CTC Alternative Strategies Ltd. trimmed its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 54.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,987 shares of the company's stock after selling 3,566 shares during the period. Spotify Technology comprises about 1.4% of CTC Alternative Strategies Ltd.'s investment portfolio, making the stock its 14th largest position. CTC Alternative Strategies Ltd.'s holdings in Spotify Technology were worth $1,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cetera Investment Advisers grew its holdings in shares of Spotify Technology by 95.2% during the first quarter. Cetera Investment Advisers now owns 13,332 shares of the company's stock worth $3,518,000 after purchasing an additional 6,502 shares during the last quarter. Cetera Advisors LLC increased its position in Spotify Technology by 19.8% in the 1st quarter. Cetera Advisors LLC now owns 3,185 shares of the company's stock valued at $840,000 after acquiring an additional 526 shares in the last quarter. Mather Group LLC. raised its stake in shares of Spotify Technology by 9,900.0% in the second quarter. Mather Group LLC. now owns 100 shares of the company's stock worth $31,000 after acquiring an additional 99 shares during the last quarter. Simplicity Wealth LLC lifted its position in shares of Spotify Technology by 7.4% during the second quarter. Simplicity Wealth LLC now owns 1,854 shares of the company's stock worth $582,000 after purchasing an additional 127 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC bought a new stake in shares of Spotify Technology during the second quarter valued at approximately $221,000. Institutional investors and hedge funds own 84.09% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on SPOT shares. Phillip Securities restated an "accumulate" rating and issued a $485.00 price objective (up previously from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. Morgan Stanley boosted their target price on Spotify Technology from $430.00 to $460.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. raised their price target on Spotify Technology from $425.00 to $530.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Barclays boosted their price objective on Spotify Technology from $385.00 to $475.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $340.00 target price on shares of Spotify Technology in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $422.90.
Read Our Latest Report on Spotify Technology
Spotify Technology Price Performance
NYSE SPOT traded up $5.12 on Friday, hitting $498.63. 1,841,230 shares of the stock were exchanged, compared to its average volume of 4,370,573. The business's fifty day moving average is $416.02 and its 200 day moving average is $357.72. Spotify Technology S.A. has a 52 week low of $185.37 and a 52 week high of $506.47. The company has a market capitalization of $99.25 billion, a PE ratio of 135.50 and a beta of 1.61.
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 (EPS) for the quarter, missing the consensus estimate 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%. Spotify Technology's quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 EPS. Analysts predict that Spotify Technology S.A. will post 6.02 EPS for the current fiscal year.
Spotify Technology 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.
Further Reading
Before you consider Spotify Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Spotify Technology wasn't on the list.
While Spotify Technology currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by clicking the link below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
