Moody Lynn & Lieberson LLC Reduces Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Moody Lynn & Lieberson LLC reduced its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 1.2% in the fourth quarter, HoldingsChannel reports. The firm owned 6,763 shares of the company’s stock after selling 80 shares during the quarter. Moody Lynn & Lieberson LLC’s holdings in Spotify Technology were worth $3,026,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SPOT. Geneos Wealth Management Inc. raised its holdings in Spotify Technology by 17.2% in the 4th quarter. Geneos Wealth Management Inc. now owns 396 shares of the company’s stock worth $177,000 after purchasing an additional 58 shares during the period. Dynamic Advisor Solutions LLC raised its stake in shares of Spotify Technology by 4.9% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 2,650 shares of the company’s stock worth $1,185,000 after buying an additional 124 shares during the period. Fifth Third Bancorp raised its stake in shares of Spotify Technology by 44.4% in the fourth quarter. Fifth Third Bancorp now owns 231 shares of the company’s stock worth $103,000 after buying an additional 71 shares during the period. Zweig DiMenna Associates LLC lifted its position in shares of Spotify Technology by 646.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 29,850 shares of the company’s stock valued at $13,354,000 after buying an additional 25,850 shares in the last quarter. Finally, Berbice Capital Management LLC bought a new position in shares of Spotify Technology during the 4th quarter valued at approximately $174,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

NYSE SPOT opened at $511.19 on Friday. The business’s 50 day moving average price is $473.74 and its 200-day moving average price is $395.66. Spotify Technology S.A. has a fifty-two week low of $210.34 and a fifty-two week high of $512.01. The company has a market cap of $101.75 billion, a P/E ratio of 138.91 and a beta of 1.62.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data 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 firm 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 company’s revenue was up 18.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 EPS. As a group, equities analysts predict that Spotify Technology S.A. will post 5.91 EPS for the current year.

Analyst Upgrades and Downgrades

SPOT has been the topic of several analyst reports. Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. JPMorgan Chase & Co. upped their target price on shares of Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Piper Sandler increased their price target on Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. TD Cowen boosted their price objective on Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. Finally, KeyCorp increased their target price on Spotify Technology from $520.00 to $555.00 and gave the stock an “overweight” rating in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and an average target price of $441.21.

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.