Moody Lynn & Lieberson LLC Sells 80 Shares of Spotify Technology S.A. (NYSE:SPOT)

Moody Lynn & Lieberson LLC lowered its stake in Spotify Technology S.A. (NYSE:SPOT) by 1.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,763 shares of the company’s stock after selling 80 shares during the quarter. Moody Lynn & Lieberson LLC’s holdings in Spotify Technology were worth $3,026,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Aigen Investment Management LP increased its holdings in Spotify Technology by 42.4% during the 3rd quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock valued at $3,612,000 after purchasing an additional 2,918 shares during the period. Pathway Capital Management LP grew its position in shares of Spotify Technology by 23.8% in the 3rd quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock worth $21,132,000 after buying an additional 11,042 shares during the last quarter. Perpetual Ltd increased its stake in shares of Spotify Technology by 24.3% during the third quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock valued at $279,965,000 after buying an additional 148,431 shares during the period. Covenant Asset Management LLC bought a new position in shares of Spotify Technology during the third quarter valued at approximately $3,364,000. Finally, Kestra Investment Management LLC purchased a new stake in Spotify Technology in the third quarter worth $780,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $511.19 on Friday. Spotify Technology S.A. has a 1 year low of $210.34 and a 1 year high of $512.01. The company has a market cap of $101.75 billion, a P/E ratio of 138.91 and a beta of 1.62. The stock’s fifty day moving average price is $473.74 and its 200-day moving average price is $395.66.

Spotify Technology (NYSE:SPOT) last posted its 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). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the prior year, the company posted $0.36 EPS. Spotify Technology’s revenue was up 18.8% on a year-over-year basis. On average, sell-side analysts anticipate that Spotify Technology S.A. will post 5.91 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price target on shares of Spotify Technology from $425.00 to $530.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group raised their price objective on shares of Spotify Technology from $490.00 to $550.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Morgan Stanley upped their target price on Spotify Technology from $430.00 to $460.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, KeyCorp raised their target price on Spotify Technology from $520.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, Spotify Technology currently has an average rating of “Moderate Buy” and an average price target of $441.21.

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.