Spotify Technology S.A. (NYSE:SPOT) Position Reduced by Robotti Robert

Robotti Robert lessened its stake in Spotify Technology S.A. (NYSE:SPOT) by 3.4% during the first quarter, HoldingsChannel.com reports. The firm owned 28,000 shares of the company’s stock after selling 1,000 shares during the period. Spotify Technology makes up approximately 1.0% of Robotti Robert’s holdings, making the stock its 19th biggest holding. Robotti Robert’s holdings in Spotify Technology were worth $7,389,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Evoke Wealth LLC bought a new position in Spotify Technology during the 4th quarter worth $2,271,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Spotify Technology by 30.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 79,667 shares of the company’s stock valued at $21,024,000 after purchasing an additional 18,731 shares during the period. Franklin Resources Inc. grew its position in Spotify Technology by 1,500.5% in the 4th quarter. Franklin Resources Inc. now owns 70,151 shares of the company’s stock worth $13,182,000 after purchasing an additional 65,768 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Spotify Technology by 2.4% in the first quarter. TD Asset Management Inc now owns 512,841 shares of the company’s stock valued at $135,339,000 after purchasing an additional 12,192 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Spotify Technology by 327.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 391,253 shares of the company’s stock worth $73,520,000 after buying an additional 299,700 shares during the period. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Up 0.6 %

SPOT stock traded up $1.88 during trading hours on Monday, hitting $323.76. The company’s stock had a trading volume of 1,736,377 shares, compared to its average volume of 1,996,684. Spotify Technology S.A. has a 12 month low of $129.23 and a 12 month high of $346.23. The stock has a 50 day moving average price of $311.19 and a two-hundred day moving average price of $278.91. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $64.44 billion, a PE ratio of -483.22 and a beta of 1.59.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.08 by $0.25. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the prior year, the firm posted ($1.69) EPS. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, equities research analysts expect that Spotify Technology S.A. will post 5.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SPOT shares. Bank of America boosted their price target on Spotify Technology from $370.00 to $380.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Spotify Technology from $260.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Canaccord Genuity Group upped their price target on shares of Spotify Technology from $315.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. The Goldman Sachs Group raised Spotify Technology from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $320.00 to $425.00 in a report on Wednesday, July 24th. Finally, UBS Group lifted their price target on Spotify Technology from $375.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. One investment 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $353.15.

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.