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

Ewa LLC decreased its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 29.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 585 shares of the company’s stock after selling 244 shares during the quarter. Ewa LLC’s holdings in Spotify Technology were worth $216,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. raised its holdings in Spotify Technology by 5.8% in the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock valued at $176,000 after acquiring an additional 26 shares in the last quarter. West Bancorporation Inc. increased its position in shares of Spotify Technology by 3.4% in the 3rd quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock valued at $305,000 after purchasing an additional 27 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of Spotify Technology by 12.0% in the 3rd quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock valued at $104,000 after purchasing an additional 30 shares in the last quarter. Washington Trust Advisors Inc. lifted its position in shares of Spotify Technology by 12.0% during the 3rd quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock worth $110,000 after purchasing an additional 32 shares during the last quarter. Finally, Rakuten Securities Inc. grew its stake 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 purchasing an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Up 1.0 %

Shares of SPOT stock opened at $498.63 on Monday. Spotify Technology S.A. has a 12-month low of $185.37 and a 12-month high of $506.47. The company has a market cap of $99.25 billion, a price-to-earnings ratio of 135.50 and a beta of 1.61. The stock has a 50 day simple moving average of $416.02 and a 200-day simple moving average of $357.72.

Spotify Technology (NYSE:SPOT) last issued 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 company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Spotify Technology’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, equities analysts forecast that Spotify Technology S.A. will post 6.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wells Fargo & Company lifted their price target on Spotify Technology from $470.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. TD Cowen boosted their target price on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. Benchmark increased their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Evercore ISI boosted their price objective on shares of Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Rosenblatt Securities increased their target price on shares of Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $429.96.

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.