Cwm LLC Sells 1,446 Shares of Spotify Technology S.A. (NYSE:SPOT)

Cwm LLC trimmed its holdings in Spotify Technology S.A. (NYSE:SPOT) by 13.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 8,926 shares of the company’s stock after selling 1,446 shares during the quarter. Cwm LLC’s holdings in Spotify Technology were worth $1,677,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Exchange Traded Concepts LLC lifted its holdings in shares of Spotify Technology by 122.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 7,795 shares of the company’s stock valued at $1,205,000 after buying an additional 4,283 shares during the period. Asset Management One Co. Ltd. lifted its holdings in Spotify Technology by 87.7% in the third quarter. Asset Management One Co. Ltd. now owns 49,807 shares of the company’s stock valued at $7,702,000 after acquiring an additional 23,272 shares during the period. Handelsbanken Fonder AB grew its stake in shares of Spotify Technology by 0.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 25,475 shares of the company’s stock valued at $3,939,000 after purchasing an additional 236 shares during the period. Slow Capital Inc. increased its position in shares of Spotify Technology by 1.8% during the 3rd quarter. Slow Capital Inc. now owns 18,393 shares of the company’s stock valued at $2,844,000 after purchasing an additional 333 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Spotify Technology by 6.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,315 shares of the company’s stock worth $358,000 after purchasing an additional 143 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Up 0.2 %

Shares of SPOT stock opened at $289.68 on Friday. The stock has a market capitalization of $57.45 billion, a price-to-earnings ratio of -432.35 and a beta of 1.63. Spotify Technology S.A. has a 12-month low of $128.67 and a 12-month high of $319.30. The stock’s 50-day moving average price is $271.48 and its 200-day moving average price is $218.66.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data 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 business 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 in the previous year, the company posted ($1.24) EPS. As a group, research analysts predict that Spotify Technology S.A. will post 4.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SPOT. Bank of America boosted their target price on shares of Spotify Technology from $315.00 to $370.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays upped their price objective on Spotify Technology from $335.00 to $350.00 and gave the stock an “overweight” rating in a research note on Wednesday. Macquarie lifted their target price on Spotify Technology from $300.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. TheStreet upgraded Spotify Technology from a “d+” rating to a “c-” rating in a research report on Friday, February 9th. Finally, Morgan Stanley raised their price objective on Spotify Technology from $270.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Eight analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $301.81.

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.