UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $75.44 Million Stock Position in Spotify Technology S.A. (NYSE:SPOT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in Spotify Technology S.A. (NYSE:SPOT) by 23.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 204,698 shares of the company’s stock after selling 61,838 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.10% of Spotify Technology worth $75,437,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. WCM Investment Management LLC boosted its position in Spotify Technology by 18.5% during the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after purchasing an additional 605,755 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Spotify Technology by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock valued at $1,286,969,000 after buying an additional 102,786 shares during the last quarter. FMR LLC raised its holdings in Spotify Technology by 23.4% in the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after acquiring an additional 297,035 shares during the period. Swedbank AB lifted its position in Spotify Technology by 13.2% during the second quarter. Swedbank AB now owns 852,526 shares of the company’s stock worth $267,514,000 after acquiring an additional 99,730 shares during the last quarter. Finally, Perpetual Ltd boosted its holdings in shares of Spotify Technology by 24.3% during the third quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock worth $279,965,000 after acquiring an additional 148,431 shares during the period. Institutional investors own 84.09% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Canaccord Genuity Group lifted their price target on Spotify Technology from $525.00 to $560.00 and gave the stock a “buy” rating in a report on Monday. Barclays boosted their target price on shares of Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group upped their price target on shares of Spotify Technology from $430.00 to $490.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Pivotal Research lifted their price objective on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Rosenblatt Securities increased their target price 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Spotify Technology has a consensus rating of “Moderate Buy” and an average target price of $422.90.

Spotify Technology Price Performance

Spotify Technology stock opened at $480.26 on Tuesday. The business has a 50 day moving average of $404.30 and a 200-day moving average of $350.99. Spotify Technology S.A. has a 1 year low of $185.37 and a 1 year high of $489.69. The company has a market capitalization of $95.60 billion, a P/E ratio of 130.51 and a beta of 1.56.

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