Stephens Investment Management Group LLC Trims Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Stephens Investment Management Group LLC lessened its holdings in Spotify Technology S.A. (NYSE:SPOT) by 63.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,902 shares of the company’s stock after selling 127,523 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Spotify Technology were worth $33,510,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jennison Associates LLC bought a new position in shares of Spotify Technology in the fourth quarter worth about $1,335,575,000. Forsta AP Fonden purchased a new stake in Spotify Technology in the 4th quarter valued at about $619,600,000. WCM Investment Management LLC grew its stake in Spotify Technology by 18.5% in 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. International Assets Investment Management LLC increased its position in shares of Spotify Technology by 36,910.0% during the third quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock worth $128,073,000 after acquiring an additional 346,585 shares during the period. Finally, FMR LLC raised its stake in shares of Spotify Technology by 23.4% during the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after acquiring an additional 297,035 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

SPOT has been the topic of several research analyst reports. Piper Sandler increased their price objective on Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. TD Cowen raised their price target on Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th. Guggenheim increased their target price on shares of Spotify Technology from $520.00 to $675.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and an average price target of $514.79.

Spotify Technology Stock Down 0.4 %

Spotify Technology stock opened at $623.54 on Friday. The stock has a 50-day moving average price of $493.96 and a 200 day moving average price of $414.66. The company has a market capitalization of $124.12 billion, a price-to-earnings ratio of 104.80 and a beta of 1.63. Spotify Technology S.A. has a 52 week low of $228.07 and a 52 week high of $632.45.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period last year, the company earned $0.36 earnings per share. The firm’s revenue was up 18.8% on a year-over-year basis. Research analysts anticipate that Spotify Technology S.A. will post 9.69 EPS for the current fiscal year.

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.