Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 13.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,070,982 shares of the company’s stock after selling 656,417 shares during the period. Wellington Management Group LLP’s holdings in Spotify Technology were worth $1,500,279,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SPOT. WCM Investment Management LLC boosted its stake in shares of Spotify Technology by 18.5% during the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after acquiring an additional 605,755 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Spotify Technology by 3.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock worth $1,286,969,000 after purchasing an additional 102,786 shares during the period. State Street Corp boosted its position in Spotify Technology by 1.5% during the 3rd quarter. State Street Corp now owns 1,997,323 shares of the company’s stock worth $736,073,000 after purchasing an additional 28,864 shares during the period. FMR LLC boosted its position in Spotify Technology by 23.4% during the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after purchasing an additional 297,035 shares during the period. Finally, Two Sigma Advisers LP boosted its position in Spotify Technology by 19.0% during the 3rd quarter. Two Sigma Advisers LP now owns 980,000 shares of the company’s stock worth $361,159,000 after purchasing an additional 156,300 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Ratings Changes

SPOT has been the topic of a number of recent analyst reports. Barclays upped their target price on shares of Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Benchmark increased their price objective on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Monday, November 11th. Rosenblatt Securities raised their target price on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Pivotal Research lifted their target price on shares of Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $422.90.

Spotify Technology Stock Down 1.8 %

Shares of NYSE SPOT opened at $493.51 on Friday. The company’s fifty day moving average is $413.44 and its 200-day moving average is $355.61. The stock has a market cap of $98.23 billion, a price-to-earnings ratio of 134.11 and a beta of 1.61. Spotify Technology S.A. has a twelve month low of $185.37 and a twelve month high of $506.47.

Spotify Technology (NYSE:SPOT) last announced 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 firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same period in the prior year, the business earned $0.36 earnings per share. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, research analysts anticipate that Spotify Technology S.A. will post 6.02 EPS for the current fiscal year.

Spotify Technology Company 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.