Harbour Capital Advisors LLC Cuts Stake in Spotify Technology S.A. (NYSE:SPOT)

Harbour Capital Advisors LLC decreased its stake in Spotify Technology S.A. (NYSE:SPOT) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,030 shares of the company’s stock after selling 25 shares during the period. Harbour Capital Advisors LLC’s holdings in Spotify Technology were worth $947,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. WCM Investment Management LLC boosted its holdings in Spotify Technology by 18.5% in the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after acquiring an additional 605,755 shares during the period. International Assets Investment Management LLC lifted its holdings in Spotify Technology by 36,910.0% in the 3rd quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock worth $128,073,000 after buying an additional 346,585 shares in the last quarter. Sei Investments Co. lifted its holdings in Spotify Technology by 106.8% in the 2nd quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock worth $202,828,000 after buying an additional 333,782 shares in the last quarter. FMR LLC boosted its position in Spotify Technology by 23.4% in the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after buying an additional 297,035 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Spotify Technology by 3,948.3% during the third quarter. Janus Henderson Group PLC now owns 264,233 shares of the company’s stock valued at $97,329,000 after acquiring an additional 257,706 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

SPOT traded down $3.08 on Monday, hitting $456.45. The company had a trading volume of 762,975 shares, compared to its average volume of 1,592,331. Spotify Technology S.A. has a 1-year low of $191.88 and a 1-year high of $506.47. The company’s fifty day moving average price is $460.14 and its 200 day moving average price is $384.72. The stock has a market cap of $90.86 billion, a price-to-earnings ratio of 124.04 and a beta of 1.62.

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 analysts’ consensus estimates of $1.75 by ($0.30). The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 earnings per share. On average, sell-side analysts forecast that Spotify Technology S.A. will post 6.02 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Macquarie increased their price target on Spotify Technology from $395.00 to $500.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. upped their price target on shares of Spotify Technology from $425.00 to $530.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Bank of America raised their price objective on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Phillip Securities restated an “accumulate” rating and issued a $485.00 target price (up previously from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $433.36.

Spotify Technology Company 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.