Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. decreased its holdings in Spotify Technology S.A. (NYSE:SPOT) by 38.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,374 shares of the company’s stock after selling 850 shares during the period. Lecap Asset Management Ltd.’s holdings in Spotify Technology were worth $615,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. First Horizon Advisors Inc. increased its holdings in shares of 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 purchasing an additional 26 shares during the last quarter. West Bancorporation Inc. lifted its position in Spotify Technology by 3.4% in the third quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock valued at $305,000 after buying an additional 27 shares during the last quarter. Avior Wealth Management LLC boosted its position in shares of Spotify Technology by 12.0% during the 3rd quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock worth $104,000 after purchasing an additional 30 shares during the period. Park National Corp OH boosted its position in shares of Spotify Technology by 4.1% during the fourth quarter. Park National Corp OH now owns 793 shares of the company’s stock worth $355,000 after buying an additional 31 shares during the period. Finally, Washington Trust Advisors Inc. boosted its holdings in Spotify Technology by 12.0% during the 3rd quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock valued at $110,000 after acquiring an additional 32 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

Shares of NYSE:SPOT opened at $623.54 on Friday. Spotify Technology S.A. has a one year low of $228.07 and a one year high of $632.45. The stock has a market capitalization of $124.12 billion, a price-to-earnings ratio of 104.80 and a beta of 1.63. The company has a 50-day simple moving average of $491.03 and a 200-day simple moving average of $412.38.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data 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 net margin of 7.26% and a return on equity of 25.56%. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the prior year, the company earned $0.36 earnings per share. The firm’s revenue was up 18.8% on a year-over-year basis. As a group, research analysts forecast that Spotify Technology S.A. will post 9.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SPOT shares. Macquarie boosted their price target on shares of Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Morgan Stanley boosted their target price on Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wolfe Research reiterated a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Canaccord Genuity Group boosted their price objective on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, TD Cowen lifted their price target on shares of Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $514.79.

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.