Spotify Technology $SPOT Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC lessened its position in Spotify Technology (NYSE:SPOT) by 20.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 159,198 shares of the company’s stock after selling 40,319 shares during the quarter. Natixis Advisors LLC owned approximately 0.08% of Spotify Technology worth $111,120,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Korea Investment CORP boosted its holdings in Spotify Technology by 17.4% during the 3rd quarter. Korea Investment CORP now owns 173,454 shares of the company’s stock valued at $121,071,000 after acquiring an additional 25,671 shares during the period. Hel Ved Capital Management Ltd purchased a new stake in Spotify Technology during the third quarter worth about $1,612,000. Angeles Wealth Management LLC increased its stake in Spotify Technology by 48.8% during the third quarter. Angeles Wealth Management LLC now owns 433 shares of the company’s stock worth $302,000 after purchasing an additional 142 shares during the period. Blair William & Co. IL lifted its position in shares of Spotify Technology by 350.6% during the third quarter. Blair William & Co. IL now owns 39,453 shares of the company’s stock worth $27,538,000 after purchasing an additional 30,697 shares in the last quarter. Finally, HUB Investment Partners LLC boosted its stake in shares of Spotify Technology by 31.5% in the third quarter. HUB Investment Partners LLC now owns 764 shares of the company’s stock valued at $533,000 after purchasing an additional 183 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SPOT. UBS Group dropped their price objective on shares of Spotify Technology from $850.00 to $800.00 and set a “buy” rating for the company in a report on Friday, January 9th. Phillip Securities upgraded shares of Spotify Technology from a “hold” rating to a “moderate buy” rating in a report on Monday, November 10th. The Goldman Sachs Group raised shares of Spotify Technology from a “neutral” rating to a “buy” rating and decreased their price target for the company from $735.00 to $700.00 in a research report on Friday, January 23rd. Sanford C. Bernstein dropped their price target on shares of Spotify Technology from $830.00 to $650.00 and set an “outperform” rating for the company in a research note on Wednesday, January 14th. Finally, Pivotal Research lowered Spotify Technology from a “buy” rating to a “hold” rating and cut their price objective for the stock from $875.00 to $420.00 in a research report on Wednesday, February 11th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus price target of $698.91.

Spotify Technology Stock Performance

Shares of NYSE SPOT opened at $566.73 on Monday. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week high of $785.00. The firm has a market capitalization of $116.68 billion, a PE ratio of 58.79, a price-to-earnings-growth ratio of 1.23 and a beta of 1.66. The stock’s 50-day simple moving average is $507.95 and its 200-day simple moving average is $600.68.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, February 10th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $3.16 by $2.00. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Spotify Technology had a return on equity of 31.35% and a net margin of 13.16%.The firm’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.88 earnings per share. On average, sell-side analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Spotify Technology Profile

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.