Intellectus Partners LLC Reduces Position in Spotify Technology S.A. (NYSE:SPOT)

Intellectus Partners LLC lowered its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 14.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,519 shares of the company’s stock after selling 784 shares during the period. Intellectus Partners LLC’s holdings in Spotify Technology were worth $849,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its stake in shares of Spotify Technology by 16.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,699,008 shares of the company’s stock worth $572,015,000 after acquiring an additional 523,237 shares during the period. Wellington Management Group LLP raised its stake in Spotify Technology by 61.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,970,540 shares of the company’s stock valued at $459,364,000 after buying an additional 1,133,305 shares during the last quarter. AMF Tjanstepension AB lifted its holdings in shares of Spotify Technology by 1.3% during the 3rd quarter. AMF Tjanstepension AB now owns 2,025,000 shares of the company’s stock valued at $313,146,000 after buying an additional 25,000 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Spotify Technology by 11.5% in the third quarter. Acadian Asset Management LLC now owns 1,916,821 shares of the company’s stock worth $296,376,000 after acquiring an additional 197,368 shares during the period. Finally, Schroder Investment Management Group increased its position in Spotify Technology by 303.4% during the third quarter. Schroder Investment Management Group now owns 1,315,289 shares of the company’s stock valued at $203,396,000 after acquiring an additional 989,243 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on SPOT. Loop Capital upped their price objective on Spotify Technology from $165.00 to $250.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. Raymond James upped their price target on Spotify Technology from $260.00 to $320.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Pivotal Research lifted their target price on Spotify Technology from $390.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. HSBC lifted their price objective on Spotify Technology from $310.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Spotify Technology from $260.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Eight investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Spotify Technology presently has an average rating of “Moderate Buy” and an average target price of $301.81.

Spotify Technology Stock Performance

NYSE SPOT opened at $289.59 on Monday. The company has a fifty day moving average of $271.48 and a two-hundred day moving average of $219.53. Spotify Technology S.A. has a 1 year low of $128.67 and a 1 year high of $319.30.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.42. The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.87 billion. Spotify Technology had a negative return on equity of 4.39% and a negative net margin of 0.80%. During the same quarter last year, the business posted ($1.24) EPS. As a group, analysts predict that Spotify Technology S.A. will post 4.49 EPS for the current year.

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.