Bank of Jackson Hole Trust Has $51,000 Stock Position in Spotify Technology $SPOT

Bank of Jackson Hole Trust trimmed its stake in shares of Spotify Technology (NYSE:SPOT) by 59.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66 shares of the company’s stock after selling 98 shares during the quarter. Bank of Jackson Hole Trust’s holdings in Spotify Technology were worth $51,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Joel Isaacson & Co. LLC boosted its holdings in Spotify Technology by 1.0% during the second quarter. Joel Isaacson & Co. LLC now owns 1,551 shares of the company’s stock valued at $1,190,000 after purchasing an additional 15 shares in the last quarter. Ignite Planners LLC boosted its holdings in Spotify Technology by 2.4% during the second quarter. Ignite Planners LLC now owns 637 shares of the company’s stock valued at $489,000 after purchasing an additional 15 shares in the last quarter. Hartford Investment Management Co. boosted its holdings in Spotify Technology by 1.1% during the first quarter. Hartford Investment Management Co. now owns 1,449 shares of the company’s stock valued at $797,000 after purchasing an additional 16 shares in the last quarter. Stonekeep Investments LLC boosted its holdings in Spotify Technology by 2.1% during the second quarter. Stonekeep Investments LLC now owns 773 shares of the company’s stock valued at $593,000 after purchasing an additional 16 shares in the last quarter. Finally, Moody National Bank Trust Division boosted its holdings in shares of Spotify Technology by 0.5% in the 2nd quarter. Moody National Bank Trust Division now owns 2,931 shares of the company’s stock worth $2,249,000 after acquiring an additional 16 shares in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Stock Performance

NYSE:SPOT opened at $666.97 on Thursday. The stock’s fifty day moving average price is $693.07 and its two-hundred day moving average price is $679.75. The company has a market cap of $136.54 billion, a price-to-earnings ratio of 161.89, a P/E/G ratio of 3.11 and a beta of 1.67. Spotify Technology has a 52-week low of $376.04 and a 52-week high of $785.00.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($2.42). The company had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the company earned $1.33 EPS. On average, equities analysts predict that Spotify Technology will post 10.3 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on SPOT shares. JPMorgan Chase & Co. boosted their target price on Spotify Technology from $740.00 to $805.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Sanford C. Bernstein boosted their target price on Spotify Technology from $825.00 to $840.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. KeyCorp reduced their target price on Spotify Technology from $860.00 to $830.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Canaccord Genuity Group boosted their target price on Spotify Technology from $775.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Finally, Argus started coverage on Spotify Technology in a report on Monday, September 29th. They issued a “buy” rating and a $845.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $731.81.

About Spotify Technology

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.