Spotify Technology S.A. (NYSE:SPOT) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC cut its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 99.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 838 shares of the company's stock after selling 346,686 shares during the quarter. International Assets Investment Management LLC's holdings in Spotify Technology were worth $384,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Park National Corp OH lifted its position in Spotify Technology by 4.1% during the fourth quarter. Park National Corp OH now owns 793 shares of the company's stock worth $355,000 after buying an additional 31 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Spotify Technology by 39.6% during the 4th quarter. GAMMA Investing LLC now owns 945 shares of the company's stock worth $423,000 after acquiring an additional 268 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Spotify Technology by 89.9% during the 4th quarter. Versant Capital Management Inc now owns 150 shares of the company's stock worth $67,000 after acquiring an additional 71 shares during the period. Principal Financial Group Inc. boosted its position in shares of Spotify Technology by 11.8% in the third quarter. Principal Financial Group Inc. now owns 39,578 shares of the company's stock worth $14,586,000 after acquiring an additional 4,192 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its holdings in Spotify Technology by 40.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 1,933 shares of the company's stock valued at $716,000 after purchasing an additional 560 shares during the period. Institutional investors and hedge funds own 84.09% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SPOT shares. Wells Fargo & Company lifted their price target on shares of Spotify Technology from $470.00 to $520.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their target price on Spotify Technology from $425.00 to $530.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Macquarie upped their price target on Spotify Technology from $395.00 to $500.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Canaccord Genuity Group lifted 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. Finally, Barclays increased their target price on shares of Spotify Technology from $385.00 to $475.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $433.36.

Spotify Technology Stock Down 4.2 %

Shares of SPOT traded down $19.91 during midday trading on Friday, hitting $459.82. The company had a trading volume of 2,966,125 shares, compared to its average volume of 1,735,368. The stock has a market cap of $91.53 billion, a price-to-earnings ratio of 124.95 and a beta of 1.62. The company's 50 day moving average price is $460.14 and its 200 day moving average price is $384.72. Spotify Technology S.A. has a 52 week low of $191.88 and a 52 week high of $506.47.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data 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). The firm 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 quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS. Equities analysts anticipate that Spotify Technology S.A. will post 6.02 EPS for the current fiscal year.

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.