David J Yvars Group lessened its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 26.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,416 shares of the company's stock after selling 2,963 shares during the period. Spotify Technology makes up approximately 3.6% of David J Yvars Group's holdings, making the stock its 7th largest position. David J Yvars Group's holdings in Spotify Technology were worth $4,629,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in SPOT. GQG Partners LLC bought a new stake in Spotify Technology in the 4th quarter worth approximately $800,725,000. Geode Capital Management LLC increased its holdings in Spotify Technology by 561.6% during the fourth 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 during the last quarter. Norges Bank purchased a new stake in Spotify Technology during the fourth quarter valued at approximately $396,028,000. Janus Henderson Group PLC increased its holdings in Spotify Technology by 325.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,125,465 shares of the company's stock valued at $503,316,000 after buying an additional 861,232 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Spotify Technology by 103.7% during the fourth quarter. Northern Trust Corp now owns 1,426,902 shares of the company's stock valued at $638,367,000 after buying an additional 726,245 shares during the last quarter. Institutional investors own 84.09% of the company's stock.
Spotify Technology Trading Up 1.1%
Shares of NYSE:SPOT traded up $7.71 during midday trading on Friday, reaching $710.53. 1,124,720 shares of the company were exchanged, compared to its average volume of 2,209,186. The business's fifty day moving average is $629.98 and its two-hundred day moving average is $566.76. Spotify Technology S.A. has a one year low of $288.07 and a one year high of $717.87. The stock has a market cap of $145.45 billion, a PE ratio of 119.42 and a beta of 1.68.
Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 EPS for the quarter, missing the consensus estimate of $2.29 by ($1.16). Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter last year, the business earned $0.97 EPS. Spotify Technology's revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, sell-side analysts expect that Spotify Technology S.A. will post 10.3 EPS for the current year.
Analyst Ratings Changes
A number of analysts have commented on the stock. Macquarie upped their target price on shares of Spotify Technology from $600.00 to $665.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Rosenblatt Securities reduced their target price on shares of Spotify Technology from $658.00 to $657.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. UBS Group reaffirmed an "overweight" rating on shares of Spotify Technology in a report on Friday, June 6th. Guggenheim reaffirmed a "buy" rating on shares of Spotify Technology in a report on Friday, June 6th. Finally, FBN Securities assumed coverage on shares of Spotify Technology in a report on Friday, March 28th. They set a "sector perform" rating and a $645.00 target price for the company. Eight research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $611.14.
Check Out Our Latest Research Report on SPOT
About Spotify Technology
(
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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