Greenbrier Partners Capital Management LLC Trims Holdings in Spotify Technology S.A. (NYSE:SPOT)

Greenbrier Partners Capital Management LLC reduced its holdings in Spotify Technology S.A. (NYSE:SPOT) by 0.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,623 shares of the company’s stock after selling 47 shares during the quarter. Spotify Technology accounts for about 1.0% of Greenbrier Partners Capital Management LLC’s investment portfolio, making the stock its 13th largest position. Greenbrier Partners Capital Management LLC’s holdings in Spotify Technology were worth $13,128,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Transcendent Capital Group LLC bought a new stake in shares of Spotify Technology during the second quarter valued at approximately $25,000. Benjamin Edwards Inc. increased 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 worth $27,000 after acquiring an additional 58 shares in the last quarter. Mather Group LLC. increased its stake in shares of Spotify Technology by 9,900.0% in the 2nd 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. Asset Dedication LLC purchased a new position in Spotify Technology during the 2nd quarter valued at about $35,000. Finally, Larson Financial Group LLC boosted its stake in Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after acquiring an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Down 0.3 %

Shares of NYSE:SPOT opened at $475.24 on Friday. Spotify Technology S.A. has a 12-month low of $179.66 and a 12-month high of $489.69. The company has a market cap of $94.60 billion, a PE ratio of 129.14 and a beta of 1.56. The stock has a 50 day moving average of $402.06 and a 200 day moving average of $348.93.

Spotify Technology (NYSE:SPOT) last posted 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 firm had revenue of $3.99 billion during 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 business’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 earnings per share. Equities research analysts predict that Spotify Technology S.A. will post 6.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on SPOT shares. Benchmark raised 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. Canaccord Genuity Group raised their price objective on Spotify Technology from $475.00 to $525.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Macquarie boosted their target price on Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Barclays increased their target price on Spotify Technology from $385.00 to $475.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $421.69.

About Spotify Technology

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.