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

West Bancorporation Inc. cut its position in Spotify Technology S.A. (NYSE:SPOT) by 3.4% in the 4th quarter, according to its most recent disclosure with the SEC. 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its position in shares of Spotify Technology by 5.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,892 shares of the company’s stock valued at $594,000 after buying an additional 94 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Spotify Technology by 33.1% in the second quarter. Mackenzie Financial Corp now owns 3,056 shares of the company’s stock worth $959,000 after purchasing an additional 760 shares during the period. Algert Global LLC boosted its position in shares of Spotify Technology by 46.8% in the second quarter. Algert Global LLC now owns 1,494 shares of the company’s stock worth $469,000 after purchasing an additional 476 shares during the period. Creative Planning increased its stake in shares of Spotify Technology by 7.4% in the second quarter. Creative Planning now owns 6,233 shares of the company’s stock worth $1,956,000 after purchasing an additional 429 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of Spotify Technology by 62.0% during the 2nd quarter. NewEdge Advisors LLC now owns 5,664 shares of the company’s stock valued at $1,777,000 after buying an additional 2,167 shares in the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Trading Down 0.2 %

Shares of NYSE SPOT opened at $549.02 on Friday. The business has a fifty day simple moving average of $479.23 and a 200 day simple moving average of $402.03. The firm has a market capitalization of $109.28 billion, a price-to-earnings ratio of 149.19 and a beta of 1.62. Spotify Technology S.A. has a one year low of $213.31 and a one year high of $560.36.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. Spotify Technology’s revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. On average, research analysts anticipate that Spotify Technology S.A. will post 5.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on SPOT. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $480.00 price objective (down previously from $490.00) on shares of Spotify Technology in a research note on Tuesday. Rosenblatt Securities increased their price objective on shares of Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Wolfe Research reissued a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. Benchmark reaffirmed a “buy” rating and set a $520.00 target price on shares of Spotify Technology in a research note on Thursday, January 16th. Finally, Phillip Securities reiterated an “accumulate” rating and issued a $485.00 price target (up previously from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. One 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $451.39.

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.