Baldwin Wealth Partners LLC MA Sells 1,817 Shares of Spotify Technology S.A. (NYSE:SPOT)

Baldwin Wealth Partners LLC MA reduced its stake in Spotify Technology S.A. (NYSE:SPOT) by 56.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,398 shares of the company’s stock after selling 1,817 shares during the quarter. Baldwin Wealth Partners LLC MA’s holdings in Spotify Technology were worth $625,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prestige Wealth Management Group LLC purchased a new position in Spotify Technology in the third quarter valued at approximately $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Spotify Technology in the third quarter valued at $33,000. Larson Financial Group LLC lifted its position in shares of Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after buying an additional 33 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Spotify Technology during the 3rd quarter worth $40,000. Finally, Rakuten Securities Inc. increased its holdings in Spotify Technology by 40.5% in the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after acquiring an additional 32 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on SPOT. JPMorgan Chase & Co. upped their price objective 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. Cantor Fitzgerald restated a “neutral” rating and set a $340.00 price target on shares of Spotify Technology in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Bank of America boosted their target price on shares of Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Macquarie raised their price target on Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $441.21.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $500.84 on Monday. Spotify Technology S.A. has a fifty-two week low of $213.31 and a fifty-two week high of $512.01. The company has a market capitalization of $99.69 billion, a P/E ratio of 135.90 and a beta of 1.62. The stock has a 50 day moving average price of $473.74 and a two-hundred day moving average price of $396.89.

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

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.