Spotify Technology S.A. (NYSE:SPOT) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lowered its position in Spotify Technology S.A. (NYSE:SPOT) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,268 shares of the company’s stock after selling 65 shares during the period. MetLife Investment Management LLC’s holdings in Spotify Technology were worth $3,416,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of SPOT. Cetera Investment Advisers raised its stake in shares of Spotify Technology by 95.2% during the 1st quarter. Cetera Investment Advisers now owns 13,332 shares of the company’s stock valued at $3,518,000 after buying an additional 6,502 shares during the last quarter. Cetera Advisors LLC lifted its holdings in Spotify Technology by 19.8% in the first quarter. Cetera Advisors LLC now owns 3,185 shares of the company’s stock valued at $840,000 after acquiring an additional 526 shares during the period. GAMMA Investing LLC boosted its position in Spotify Technology by 49.1% in the 2nd quarter. GAMMA Investing LLC now owns 498 shares of the company’s stock worth $156,000 after purchasing an additional 164 shares in the last quarter. Mather Group LLC. grew its stake in shares of Spotify Technology by 9,900.0% during the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after purchasing an additional 99 shares during the period. Finally, Kingswood Wealth Advisors LLC purchased a new position in shares of Spotify Technology during the 2nd quarter valued at approximately $679,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on SPOT shares. Macquarie raised their price target on shares of Spotify Technology from $395.00 to $500.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Benchmark raised their target price on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Monday, November 11th. KeyCorp upped their price target on Spotify Technology from $490.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Phillip Securities reissued an “accumulate” rating and issued a $485.00 price objective (up from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. Finally, TD Cowen upped their target price on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $422.90.

Spotify Technology Stock Up 2.7 %

NYSE:SPOT opened at $493.32 on Wednesday. The stock’s fifty day moving average is $408.78 and its two-hundred day moving average is $353.61. Spotify Technology S.A. has a 52 week low of $185.37 and a 52 week high of $494.00. The company has a market capitalization of $98.20 billion, a P/E ratio of 134.05 and a beta of 1.61.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same quarter in the prior year, the company posted $0.36 earnings per share. The business’s revenue was up 18.8% compared to the same quarter last year. Sell-side analysts anticipate that Spotify Technology S.A. will post 6.02 earnings per share for the current fiscal 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.