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

Choreo LLC trimmed its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,251 shares of the company’s stock after selling 137 shares during the period. Choreo LLC’s holdings in Spotify Technology were worth $3,275,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Spotify Technology by 44,073.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 67,585 shares of the company’s stock worth $30,534,000 after purchasing an additional 67,432 shares in the last quarter. WT Asset Management Ltd acquired a new position in shares of Spotify Technology during the fourth quarter worth $14,987,000. Y.D. More Investments Ltd lifted its position in shares of Spotify Technology by 6.7% during the fourth quarter. Y.D. More Investments Ltd now owns 13,305 shares of the company’s stock worth $5,952,000 after purchasing an additional 835 shares in the last quarter. Stratos Wealth Advisors LLC lifted its position in shares of Spotify Technology by 8.0% during the fourth quarter. Stratos Wealth Advisors LLC now owns 1,736 shares of the company’s stock worth $777,000 after purchasing an additional 128 shares in the last quarter. Finally, Stratos Wealth Partners LTD. lifted its position in shares of Spotify Technology by 39.9% during the fourth quarter. Stratos Wealth Partners LTD. now owns 1,248 shares of the company’s stock worth $558,000 after purchasing an additional 356 shares in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on SPOT. Rosenblatt Securities reissued a “neutral” rating and set a $658.00 target price (up from $473.00) on shares of Spotify Technology in a research report on Wednesday. Phillip Securities restated an “accumulate” rating and issued a $485.00 price target (up previously from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. Macquarie lifted their price target on shares of Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Bank of America lifted their price target on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company lifted 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $514.79.

Spotify Technology Stock Performance

Shares of SPOT opened at $625.67 on Friday. Spotify Technology S.A. has a 1 year low of $227.52 and a 1 year high of $630.77. The company has a market cap of $124.54 billion, a price-to-earnings ratio of 170.02 and a beta of 1.63. The firm has a fifty day moving average of $488.02 and a 200-day moving average of $410.89.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results 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 firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The business’s revenue was up 18.8% compared to the same quarter last year. During the same period last year, the firm posted $0.36 EPS. Analysts predict that Spotify Technology S.A. will post 5.91 EPS for the current year.

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.