Claro Advisors LLC Sells 935 Shares of Spotify Technology S.A. (NYSE:SPOT)

Claro Advisors LLC cut its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 33.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,841 shares of the company’s stock after selling 935 shares during the quarter. Claro Advisors LLC’s holdings in Spotify Technology were worth $486,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Nordea Investment Management AB increased its position in Spotify Technology by 7.9% during the fourth quarter. Nordea Investment Management AB now owns 248,659 shares of the company’s stock worth $46,927,000 after acquiring an additional 18,105 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Spotify Technology by 410.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 97,771 shares of the company’s stock valued at $18,372,000 after buying an additional 78,609 shares in the last quarter. Evoke Wealth LLC bought a new stake in shares of Spotify Technology in the fourth quarter valued at approximately $2,271,000. GSA Capital Partners LLP boosted its stake in shares of Spotify Technology by 452.4% in the third quarter. GSA Capital Partners LLP now owns 14,242 shares of the company’s stock valued at $2,202,000 after buying an additional 11,664 shares during the period. Finally, Rheos Capital Works Inc. grew its position in Spotify Technology by 205.7% during the fourth quarter. Rheos Capital Works Inc. now owns 107,000 shares of the company’s stock worth $20,106,000 after buying an additional 72,000 shares in the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Stock Up 0.1 %

Shares of SPOT stock traded up $0.21 during trading on Monday, hitting $314.00. The company had a trading volume of 1,080,447 shares, compared to its average volume of 1,967,997. Spotify Technology S.A. has a 52 week low of $129.23 and a 52 week high of $331.08. The stock has a market capitalization of $59.72 billion, a price-to-earnings ratio of -468.42 and a beta of 1.61. The stock’s 50-day moving average is $303.83 and its two-hundred day moving average is $261.31.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.42. The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.87 billion. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. During the same quarter in the prior year, the company posted ($1.24) EPS. On average, research analysts predict that Spotify Technology S.A. will post 4.95 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on SPOT. Bank of America upped their target price on Spotify Technology from $315.00 to $370.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Raymond James upped their target price on Spotify Technology from $260.00 to $320.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Loop Capital lifted their price objective on Spotify Technology from $165.00 to $250.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. Morgan Stanley boosted their target price on shares of Spotify Technology from $270.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Finally, UBS Group raised their price objective on Spotify Technology from $274.00 to $375.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Eight analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $311.48.

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.