Wealthcare Advisory Partners LLC Sells 84 Shares of Spotify Technology S.A. (NYSE:SPOT)

Wealthcare Advisory Partners LLC lowered its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,495 shares of the company’s stock after selling 84 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Spotify Technology were worth $669,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SPOT. Prestige Wealth Management Group LLC purchased a new position in shares of Spotify Technology during the 3rd quarter valued at about $26,000. Benjamin Edwards Inc. boosted its stake in shares of Spotify Technology by 214.8% during the 2nd 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 purchased a new position in shares of Spotify Technology during the 3rd quarter worth approximately $33,000. Larson Financial Group LLC raised its holdings in Spotify Technology by 51.6% in the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after purchasing an additional 33 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in Spotify Technology during the third quarter worth about $40,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Cantor Fitzgerald reissued a “neutral” rating and set a $340.00 price target on shares of Spotify Technology in a report on Monday, October 7th. Canaccord Genuity Group boosted their price target on Spotify Technology from $525.00 to $560.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Macquarie raised their price objective on Spotify Technology from $395.00 to $500.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Pivotal Research upped their target price on shares of Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Benchmark reissued a “buy” rating and issued a $520.00 target price on shares of Spotify Technology in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $441.21.

Spotify Technology Trading Down 0.9 %

SPOT opened at $486.07 on Tuesday. Spotify Technology S.A. has a 1-year low of $200.81 and a 1-year high of $506.47. The business has a 50 day moving average of $468.82 and a 200-day moving average of $390.44. The stock has a market capitalization of $96.75 billion, a price-to-earnings ratio of 132.08 and a beta of 1.62.

Spotify Technology (NYSE:SPOT) 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 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%. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. Equities analysts predict that Spotify Technology S.A. will post 5.96 EPS for the current 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.