Spotify Technology S.A. (NYSE:SPOT) is Perpetual Ltd’s 4th Largest Position

Perpetual Ltd lowered its position in Spotify Technology S.A. (NYSE:SPOT) by 32.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 510,020 shares of the company’s stock after selling 249,661 shares during the quarter. Spotify Technology accounts for approximately 2.7% of Perpetual Ltd’s holdings, making the stock its 4th biggest holding. Perpetual Ltd owned about 0.26% of Spotify Technology worth $228,173,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. WCM Investment Management LLC raised its stake in Spotify Technology by 18.5% during the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after buying an additional 605,755 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Spotify Technology by 3.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock valued at $1,286,969,000 after acquiring an additional 102,786 shares in the last quarter. State Street Corp lifted its stake in Spotify Technology by 1.5% during the third quarter. State Street Corp now owns 1,997,323 shares of the company’s stock worth $736,073,000 after purchasing an additional 28,864 shares during the last quarter. FMR LLC boosted its holdings in Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after purchasing an additional 297,035 shares during the period. Finally, Two Sigma Advisers LP raised its holdings in shares of Spotify Technology by 19.0% during the third quarter. Two Sigma Advisers LP now owns 980,000 shares of the company’s stock worth $361,159,000 after purchasing an additional 156,300 shares during the period. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Down 0.9 %

Shares of Spotify Technology stock opened at $486.07 on Tuesday. The stock has a 50-day moving average price of $468.82 and a 200 day moving average price of $390.44. The company has a market cap of $96.75 billion, a P/E ratio of 132.08 and a beta of 1.62. Spotify Technology S.A. has a 1 year low of $200.81 and a 1 year high of $506.47.

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 firm had revenue of $3.99 billion for the quarter, compared to analyst estimates 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 period in the previous year, the business posted $0.36 EPS. On average, equities analysts forecast that Spotify Technology S.A. will post 5.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on SPOT shares. UBS Group increased their price target on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Cantor Fitzgerald restated a “neutral” rating and set a $340.00 price target on shares of Spotify Technology in a research report on Monday, October 7th. KeyCorp boosted their target price on shares of Spotify Technology from $520.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Wolfe Research restated a “peer perform” rating on shares of Spotify Technology in a research note on Friday. Finally, The Goldman Sachs Group lifted their price target on Spotify Technology from $490.00 to $550.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $441.21.

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.