Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP cut its stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 33.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,820 shares of the company's stock after selling 16,737 shares during the period. Hudson Bay Capital Management LP's holdings in Spotify Technology were worth $15,130,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SPOT. Principal Financial Group Inc. raised its holdings in shares of Spotify Technology by 11.8% in the 3rd quarter. Principal Financial Group Inc. now owns 39,578 shares of the company's stock valued at $14,586,000 after buying an additional 4,192 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of Spotify Technology by 2.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,398 shares of the company's stock valued at $625,000 after purchasing an additional 33 shares during the period. Aprio Wealth Management LLC acquired a new position in shares of Spotify Technology in the fourth quarter valued at approximately $338,000. Matrix Trust Co purchased a new stake in Spotify Technology during the 4th quarter worth approximately $150,000. Finally, City Center Advisors LLC acquired a new stake in Spotify Technology during the 4th quarter worth approximately $374,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. FBN Securities began coverage on Spotify Technology in a research note on Friday, March 28th. They issued a "sector perform" rating and a $645.00 price objective on the stock. Canaccord Genuity Group upped their target price on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. China Renaissance started coverage on shares of Spotify Technology in a report on Wednesday, March 26th. They issued a "buy" rating and a $740.00 target price on the stock. Redburn Atlantic began coverage on shares of Spotify Technology in a research report on Tuesday, March 11th. They issued a "neutral" rating and a $545.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Spotify Technology from $640.00 to $670.00 and gave the stock an "overweight" rating in a research report 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 MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $604.76.

Spotify Technology Trading Down 1.0 %

Shares of SPOT stock opened at $648.97 on Friday. The company has a market capitalization of $132.85 billion, a P/E ratio of 109.07 and a beta of 1.72. The business's 50 day moving average is $575.47 and its two-hundred day moving average is $524.89. Spotify Technology S.A. has a twelve month low of $286.21 and a twelve month high of $663.55.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($1.16). The firm 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 quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 earnings per share. As a group, equities analysts predict that Spotify Technology S.A. will post 10.3 earnings per share for the current fiscal 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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