Baader Bank Aktiengesellschaft Sells 251 Shares of Spotify Technology S.A. (NYSE:SPOT)

Baader Bank Aktiengesellschaft decreased its holdings in Spotify Technology S.A. (NYSE:SPOT) by 5.7% during the 4th quarter, HoldingsChannel reports. The firm owned 4,185 shares of the company’s stock after selling 251 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Spotify Technology were worth $1,872,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Thrivent Financial for Lutherans boosted its stake in shares of Spotify Technology by 7.4% during the second quarter. Thrivent Financial for Lutherans now owns 5,654 shares of the company’s stock valued at $1,774,000 after purchasing an additional 391 shares in the last quarter. Point72 DIFC Ltd boosted its holdings in shares of Spotify Technology by 918.2% during the 2nd quarter. Point72 DIFC Ltd now owns 93,403 shares of the company’s stock worth $29,309,000 after buying an additional 84,230 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Spotify Technology by 5.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,892 shares of the company’s stock valued at $594,000 after acquiring an additional 94 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Spotify Technology by 33.1% during the 2nd quarter. Mackenzie Financial Corp now owns 3,056 shares of the company’s stock valued at $959,000 after acquiring an additional 760 shares during the period. Finally, Algert Global LLC boosted its stake in Spotify Technology by 46.8% during the second quarter. Algert Global LLC now owns 1,494 shares of the company’s stock worth $469,000 after acquiring an additional 476 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Trading Up 1.8 %

Shares of Spotify Technology stock opened at $540.11 on Thursday. The stock’s fifty day moving average price is $476.28 and its 200-day moving average price is $400.01. The firm has a market cap of $107.51 billion, a P/E ratio of 146.77 and a beta of 1.62. Spotify Technology S.A. has a 12 month low of $213.31 and a 12 month high of $543.86.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). The business 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%. Spotify Technology’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.36 earnings per share. Analysts forecast that Spotify Technology S.A. will post 5.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SPOT shares. Barclays boosted their price objective on Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price objective on Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Pivotal Research lifted their target price on Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. TD Cowen increased their price target 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 raised their price target on shares of Spotify Technology from $520.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, Spotify Technology presently has an average rating of “Moderate Buy” and a consensus price target of $446.21.

Spotify Technology 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.