Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 90.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,844 shares of the company's stock after selling 343,370 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Spotify Technology were worth $16,483,000 at the end of the most recent reporting period.

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

Spotify Technology Trading Down 0.9 %

Shares of SPOT traded down $4.27 during midday trading on Friday, reaching $486.07. 2,021,276 shares of the stock were exchanged, compared to its average volume of 1,296,667. Spotify Technology S.A. has a 52 week low of $200.81 and a 52 week high of $506.47. The company's 50 day moving average is $468.82 and its two-hundred day moving average is $389.39. The company has a market capitalization of $96.75 billion, a P/E ratio of 132.08 and a beta of 1.62.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($0.30). The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The company's revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. On average, sell-side analysts expect that Spotify Technology S.A. will post 5.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SPOT shares. Barclays upped their price objective on Spotify Technology from $385.00 to $475.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Rosenblatt Securities raised their price target on shares of Spotify Technology from $399.00 to $438.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. Morgan Stanley lifted their price target on shares of Spotify Technology from $430.00 to $460.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. KeyCorp raised their target price on shares of Spotify Technology from $520.00 to $555.00 and gave the company an "overweight" rating in a research report on Friday, January 10th. Finally, Wells Fargo & Company upped their price target on shares of Spotify Technology from $470.00 to $520.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, Spotify Technology currently 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.