Spotify Technology S.A. (NYSE:SPOT) Holdings Cut by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft cut its stake in Spotify Technology S.A. (NYSE:SPOT) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,185 shares of the company’s stock after selling 251 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Spotify Technology were worth $1,872,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Swedbank AB increased its holdings in shares of Spotify Technology by 20.9% during the 4th quarter. Swedbank AB now owns 946,129 shares of the company’s stock valued at $423,279,000 after acquiring an additional 163,626 shares during the last quarter. Hantz Financial Services Inc. acquired a new position in Spotify Technology during the fourth quarter valued at approximately $1,556,000. Forsta AP Fonden acquired a new stake in shares of Spotify Technology in the fourth quarter worth $619,600,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Spotify Technology by 33.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 281,528 shares of the company’s stock worth $125,950,000 after buying an additional 70,727 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC acquired a new position in Spotify Technology in the 4th quarter valued at $214,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Rosenblatt Securities lifted their price target on Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. boosted their target price on Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Macquarie boosted their target price on shares of Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Pivotal Research lifted their price objective on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, TD Cowen raised their price target on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $446.21.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $540.11 on Thursday. The stock has a market cap of $107.51 billion, a price-to-earnings ratio of 146.77 and a beta of 1.62. Spotify Technology S.A. has a 52-week low of $213.31 and a 52-week high of $543.86. The firm’s 50-day moving average is $476.28 and its 200-day moving average is $400.01.

Spotify Technology (NYSE:SPOT) last issued 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 the consensus estimate of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The company’s revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 EPS. Sell-side analysts predict that Spotify Technology S.A. will post 5.91 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.