Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Calamos Wealth Management LLC

Calamos Wealth Management LLC decreased its position in Spotify Technology S.A. (NYSE:SPOT) by 42.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,350 shares of the company’s stock after selling 3,909 shares during the period. Calamos Wealth Management LLC’s holdings in Spotify Technology were worth $2,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPOT. Aigen Investment Management LP raised its position in Spotify Technology by 42.4% during the 3rd quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock worth $3,612,000 after buying an additional 2,918 shares during the last quarter. Jennison Associates LLC purchased a new position in shares of Spotify Technology during the fourth quarter worth $1,335,575,000. Patriot Financial Group Insurance Agency LLC acquired a new position in Spotify Technology during the fourth quarter valued at $214,000. Pathway Capital Management LP boosted its holdings in Spotify Technology by 23.8% in the third quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock valued at $21,132,000 after purchasing an additional 11,042 shares during the last quarter. Finally, Perpetual Ltd lifted its holdings in shares of Spotify Technology by 24.3% in the 3rd quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock valued at $279,965,000 after buying an additional 148,431 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Performance

SPOT opened at $549.45 on Tuesday. The business’s 50 day moving average price is $480.71 and its 200 day moving average price is $405.25. The stock has a market capitalization of $109.37 billion, a PE ratio of 149.31 and a beta of 1.63. Spotify Technology S.A. has a one year low of $219.36 and a one year high of $560.36.

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 the consensus estimate of $1.75 by ($0.30). The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 earnings per share. As a group, equities research analysts forecast that Spotify Technology S.A. will post 5.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Barclays increased their price target on shares of Spotify Technology from $385.00 to $475.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Pivotal Research lifted their price objective on shares of Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. The Goldman Sachs Group raised their target price on Spotify Technology from $490.00 to $550.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Piper Sandler upped their price target on Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, Spotify Technology currently has an average rating of “Moderate Buy” and an average price target of $451.39.

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.