Slow Capital Inc. Sells 531 Shares of Spotify Technology S.A. (NYSE:SPOT)

Slow Capital Inc. lowered its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 15,928 shares of the company's stock after selling 531 shares during the quarter. Spotify Technology comprises 1.0% of Slow Capital Inc.'s investment portfolio, making the stock its 22nd biggest holding. Slow Capital Inc.'s holdings in Spotify Technology were worth $7,126,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SPOT. WCM Investment Management LLC raised its stake in shares of Spotify Technology by 18.5% during the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company's stock worth $1,430,142,000 after buying an additional 605,755 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Spotify Technology by 3.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company's stock worth $1,286,969,000 after purchasing an additional 102,786 shares during the last quarter. State Street Corp raised its holdings in Spotify Technology by 1.5% during the third quarter. State Street Corp now owns 1,997,323 shares of the company's stock worth $736,073,000 after purchasing an additional 28,864 shares during the last quarter. FMR LLC raised its holdings in shares of Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company's stock worth $577,788,000 after acquiring an additional 297,035 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Spotify Technology by 19.0% in the third quarter. Two Sigma Advisers LP now owns 980,000 shares of the company's stock worth $361,159,000 after acquiring an additional 156,300 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Performance

SPOT traded up $17.66 during trading on Tuesday, reaching $531.64. 2,241,567 shares of the company's stock were exchanged, compared to its average volume of 1,747,588. The company's fifty day moving average price is $474.92 and its 200-day moving average price is $398.39. Spotify Technology S.A. has a fifty-two week low of $213.31 and a fifty-two week high of $537.00. The firm has a market capitalization of $105.82 billion, a PE ratio of 144.47 and a beta of 1.62.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings results 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 during 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%. Spotify Technology's quarterly revenue was up 18.8% on a year-over-year basis. During the same period last year, the firm earned $0.36 EPS. Research analysts forecast that Spotify Technology S.A. will post 5.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SPOT has been the subject of a number of analyst reports. TD Cowen boosted their price target on Spotify Technology from $356.00 to $416.00 and gave the stock a "hold" rating in a report on Wednesday, November 13th. Canaccord Genuity Group upped their target price on Spotify Technology from $525.00 to $560.00 and gave the company a "buy" rating in a research note on Monday, December 2nd. The Goldman Sachs Group upped their target price on Spotify Technology from $490.00 to $550.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Macquarie upped their target price on Spotify Technology from $395.00 to $500.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Finally, Phillip Securities reiterated an "accumulate" rating and issued a $485.00 target price (up from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $446.21.

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.