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Accurate Wealth Management LLC Cuts Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Spotify Technology logo with Business Services background

Accurate Wealth Management LLC decreased its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 48.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 946 shares of the company's stock after selling 883 shares during the period. Accurate Wealth Management LLC's holdings in Spotify Technology were worth $435,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Prestige Wealth Management Group LLC bought a new stake in shares of Spotify Technology during the third quarter worth $26,000. Benjamin Edwards Inc. grew its position in Spotify Technology by 214.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company's stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Spotify Technology in the 3rd quarter worth about $33,000. Larson Financial Group LLC raised its position in Spotify Technology by 51.6% in the third quarter. Larson Financial Group LLC now owns 97 shares of the company's stock valued at $36,000 after purchasing an additional 33 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new position in Spotify Technology in the third quarter valued at about $40,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SPOT shares. Canaccord Genuity Group upped their price objective on Spotify Technology from $525.00 to $560.00 and gave the company a "buy" rating in a research note on Monday, December 2nd. Benchmark reaffirmed a "buy" rating and set a $520.00 price target on shares of Spotify Technology in a research note on Thursday. The Goldman Sachs Group boosted their price objective on shares of Spotify Technology from $490.00 to $550.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. raised their target price on Spotify Technology from $425.00 to $530.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Finally, Rosenblatt Securities lifted their target price on Spotify Technology from $399.00 to $438.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $441.21.

Check Out Our Latest Analysis on SPOT

Spotify Technology Trading Up 0.4 %

Shares of SPOT traded up $1.95 during trading hours on Thursday, reaching $492.64. The stock had a trading volume of 998,461 shares, compared to its average volume of 1,593,440. The firm has a 50-day simple moving average of $463.33 and a 200 day simple moving average of $386.77. Spotify Technology S.A. has a 12 month low of $191.88 and a 12 month high of $506.47. The company has a market capitalization of $98.06 billion, a price-to-earnings ratio of 133.86 and a beta of 1.62.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $3.99 billion during 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 firm's quarterly revenue was up 18.8% on a year-over-year basis. During the same period last year, the business posted $0.36 earnings per share. On average, equities analysts forecast that Spotify Technology S.A. will post 5.96 EPS for the current year.

Spotify Technology Company Profile

(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.

See Also

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

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