The stock has a 50-day moving average of $702.55 and a 200 day moving average of $631.84. Spotify Technology has a 1-year low of $319.07 and a 1-year high of $785.00. The stock has a market capitalization of $143.62 billion, a P/E ratio of 170.19, a price-to-earnings-growth ratio of 3.06 and a beta of 1.69.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of $2.00 by ($2.42). The firm had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The firm's revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business earned $1.33 EPS. As a group, sell-side analysts predict that Spotify Technology will post 10.3 EPS for the current year.

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.

Further Reading

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

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