Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Ewa LLC

Ewa LLC cut its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 29.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 585 shares of the company’s stock after selling 244 shares during the period. Ewa LLC’s holdings in Spotify Technology were worth $216,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. First Horizon Advisors Inc. lifted its position in shares of Spotify Technology by 5.8% during the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock worth $176,000 after purchasing an additional 26 shares in the last quarter. West Bancorporation Inc. increased its stake in Spotify Technology by 3.4% during the 3rd quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock worth $305,000 after buying an additional 27 shares during the period. Avior Wealth Management LLC lifted its holdings in Spotify Technology by 12.0% in the 3rd quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock worth $104,000 after buying an additional 30 shares in the last quarter. Washington Trust Advisors Inc. lifted its holdings in Spotify Technology by 12.0% in the 3rd quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock worth $110,000 after buying an additional 32 shares in the last quarter. Finally, Rakuten Securities Inc. boosted its position in Spotify Technology by 40.5% in the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after buying an additional 32 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Up 1.0 %

SPOT stock opened at $498.63 on Monday. The company has a market capitalization of $99.25 billion, a P/E ratio of 135.50 and a beta of 1.61. The company has a 50-day simple moving average of $416.02 and a 200 day simple moving average of $357.72. Spotify Technology S.A. has a fifty-two week low of $185.37 and a fifty-two week high of $506.47.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.30). The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The company’s revenue was up 18.8% on a year-over-year basis. During the same quarter last year, the business earned $0.36 earnings per share. Equities analysts anticipate that Spotify Technology S.A. will post 6.02 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on SPOT. The Goldman Sachs Group boosted their price target on Spotify Technology from $430.00 to $490.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft upped their target price on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price target on shares of Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Wells Fargo & Company increased their price objective on shares of Spotify Technology from $470.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Rosenblatt Securities boosted their target price on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, Spotify Technology has an average rating of “Moderate Buy” and an average price target of $429.96.

Spotify Technology 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.