Spotify Technology S.A. (NYSE:SPOT) Stock Position Lowered by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. trimmed its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 22.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 750 shares of the company’s stock after selling 220 shares during the period. Crossmark Global Holdings Inc.’s holdings in Spotify Technology were worth $336,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its stake in Spotify Technology by 5.8% in the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock valued at $176,000 after purchasing an additional 26 shares in the last quarter. West Bancorporation Inc. raised its holdings in shares of Spotify Technology by 3.4% during the 3rd quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock valued at $305,000 after purchasing an additional 27 shares in the last quarter. Avior Wealth Management LLC increased its holdings in shares of Spotify Technology by 12.0% during the 3rd quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock valued at $104,000 after acquiring an additional 30 shares during the last quarter. Park National Corp OH grew its holdings in Spotify Technology by 4.1% during the fourth quarter. Park National Corp OH now owns 793 shares of the company’s stock valued at $355,000 after purchasing an additional 31 shares during the last quarter. Finally, Washington Trust Advisors Inc. grew its holdings in Spotify Technology by 12.0% during the third quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock valued at $110,000 after purchasing an additional 32 shares during the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SPOT. Macquarie upped their price target on Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Bank of America lifted their target price on shares of Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reissued a “neutral” rating and issued a $340.00 price target on shares of Spotify Technology in a research report on Monday, October 7th. Wolfe Research restated a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Finally, KeyCorp upped their price objective on Spotify Technology from $520.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, Spotify Technology currently has an average rating of “Moderate Buy” and an average price target of $441.21.

Spotify Technology Trading Up 1.9 %

SPOT stock opened at $511.19 on Monday. The stock has a market capitalization of $101.75 billion, a price-to-earnings ratio of 138.91 and a beta of 1.62. The firm’s 50-day moving average price is $473.74 and its two-hundred day moving average price is $396.25. Spotify Technology S.A. has a 12-month low of $210.34 and a 12-month high of $512.01.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. Equities analysts predict that Spotify Technology S.A. will post 5.91 EPS for the current year.

Spotify Technology 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.