Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Eaton Vance Management


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Eaton Vance Management lifted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 13.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 131,930 shares of the company’s stock after buying an additional 15,258 shares during the period. Eaton Vance Management’s holdings in Spotify Technology were worth $41,513,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SPOT. Guggenheim Capital LLC acquired a new stake in shares of Spotify Technology during the 3rd quarter worth about $258,000. Charles Schwab Investment Management Inc. raised its position in shares of Spotify Technology by 8.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,970 shares of the company’s stock worth $6,057,000 after acquiring an additional 2,019 shares in the last quarter. Wealth Alliance raised its position in shares of Spotify Technology by 11.4% during the 3rd quarter. Wealth Alliance now owns 1,145 shares of the company’s stock worth $278,000 after acquiring an additional 117 shares in the last quarter. Truist Financial Corp raised its position in shares of Spotify Technology by 46.4% during the 3rd quarter. Truist Financial Corp now owns 14,195 shares of the company’s stock worth $3,443,000 after acquiring an additional 4,502 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in Spotify Technology by 5.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 6,341 shares of the company’s stock worth $1,538,000 after buying an additional 328 shares during the last quarter. 55.93% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on SPOT shares. Monness Crespi & Hardt raised their price target on Spotify Technology from $310.00 to $380.00 and gave the stock a “buy” rating in a research note on Wednesday, December 30th. Citigroup upgraded Spotify Technology from a “sell” rating to a “neutral” rating in a research note on Monday. UBS Group dropped their price target on Spotify Technology from $255.00 to $235.00 and set a “sell” rating on the stock in a research note on Thursday, February 4th. Zacks Investment Research downgraded Spotify Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, March 24th. Finally, Credit Suisse Group downgraded Spotify Technology from an “outperform” rating to a “neutral” rating and set a $315.00 price target on the stock. in a research note on Tuesday, December 15th. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have issued a buy rating to the company. Spotify Technology presently has a consensus rating of “Hold” and a consensus target price of $295.25.

SPOT opened at $280.15 on Thursday. The business has a 50 day simple moving average of $291.89 and a 200-day simple moving average of $293.46. The stock has a market capitalization of $50.22 billion, a P/E ratio of -65.76 and a beta of 1.64. Spotify Technology S.A. has a 12 month low of $124.07 and a 12 month high of $387.44.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Wednesday, February 3rd. The company reported ($0.66) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.10. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Spotify Technology had a negative return on equity of 30.46% and a negative net margin of 8.73%. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period last year, the firm earned ($1.14) EPS. As a group, sell-side analysts expect that Spotify Technology S.A. will post -3.71 EPS for the current fiscal year.

Spotify Technology Profile

Spotify Technology SA, together with its subsidiaries, provides audio streaming services worldwide. It operates in 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.

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Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

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