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

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.

Y.D. More Investments Ltd cut its holdings in Spotify Technology (NYSE:SPOT - Free Report) by 11.3% in the 1st quarter, according to its most recent 13F filing with the SEC. 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 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in SPOT. Cornerstone Planning Group LLC grew its stake in shares of Spotify Technology by 512.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock valued at $29,000 after buying an additional 41 shares during the period. Tsfg LLC purchased a new stake in Spotify Technology during the first quarter valued at about $28,000. North Star Investment Management Corp. raised its holdings in shares of 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 during the period. Mpwm Advisory Solutions LLC acquired a new position in shares of Spotify Technology in the 4th quarter valued at about $26,000. Finally, Copia Wealth Management purchased a new stake in shares of Spotify Technology during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 84.09% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. DZ Bank raised shares of Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price target on the stock in a research report on Wednesday, July 30th. Cantor Fitzgerald upped their price target on shares of Spotify Technology from $610.00 to $640.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. Canaccord Genuity Group increased their price target on Spotify Technology from $775.00 to $850.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. 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 note on Friday, May 2nd. Finally, The Goldman Sachs Group upped their target price on Spotify Technology from $680.00 to $775.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, Spotify Technology has a consensus rating of "Moderate Buy" and an average price target of $718.90.

Spotify Technology Price Performance

Shares of SPOT opened at $666.91 on Thursday. The stock has a market capitalization of $136.52 billion, a PE ratio of 161.87, a price-to-earnings-growth ratio of 2.80 and a beta of 1.69. The business's fifty day moving average price is $700.75 and its 200 day moving average price is $627.08. Spotify Technology has a 12-month low of $319.07 and a 12-month high of $785.00.

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

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