Spotify Technology S.A. (NYSE:SPOT) Stock Holdings Decreased by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB lessened its position in Spotify Technology S.A. (NYSE:SPOT) by 22.1% in the 4th quarter, Holdings Channel reports. The fund owned 3,121 shares of the company’s stock after selling 886 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Spotify Technology were worth $1,396,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Joel Isaacson & Co. LLC lifted its holdings in shares of Spotify Technology by 1.9% in the fourth quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company’s stock valued at $697,000 after purchasing an additional 29 shares in the last quarter. Exane Asset Management acquired a new position in Spotify Technology during the fourth quarter valued at $4,288,000. Golden State Wealth Management LLC acquired a new stake in Spotify Technology during the 4th quarter worth about $69,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in Spotify Technology during the 4th quarter valued at about $6,741,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Spotify Technology by 45.7% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 647,460 shares of the company’s stock valued at $289,661,000 after purchasing an additional 203,109 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $623.54 on Monday. The company has a market capitalization of $124.12 billion, a P/E ratio of 104.80 and a beta of 1.63. Spotify Technology S.A. has a 52 week low of $228.07 and a 52 week high of $632.45. The company’s 50 day moving average price is $493.96 and its two-hundred day moving average price is $415.25.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. The business’s revenue was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 EPS. Analysts forecast that Spotify Technology S.A. will post 9.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

SPOT has been the subject of several research reports. UBS Group raised their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Barclays lifted their target price on shares of Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Wells Fargo & Company upped their price target on shares of Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Piper Sandler boosted their target price on Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Finally, Guggenheim raised their price target on Spotify Technology from $520.00 to $675.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $514.79.

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.