Claro Advisors LLC Sells 173 Shares of Spotify Technology S.A. (NYSE:SPOT)

Claro Advisors LLC cut its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 12.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,259 shares of the company’s stock after selling 173 shares during the period. Claro Advisors LLC’s holdings in Spotify Technology were worth $464,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. WCM Investment Management LLC increased its position in Spotify Technology by 18.5% during the third 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 during the period. Bamco Inc. NY increased its holdings in shares of Spotify Technology by 28.3% during the first quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock worth $228,164,000 after purchasing an additional 190,931 shares during the period. Swedbank AB raised its position in shares of Spotify Technology by 13.2% in the second quarter. Swedbank AB now owns 852,526 shares of the company’s stock valued at $267,514,000 after buying an additional 99,730 shares in the last quarter. Perpetual Ltd increased its stake in Spotify Technology by 24.3% during the 3rd quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock worth $279,965,000 after acquiring an additional 148,431 shares during the period. Finally, D1 Capital Partners L.P. raised its holdings in Spotify Technology by 5.6% in the 2nd quarter. D1 Capital Partners L.P. now owns 680,061 shares of the company’s stock valued at $213,396,000 after acquiring an additional 36,000 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Down 0.9 %

Shares of NYSE SPOT opened at $454.20 on Tuesday. The company has a market capitalization of $90.41 billion, a PE ratio of 123.42 and a beta of 1.56. Spotify Technology S.A. has a twelve month low of $175.00 and a twelve month high of $489.69. The firm has a fifty day simple moving average of $380.76 and a 200 day simple moving average of $339.74.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.30). The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The business’s revenue was up 18.8% on a year-over-year basis. During the same period last year, the business posted $0.36 earnings per share. As a group, equities analysts expect that Spotify Technology S.A. will post 6.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SPOT. Deutsche Bank Aktiengesellschaft increased their target price on Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. KeyCorp raised their target price on shares of Spotify Technology from $490.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Piper Sandler upped their price target on shares of Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Wells Fargo & Company increased their price target on shares of Spotify Technology from $470.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Evercore ISI boosted their price objective on shares of Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, Spotify Technology presently has a consensus rating of “Moderate Buy” and an average target price of $421.69.

Spotify Technology Company Profile

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.