Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Caz Investments LP

Caz Investments LP cut its position in Spotify Technology S.A. (NYSE:SPOT) by 52.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 200 shares of the company’s stock after selling 220 shares during the period. Spotify Technology makes up 0.0% of Caz Investments LP’s holdings, making the stock its 20th largest position. Caz Investments LP’s holdings in Spotify Technology were worth $74,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Transcendent Capital Group LLC purchased a new stake in Spotify Technology in the second quarter valued at $25,000. Benjamin Edwards Inc. lifted its holdings in shares of Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the period. Mather Group LLC. boosted its stake in shares of Spotify Technology by 9,900.0% in the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after buying an additional 99 shares during the last quarter. Asset Dedication LLC acquired a new stake in Spotify Technology during the second quarter worth about $35,000. Finally, Larson Financial Group LLC raised its position in Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after acquiring an additional 33 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Down 1.0 %

Shares of SPOT opened at $476.74 on Wednesday. Spotify Technology S.A. has a fifty-two week low of $179.66 and a fifty-two week high of $489.69. The company has a market cap of $94.89 billion, a P/E ratio of 129.55 and a beta of 1.56. The firm’s 50 day moving average price is $397.13 and its 200 day moving average price is $347.15.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period in the previous year, the firm earned $0.36 earnings per share. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. Research analysts forecast that Spotify Technology S.A. will post 6.02 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on SPOT shares. Morgan Stanley upped their price objective on Spotify Technology from $430.00 to $460.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Benchmark lifted their price objective on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Monday, November 11th. The Goldman Sachs Group upped their price objective on shares of Spotify Technology from $430.00 to $490.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Wells Fargo & Company raised their price objective on Spotify Technology from $470.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, TD Cowen upped their price objective on shares of Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $421.69.

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.