Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Choreo LLC

Choreo LLC lowered its stake in Spotify Technology S.A. (NYSE:SPOT) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,251 shares of the company’s stock after selling 137 shares during the quarter. Choreo LLC’s holdings in Spotify Technology were worth $3,275,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SPOT. The Manufacturers Life Insurance Company lifted its holdings in Spotify Technology by 5.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,892 shares of the company’s stock worth $594,000 after purchasing an additional 94 shares during the period. GAMMA Investing LLC lifted its holdings in Spotify Technology by 35.9% in the 3rd quarter. GAMMA Investing LLC now owns 677 shares of the company’s stock valued at $249,000 after acquiring an additional 179 shares during the last quarter. Miracle Mile Advisors LLC acquired a new stake in Spotify Technology in the 3rd quarter valued at about $242,000. Dynamic Advisor Solutions LLC lifted its holdings in Spotify Technology by 1.9% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 2,526 shares of the company’s stock valued at $931,000 after acquiring an additional 47 shares during the last quarter. Finally, Atomi Financial Group Inc. lifted its holdings in Spotify Technology by 23.3% in the 3rd quarter. Atomi Financial Group Inc. now owns 1,571 shares of the company’s stock valued at $579,000 after acquiring an additional 297 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SPOT shares. Piper Sandler upped their price target on shares of Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Phillip Securities reissued an “accumulate” rating and issued a $485.00 price target (up from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. Macquarie upped their price target on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Pivotal Research upped their price target on shares of Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, TD Cowen boosted their price objective on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, Spotify Technology presently has an average rating of “Moderate Buy” and an average price target of $514.79.

Spotify Technology Stock Down 0.1 %

SPOT stock opened at $625.67 on Friday. Spotify Technology S.A. has a 12-month low of $227.52 and a 12-month high of $630.77. The company has a market cap of $124.54 billion, a price-to-earnings ratio of 170.02 and a beta of 1.63. The company has a 50 day moving average of $488.02 and a two-hundred day moving average of $410.89.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 EPS. On average, research analysts anticipate that Spotify Technology S.A. will post 5.91 EPS for the current 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.