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

PDT Partners LLC lessened its stake in Spotify Technology S.A. (NYSE:SPOT) by 83.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,454 shares of the company’s stock after selling 21,717 shares during the quarter. PDT Partners LLC’s holdings in Spotify Technology were worth $1,641,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its holdings in shares of Spotify Technology by 95.2% during the 1st quarter. Cetera Investment Advisers now owns 13,332 shares of the company’s stock worth $3,518,000 after acquiring an additional 6,502 shares during the period. Cetera Advisors LLC boosted its holdings in Spotify Technology by 19.8% in the 1st quarter. Cetera Advisors LLC now owns 3,185 shares of the company’s stock valued at $840,000 after purchasing an additional 526 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Spotify Technology by 580.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 55,683 shares of the company’s stock valued at $14,376,000 after buying an additional 47,500 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Spotify Technology by 17.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 938 shares of the company’s stock worth $263,000 after buying an additional 137 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Spotify Technology by 49.1% in the second quarter. GAMMA Investing LLC now owns 498 shares of the company’s stock valued at $156,000 after acquiring an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $476.96 on Friday. The business has a 50-day moving average of $404.30 and a two-hundred day moving average of $350.65. The company has a market capitalization of $94.94 billion, a price-to-earnings ratio of 129.61 and a beta of 1.56. Spotify Technology S.A. has a 1 year low of $179.66 and a 1 year high of $489.69.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.30). The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. Spotify Technology’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 EPS. As a group, equities research analysts expect that Spotify Technology S.A. will post 6.02 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SPOT. KeyCorp raised their price objective on Spotify Technology from $490.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Morgan Stanley boosted their price target on shares of Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. upped their price objective 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. Evercore ISI lifted their target price on shares of Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Piper Sandler boosted their target price on Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $421.69.

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.