Graham Capital Management L.P. lowered its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 53.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,500 shares of the company's stock after selling 3,998 shares during the quarter. Graham Capital Management L.P.'s holdings in Spotify Technology were worth $1,566,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in Spotify Technology by 11.8% in the third quarter. Principal Financial Group Inc. now owns 39,578 shares of the company's stock worth $14,586,000 after purchasing an additional 4,192 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of Spotify Technology by 2.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,398 shares of the company's stock valued at $625,000 after buying an additional 33 shares in the last quarter. Aprio Wealth Management LLC acquired a new position in shares of Spotify Technology in the 4th quarter valued at $338,000. Matrix Trust Co acquired a new stake in shares of Spotify Technology during the 4th quarter valued at about $150,000. Finally, City Center Advisors LLC acquired a new stake in shares of Spotify Technology during the 4th quarter valued at about $374,000. Institutional investors own 84.09% of the company's stock.
Spotify Technology Trading Up 2.5%
Shares of Spotify Technology stock traded up $15.84 during midday trading on Friday, reaching $656.02. The company had a trading volume of 2,222,366 shares, compared to its average volume of 2,197,081. The company has a market capitalization of $134.29 billion, a price-to-earnings ratio of 110.26 and a beta of 1.72. The stock has a fifty day simple moving average of $585.62 and a 200 day simple moving average of $534.52. Spotify Technology S.A. has a 1-year low of $288.07 and a 1-year high of $663.55.
Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $4.22 billion. Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. The business's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.97 EPS. Sell-side analysts expect that Spotify Technology S.A. will post 10.3 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the stock. Cantor Fitzgerald dropped their price target on shares of Spotify Technology from $600.00 to $520.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Robert W. Baird raised their price target on shares of Spotify Technology from $700.00 to $730.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. FBN Securities started coverage on shares of Spotify Technology in a research note on Friday, March 28th. They set a "sector perform" rating and a $645.00 price target for the company. Rosenblatt Securities cut their price target on shares of Spotify Technology from $658.00 to $657.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Finally, Barclays cut their price target on shares of Spotify Technology from $710.00 to $650.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Eight equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $606.48.
Read Our Latest Research Report on SPOT
Spotify Technology Profile
(
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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