D.A. Davidson & CO. Decreases Stake in Spotify Technology S.A. (NYSE:SPOT)

D.A. Davidson & CO. lessened its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 2.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,227 shares of the company’s stock after selling 280 shares during the quarter. D.A. Davidson & CO.’s holdings in Spotify Technology were worth $3,769,000 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. Aigen Investment Management LP raised its stake in shares of Spotify Technology by 42.4% during the 3rd quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock worth $3,612,000 after buying an additional 2,918 shares during the last quarter. Pathway Capital Management LP raised its stake in shares of Spotify Technology by 23.8% during the 3rd quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock worth $21,132,000 after buying an additional 11,042 shares during the last quarter. Perpetual Ltd raised its stake in shares of Spotify Technology by 24.3% during the 3rd quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock worth $279,965,000 after buying an additional 148,431 shares during the last quarter. Covenant Asset Management LLC acquired a new position in Spotify Technology in the 3rd quarter valued at about $3,364,000. Finally, Jag Capital Management LLC acquired a new position in Spotify Technology in the 3rd quarter valued at about $13,569,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

SPOT has been the subject of several analyst reports. Macquarie boosted their target price on shares of Spotify Technology from $395.00 to $500.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Bank of America boosted their target price on shares of Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Rosenblatt Securities boosted their target price on shares of Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Cantor Fitzgerald reissued a “neutral” rating and issued a $340.00 target price on shares of Spotify Technology in a research note on Monday, October 7th. Finally, Benchmark boosted their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and a consensus target price of $421.69.

Spotify Technology Stock Down 0.3 %

NYSE SPOT opened at $475.24 on Friday. The stock has a market cap of $94.60 billion, a PE ratio of 129.14 and a beta of 1.56. Spotify Technology S.A. has a fifty-two week low of $179.66 and a fifty-two week high of $489.69. The business has a 50 day moving average price of $402.06 and a two-hundred day moving average price of $348.93.

Spotify Technology (NYSE:SPOT) last released its quarterly 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 during the quarter, compared to analysts’ expectations of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The firm’s revenue was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 EPS. Sell-side analysts anticipate that Spotify Technology S.A. will post 6.02 EPS for the current fiscal year.

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.