Nisa Investment Advisors LLC Has $9.07 Million Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Nisa Investment Advisors LLC cut its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 76.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,914 shares of the company’s stock after selling 94,516 shares during the period. Nisa Investment Advisors LLC’s holdings in Spotify Technology were worth $9,073,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of SPOT. Larson Financial Group LLC raised its position in shares of Spotify Technology by 86.0% in the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after buying an additional 43 shares in the last quarter. Mather Group LLC. increased its position in Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after acquiring an additional 99 shares during the period. GAMMA Investing LLC acquired a new position in Spotify Technology in the 4th quarter valued at approximately $32,000. FinTrust Capital Advisors LLC increased its position in Spotify Technology by 400.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock valued at $33,000 after acquiring an additional 100 shares during the period. Finally, Lindbrook Capital LLC increased its position in Spotify Technology by 32.3% in the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock valued at $39,000 after acquiring an additional 50 shares during the period. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Up 2.2 %

SPOT stock traded up $7.31 during midday trading on Monday, reaching $344.69. The company’s stock had a trading volume of 1,780,845 shares, compared to its average volume of 1,988,964. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a fifty day simple moving average of $318.07 and a two-hundred day simple moving average of $291.27. Spotify Technology S.A. has a 1 year low of $130.00 and a 1 year high of $359.38. The firm has a market capitalization of $68.61 billion, a price-to-earnings ratio of -503.54 and a beta of 1.59.

Spotify Technology (NYSE:SPOT) last announced 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. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.82 billion. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter last year, the firm posted ($1.69) earnings per share. On average, equities research analysts predict that Spotify Technology S.A. will post 6.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SPOT shares. Benchmark reissued a “buy” rating and set a $405.00 target price on shares of Spotify Technology in a research note on Monday, July 22nd. DZ Bank upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 target price for the company in a report on Wednesday, July 24th. Loop Capital increased their target price on shares of Spotify Technology from $165.00 to $250.00 and gave the company a “hold” rating in a report on Monday, April 22nd. Canaccord Genuity Group raised their price objective on shares of Spotify Technology from $315.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, Barclays raised their price objective on shares of Spotify Technology from $350.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. One 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $353.15.

About Spotify Technology

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.