Interval Partners LP Trims Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Interval Partners LP lowered its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 26.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,350 shares of the company's stock after selling 14,365 shares during the period. Interval Partners LP's holdings in Spotify Technology were worth $18,052,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Auxano Advisors LLC lifted its holdings in Spotify Technology by 2.5% in the fourth quarter. Auxano Advisors LLC now owns 828 shares of the company's stock valued at $370,000 after acquiring an additional 20 shares during the period. SRS Capital Advisors Inc. increased its holdings in shares of Spotify Technology by 4.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock valued at $256,000 after purchasing an additional 25 shares in the last quarter. Covenant Partners LLC increased its holdings in shares of Spotify Technology by 2.5% during the 4th quarter. Covenant Partners LLC now owns 1,024 shares of the company's stock valued at $458,000 after purchasing an additional 25 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Spotify Technology by 5.4% in the 4th quarter. First Horizon Advisors Inc. now owns 504 shares of the company's stock valued at $225,000 after purchasing an additional 26 shares during the period. Finally, Harbour Investments Inc. boosted its holdings in Spotify Technology by 13.3% during the fourth quarter. Harbour Investments Inc. now owns 222 shares of the company's stock worth $99,000 after buying an additional 26 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Performance

Shares of SPOT stock traded up $6.20 during trading hours on Wednesday, reaching $626.27. The company had a trading volume of 2,292,195 shares, compared to its average volume of 2,190,412. Spotify Technology S.A. has a 12-month low of $288.07 and a 12-month high of $663.55. The company has a market capitalization of $128.20 billion, a price-to-earnings ratio of 105.26 and a beta of 1.72. The stock has a fifty day moving average of $579.61 and a 200-day moving average of $528.93.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 earnings per share for the quarter, missing analysts' consensus estimates of $2.29 by ($1.16). The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The business's quarterly revenue was up 15.2% on a year-over-year basis. During the same period last year, the firm posted $0.97 EPS. On average, analysts forecast that Spotify Technology S.A. will post 10.3 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SPOT shares. FBN Securities started coverage on shares of Spotify Technology in a report on Friday, March 28th. They issued a "sector perform" rating and a $645.00 price objective for the company. Barclays cut their price target on Spotify Technology from $710.00 to $650.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Phillip Securities upgraded Spotify Technology to a "moderate sell" rating in a research report on Monday, May 5th. Citigroup boosted their price objective on Spotify Technology from $540.00 to $720.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Finally, Morgan Stanley increased their target price on Spotify Technology from $550.00 to $670.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $606.48.

About Spotify Technology

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.