Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Yeomans Consulting Group Inc.

Yeomans Consulting Group Inc. reduced its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 17.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 734 shares of the company’s stock after selling 151 shares during the period. Yeomans Consulting Group Inc.’s holdings in Spotify Technology were worth $328,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC acquired a new stake in shares of Spotify Technology in the third quarter valued at $26,000. Hobbs Group Advisors LLC purchased a new stake in Spotify Technology during the 3rd quarter worth about $33,000. Larson Financial Group LLC raised its position in Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after purchasing an additional 33 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Spotify Technology in the 3rd quarter valued at about $40,000. Finally, Rakuten Securities Inc. grew its position in shares of Spotify Technology by 40.5% during the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after buying an additional 32 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Price Performance

Spotify Technology stock opened at $500.85 on Friday. The business has a 50 day simple moving average of $472.22 and a 200-day simple moving average of $393.55. Spotify Technology S.A. has a 12 month low of $209.18 and a 12 month high of $510.84. The stock has a market capitalization of $99.69 billion, a PE ratio of 136.10 and a beta of 1.62.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Macquarie raised their target price on shares of Spotify Technology from $395.00 to $500.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Rosenblatt Securities lifted their price objective on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. increased their target price on Spotify Technology from $425.00 to $530.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Pivotal Research lifted their price target on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Canaccord Genuity Group increased their price objective on Spotify Technology from $525.00 to $560.00 and gave the company a “buy” rating in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $441.21.

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.