Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Altshuler Shaham Ltd

Altshuler Shaham Ltd trimmed its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 51.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,167 shares of the company’s stock after selling 2,300 shares during the period. Altshuler Shaham Ltd’s holdings in Spotify Technology were worth $407,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in Spotify Technology by 61.7% during the third quarter. Wellington Management Group LLP now owns 2,970,540 shares of the company’s stock worth $459,364,000 after purchasing an additional 1,133,305 shares during the last quarter. Schroder Investment Management Group grew its stake in Spotify Technology by 303.4% in the 3rd quarter. Schroder Investment Management Group now owns 1,315,289 shares of the company’s stock valued at $203,396,000 after acquiring an additional 989,243 shares during the last quarter. Artisan Partners Limited Partnership raised its position in Spotify Technology by 194.7% during the third quarter. Artisan Partners Limited Partnership now owns 1,123,078 shares of the company’s stock worth $173,673,000 after acquiring an additional 741,955 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Spotify Technology by 16.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,699,008 shares of the company’s stock valued at $572,015,000 after purchasing an additional 523,237 shares in the last quarter. Finally, Citigroup Inc. grew its position in shares of Spotify Technology by 1,037.4% in the third quarter. Citigroup Inc. now owns 386,191 shares of the company’s stock valued at $59,721,000 after purchasing an additional 352,237 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of NYSE:SPOT traded up $0.02 during midday trading on Thursday, reaching $298.67. The company had a trading volume of 844,718 shares, compared to its average volume of 2,136,066. Spotify Technology S.A. has a one year low of $129.23 and a one year high of $319.30. The stock has a market capitalization of $56.81 billion, a P/E ratio of -445.78 and a beta of 1.61. The stock’s fifty day moving average price is $278.26 and its 200-day moving average price is $226.82.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.63 by $0.42. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. The business had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter last year, the company posted ($1.24) earnings per share. As a group, sell-side analysts forecast that Spotify Technology S.A. will post 4.78 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SPOT shares. The Goldman Sachs Group raised their target price on shares of Spotify Technology from $277.00 to $317.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Macquarie increased their target price on Spotify Technology from $300.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. Canaccord Genuity Group lifted their price target on Spotify Technology from $315.00 to $330.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Wells Fargo & Company increased their price objective on shares of Spotify Technology from $250.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Finally, TheStreet upgraded shares of Spotify Technology from a “d+” rating to a “c-” rating in a report on Friday, February 9th. Eight investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $306.42.

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.