Exchange Traded Concepts LLC Has $4.06 Million Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Exchange Traded Concepts LLC lowered its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,077 shares of the company’s stock after selling 761 shares during the period. Exchange Traded Concepts LLC’s holdings in Spotify Technology were worth $4,061,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. WCM Investment Management LLC raised its stake in Spotify Technology by 18.5% during the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after buying an additional 605,755 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Spotify Technology by 3.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock valued at $1,286,969,000 after acquiring an additional 102,786 shares in the last quarter. State Street Corp raised its position in shares of Spotify Technology by 1.5% during the third quarter. State Street Corp now owns 1,997,323 shares of the company’s stock worth $736,073,000 after purchasing an additional 28,864 shares during the period. FMR LLC lifted its holdings in shares of Spotify Technology by 23.4% in the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after purchasing an additional 297,035 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in Spotify Technology by 19.0% in the 3rd quarter. Two Sigma Advisers LP now owns 980,000 shares of the company’s stock valued at $361,159,000 after purchasing an additional 156,300 shares during the period. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Up 1.9 %

NYSE SPOT opened at $511.19 on Friday. The firm has a market cap of $101.75 billion, a P/E ratio of 138.91 and a beta of 1.62. The company’s 50 day moving average is $473.74 and its 200-day moving average is $395.66. Spotify Technology S.A. has a 12-month low of $210.34 and a 12-month high of $512.01.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same period in the previous year, the firm earned $0.36 EPS. The company’s revenue was up 18.8% compared to the same quarter last year. Equities analysts expect that Spotify Technology S.A. will post 5.91 EPS for the current year.

Wall Street Analysts Forecast Growth

SPOT has been the topic of several research reports. Benchmark restated a “buy” rating and set a $520.00 price objective on shares of Spotify Technology in a report on Thursday, January 16th. Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Barclays increased their price objective on Spotify Technology from $385.00 to $475.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Piper Sandler lifted their target price on Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, Phillip Securities reiterated an “accumulate” rating and set a $485.00 price target (up previously from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $441.21.

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.