Spotify Technology $SPOT Stock Holdings Decreased by Schroder Investment Management Group

Key Points

• Schroder Investment Management trimmed its Spotify stake by 3.9% in Q3 (sold 57,662 shares) and now holds 1,439,479 shares—about 0.70% of the company and valued at roughly $1.005 billion; overall institutional ownership in Spotify is 84.09%.
• Analysts maintain a consensus rating of “Moderate Buy” with a $698.91 average price target, despite mixed individual moves (Arete upgraded to Buy, Benchmark cut its target, Barclays raised its target to $650).
• Spotify reported a strong quarter—EPS $5.16 vs. $3.16 expected and revenue $5.32B vs. $5.14B expected (revenue +6.8% YoY)—and the stock was trading around $566.73 with a market cap near $116.7 billion.

Schroder Investment Management Group lessened its position in Spotify Technology (NYSE:SPOT - Free Report) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,439,479 shares of the company's stock after selling 57,662 shares during the quarter. Spotify Technology makes up about 0.8% of Schroder Investment Management Group's holdings, making the stock its 19th biggest holding. Schroder Investment Management Group owned 0.70% of Spotify Technology worth $1,004,756,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Knuff & Co LLC bought a new stake in Spotify Technology during the second quarter valued at about $27,000. Total Investment Management Inc. bought a new position in shares of Spotify Technology in the second quarter worth about $29,000. Heartwood Wealth Advisors LLC acquired a new position in shares of Spotify Technology during the 3rd quarter worth about $27,000. Greykasell Wealth Strategies Inc. boosted its stake in Spotify Technology by 3,800.0% during the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 39 shares of the company's stock valued at $27,000 after purchasing an additional 38 shares during the period. Finally, Westfuller Advisors LLC acquired a new stake in Spotify Technology in the 3rd quarter valued at approximately $29,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Arete Research raised Spotify Technology from a "neutral" rating to a "buy" rating and set a $586.00 price objective for the company in a research report on Thursday, February 26th. Benchmark cut their target price on shares of Spotify Technology from $860.00 to $760.00 and set a "buy" rating for the company in a research note on Friday, January 16th. Barclays increased their price target on shares of Spotify Technology from $625.00 to $650.00 and gave the company an "overweight" rating in a report on Wednesday, February 11th. Phillip Securities raised shares of Spotify Technology from a "hold" rating to a "moderate buy" rating in a research report on Monday, November 10th. Finally, Moffett Nathanson began coverage on Spotify Technology in a research report on Tuesday, January 27th. They set a "neutral" rating and a $487.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $698.91.

Spotify Technology Trading Up 2.6%

SPOT stock opened at $566.73 on Monday. Spotify Technology has a 1-year low of $405.00 and a 1-year high of $785.00. The business's 50 day moving average is $507.95 and its 200-day moving average is $600.68. The firm has a market cap of $116.68 billion, a P/E ratio of 58.79, a P/E/G ratio of 1.23 and a beta of 1.66.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $3.16 by $2.00. Spotify Technology had a return on equity of 31.35% and a net margin of 13.16%.The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the firm earned $1.88 EPS. Spotify Technology's quarterly revenue was up 6.8% on a year-over-year basis. Sell-side analysts forecast that Spotify Technology will post 10.3 EPS for the current year.

Spotify Technology Profile

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.

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