Thrivent Financial for Lutherans Has $441,000 Stake in Spotify Technology S.A. (NYSE:SPOT)

Thrivent Financial for Lutherans reduced its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 78.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,198 shares of the company's stock after selling 4,456 shares during the quarter. Thrivent Financial for Lutherans' holdings in Spotify Technology were worth $441,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Aigen Investment Management LP raised its holdings in shares of Spotify Technology by 42.4% in the 3rd quarter. Aigen Investment Management LP now owns 9,800 shares of the company's stock worth $3,612,000 after purchasing an additional 2,918 shares in the last quarter. Pathway Capital Management LP grew its position in Spotify Technology by 23.8% in the third quarter. Pathway Capital Management LP now owns 57,340 shares of the company's stock worth $21,132,000 after buying an additional 11,042 shares during the last quarter. Perpetual Ltd increased its holdings in shares of Spotify Technology by 24.3% in the third quarter. Perpetual Ltd now owns 759,681 shares of the company's stock valued at $279,965,000 after buying an additional 148,431 shares in the last quarter. Jag Capital Management LLC acquired a new stake in shares of Spotify Technology during the 3rd quarter valued at $13,569,000. Finally, Northeast Investment Management boosted its stake in shares of Spotify Technology by 67.6% during the 3rd quarter. Northeast Investment Management now owns 12,991 shares of the company's stock worth $4,788,000 after acquiring an additional 5,240 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Pivotal Research boosted their target price on Spotify Technology from $510.00 to $565.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Piper Sandler boosted their price objective on Spotify Technology from $330.00 to $450.00 and gave the stock a "neutral" rating in a report on Wednesday, November 13th. Phillip Securities reiterated an "accumulate" rating and issued a $485.00 target price (up from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. Evercore ISI lifted their target price on shares of Spotify Technology from $420.00 to $460.00 and gave the stock an "outperform" rating in a research report on Thursday, August 29th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $340.00 price target on shares of Spotify Technology in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $422.90.

Spotify Technology Stock Performance

Shares of NYSE SPOT traded down $0.91 during mid-day trading on Friday, reaching $492.60. 830,324 shares of the company traded hands, compared to its average volume of 2,057,318. The stock has a market cap of $98.05 billion, a PE ratio of 134.11 and a beta of 1.61. The company's fifty day moving average is $413.44 and its two-hundred day moving average is $355.61. Spotify Technology S.A. has a fifty-two week low of $185.37 and a fifty-two week high of $506.47.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted 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 the consensus estimate of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. Spotify Technology's quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 earnings per share. Research analysts forecast that Spotify Technology S.A. will post 6.02 earnings per share for the current year.

About Spotify Technology

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.