USA Financial Formulas Sells 158 Shares of Spotify Technology S.A. (NYSE:SPOT)

USA Financial Formulas decreased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 17.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 765 shares of the company’s stock after selling 158 shares during the period. USA Financial Formulas’ holdings in Spotify Technology were worth $342,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. boosted its stake in Spotify Technology by 5.8% during the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock valued at $176,000 after buying an additional 26 shares during the period. West Bancorporation Inc. lifted its stake in Spotify Technology by 3.4% during the third quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock worth $305,000 after purchasing an additional 27 shares during the last quarter. Avior Wealth Management LLC lifted its stake in Spotify Technology by 12.0% during the third quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock worth $104,000 after purchasing an additional 30 shares during the last quarter. Park National Corp OH lifted its stake in Spotify Technology by 4.1% during the fourth quarter. Park National Corp OH now owns 793 shares of the company’s stock worth $355,000 after purchasing an additional 31 shares during the last quarter. Finally, Washington Trust Advisors Inc. lifted its stake in Spotify Technology by 12.0% during the third quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock worth $110,000 after purchasing an additional 32 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

SPOT stock opened at $490.08 on Friday. Spotify Technology S.A. has a fifty-two week low of $191.88 and a fifty-two week high of $506.47. The business’s 50 day moving average price is $465.30 and its two-hundred day moving average price is $387.49. The company has a market capitalization of $97.55 billion, a price-to-earnings ratio of 133.17 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 for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter last year, the company posted $0.36 EPS. The firm’s revenue was up 18.8% on a year-over-year basis. Sell-side analysts forecast that Spotify Technology S.A. will post 5.96 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on SPOT. Wells Fargo & Company lifted their price target on Spotify Technology from $470.00 to $520.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Bank of America lifted their price target on Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Morgan Stanley lifted their price target on Spotify Technology from $430.00 to $460.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Macquarie lifted their price objective on Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, TD Cowen lifted their price objective on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, Spotify Technology presently has an average rating of “Moderate Buy” and a consensus price target of $441.21.

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.