Flagship Harbor Advisors LLC Has $1.63 Million Stake in Spotify Technology S.A. (NYSE:SPOT)

Flagship Harbor Advisors LLC trimmed its stake in shares of Spotify Technology S.A. (NYSE:SPOTFree Report) by 3.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,644 shares of the company’s stock after selling 149 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Spotify Technology were worth $1,630,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SPOT. WCM Investment Management LLC lifted its stake in shares of Spotify Technology by 18.5% in the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after acquiring an additional 605,755 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Spotify Technology by 36,910.0% during the third quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock valued at $128,073,000 after purchasing an additional 346,585 shares in the last quarter. FMR LLC boosted its stake in shares of Spotify Technology by 23.4% during the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after purchasing an additional 297,035 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Spotify Technology by 3,948.3% in the third quarter. Janus Henderson Group PLC now owns 264,233 shares of the company’s stock valued at $97,329,000 after buying an additional 257,706 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Spotify Technology by 179.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 380,214 shares of the company’s stock valued at $140,120,000 after buying an additional 243,933 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of SPOT opened at $511.19 on Monday. The firm has a market capitalization of $101.75 billion, a P/E ratio of 138.91 and a beta of 1.62. Spotify Technology S.A. has a 52 week low of $210.34 and a 52 week high of $512.01. The stock has a 50 day moving average price of $473.74 and a two-hundred day moving average price of $396.25.

Spotify Technology (NYSE:SPOTGet Free Report) last announced its quarterly 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 return on equity of 19.07% and a net margin of 4.66%. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter last year, the company posted $0.36 EPS. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. On average, equities analysts forecast that Spotify Technology S.A. will post 5.91 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on SPOT. Barclays upped their price target on shares of Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Macquarie increased their price objective 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 upped their price target on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Benchmark restated a “buy” rating and set a $520.00 price objective on shares of Spotify Technology in a research report on Thursday, January 16th. Finally, Piper Sandler upped their target price on Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $441.21.

Check Out Our Latest Stock Analysis on Spotify Technology

About Spotify Technology

(Free Report)

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.

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Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

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