Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP decreased its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 45.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 352,030 shares of the company's stock after selling 292,673 shares during the period. Two Sigma Investments LP owned 0.18% of Spotify Technology worth $157,491,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SPOT. Jennison Associates LLC acquired a new stake in shares of Spotify Technology in the fourth quarter valued at approximately $1,335,575,000. FMR LLC grew its holdings in Spotify Technology by 30.2% in the 4th quarter. FMR LLC now owns 2,041,387 shares of the company's stock worth $913,276,000 after buying an additional 473,569 shares in the last quarter. Schroder Investment Management Group raised its stake in Spotify Technology by 0.4% during the 4th quarter. Schroder Investment Management Group now owns 1,912,937 shares of the company's stock valued at $855,810,000 after acquiring an additional 7,075 shares in the last quarter. GQG Partners LLC acquired a new position in Spotify Technology during the 4th quarter worth $800,725,000. Finally, Geode Capital Management LLC boosted its position in Spotify Technology by 561.6% during the 4th quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock worth $659,841,000 after acquiring an additional 1,259,183 shares during the period. Institutional investors and hedge funds own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Loop Capital lifted their price objective on shares of Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. KeyCorp decreased their price objective on shares of Spotify Technology from $675.00 to $625.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Wolfe Research raised Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 target price on the stock in a report on Monday, April 21st. China Renaissance started coverage on Spotify Technology in a research report on Wednesday, March 26th. They set a "buy" rating and a $740.00 price target on the stock. Finally, Barclays dropped their price objective on Spotify Technology from $710.00 to $650.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Eight equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $606.48.

Spotify Technology Trading Up 2.5%

Shares of SPOT stock opened at $656.02 on Monday. The company has a market capitalization of $134.29 billion, a price-to-earnings ratio of 110.26 and a beta of 1.72. Spotify Technology S.A. has a 1-year low of $288.07 and a 1-year high of $663.55. The stock's fifty day simple moving average is $585.62 and its 200-day simple moving average is $534.52.

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 the consensus estimate 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 7.26% and a return on equity of 25.56%. The company's revenue was up 15.2% compared to the same quarter last year. During the same period last year, the firm earned $0.97 EPS. On average, sell-side analysts predict that Spotify Technology S.A. will post 10.3 EPS for the current year.

Spotify Technology Company 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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