West Bancorporation Inc. Trims Stock Position in Spotify Technology S.A. (NYSE:SPOT)

West Bancorporation Inc. cut its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 799 shares of the company’s stock after selling 28 shares during the period. West Bancorporation Inc.’s holdings in Spotify Technology were worth $357,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SPOT. WCM Investment Management LLC lifted its position in Spotify Technology by 18.5% in 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 purchasing an additional 605,755 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Spotify Technology by 3.0% in 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 buying an additional 102,786 shares during the period. State Street Corp grew its holdings 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 acquiring an additional 28,864 shares during the period. FMR LLC raised its position 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 acquiring an additional 297,035 shares in the last quarter. Finally, Forsta AP Fonden purchased a new position in Spotify Technology in the fourth quarter worth $619,600,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPOT has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on shares of Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. UBS Group upped their target price on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. KeyCorp raised their price target on shares of Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday. Bank of America increased their target price on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Pivotal Research increased their target price on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average price target of $451.39.

Spotify Technology Stock Down 0.2 %

Shares of Spotify Technology stock opened at $549.02 on Friday. The business has a 50 day moving average price of $479.23 and a 200-day moving average price of $402.03. Spotify Technology S.A. has a 52 week low of $213.31 and a 52 week high of $560.36. The company has a market cap of $109.28 billion, a PE ratio of 149.19 and a beta of 1.62.

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

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.