Capstone Investment Advisors LLC Sells 1,162 Shares of Spotify Technology S.A. (NYSE:SPOT)

Capstone Investment Advisors LLC cut its holdings in Spotify Technology S.A. (NYSE:SPOT) by 63.5% during the third quarter, HoldingsChannel reports. The firm owned 667 shares of the company’s stock after selling 1,162 shares during the period. Capstone Investment Advisors LLC’s holdings in Spotify Technology were worth $246,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of SPOT. Transcendent Capital Group LLC acquired a new position in shares of Spotify Technology in the 2nd quarter worth approximately $25,000. Benjamin Edwards Inc. lifted its stake in shares of Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Larson Financial Group LLC raised its position in shares of Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after acquiring an additional 33 shares during the period. Mather Group LLC. lifted its holdings in Spotify Technology by 9,900.0% during the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after acquiring an additional 99 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new position in Spotify Technology in the third quarter valued at approximately $40,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Stock Up 0.4 %

Shares of NYSE SPOT opened at $476.96 on Friday. The company has a market capitalization of $94.94 billion, a PE ratio of 129.61 and a beta of 1.56. The stock’s 50 day moving average price is $404.30 and its 200-day moving average price is $350.65. Spotify Technology S.A. has a twelve month low of $179.66 and a twelve month high of $489.69.

Spotify Technology (NYSE:SPOT) last issued 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). Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period last year, the firm posted $0.36 earnings per share. Spotify Technology’s quarterly revenue was up 18.8% compared to the same quarter last year. As a group, research analysts expect that Spotify Technology S.A. will post 6.02 EPS for the current fiscal year.

Analyst Ratings Changes

SPOT has been the subject of several recent analyst reports. Evercore ISI increased their price objective on Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $340.00 price target on shares of Spotify Technology in a research report on Monday, October 7th. Benchmark increased their target price on Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Phillip Securities restated an “accumulate” rating and set a $485.00 target price (up from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. Finally, KeyCorp lifted their price target on shares of Spotify Technology from $490.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. 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 stock. According to data from MarketBeat, Spotify Technology has an average rating of “Moderate Buy” and a consensus price target of $421.69.

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.