Bayesian Capital Management LP Sells 14,567 Shares of Spotify Technology S.A. (NYSE:SPOT)

Bayesian Capital Management LP lowered its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 87.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,100 shares of the company's stock after selling 14,567 shares during the quarter. Bayesian Capital Management LP's holdings in Spotify Technology were worth $939,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in SPOT. Hillsdale Investment Management Inc. purchased a new position in Spotify Technology during the 4th quarter worth $27,000. Quent Capital LLC grew its position in Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock valued at $44,000 after buying an additional 57 shares during the last quarter. Noble Wealth Management PBC acquired a new stake in shares of Spotify Technology in the 4th quarter worth $52,000. Strategic Financial Concepts LLC purchased a new position in Spotify Technology during the fourth quarter worth about $56,000. Finally, Larson Financial Group LLC increased its position in Spotify Technology by 48.5% during the 4th quarter. Larson Financial Group LLC now owns 144 shares of the company's stock worth $64,000 after purchasing an additional 47 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 commented on SPOT shares. Guggenheim reissued a "buy" rating and issued a $675.00 price objective on shares of Spotify Technology in a research note on Monday, February 24th. Benchmark boosted their price objective on Spotify Technology from $600.00 to $720.00 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. 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. KeyCorp reduced their price objective on Spotify Technology from $675.00 to $625.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Finally, The Goldman Sachs Group boosted their price objective on Spotify Technology from $550.00 to $695.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Eight 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, Spotify Technology currently has a consensus rating of "Moderate Buy" and an average price target of $604.76.

Spotify Technology Stock Down 1.0 %

NYSE:SPOT traded down $6.29 on Friday, hitting $648.97. The stock had a trading volume of 1,210,728 shares, compared to its average volume of 2,172,595. The company has a market cap of $132.85 billion, a PE ratio of 109.07 and a beta of 1.72. The business's fifty day moving average is $575.47 and its 200 day moving average is $524.89. Spotify Technology S.A. has a 52 week low of $286.21 and a 52 week high of $663.55.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly 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 during 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 business's revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.97 EPS. Equities analysts predict that Spotify Technology S.A. will post 10.3 earnings per share for the current fiscal year.

Spotify Technology 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.