Bwcp LP Sells 35,877 Shares of Spotify Technology S.A. (NYSE:SPOT)

Bwcp LP lessened its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 40.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 51,997 shares of the company’s stock after selling 35,877 shares during the period. Spotify Technology accounts for about 4.1% of Bwcp LP’s investment portfolio, making the stock its 12th biggest holding. Bwcp LP’s holdings in Spotify Technology were worth $16,316,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC raised its position in shares of Spotify Technology by 86.0% during the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after purchasing an additional 43 shares during the period. Transcendent Capital Group LLC bought a new stake in Spotify Technology during the second quarter valued at about $25,000. Benjamin Edwards Inc. lifted its position in shares of Spotify Technology by 214.8% in the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Mather Group LLC. boosted 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 period. Finally, FinTrust Capital Advisors LLC grew its position in shares of Spotify Technology by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of SPOT stock opened at $380.31 on Wednesday. The stock has a 50 day moving average price of $334.46 and a 200 day moving average price of $309.21. The firm has a market capitalization of $75.70 billion, a P/E ratio of -567.62 and a beta of 1.57. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56. Spotify Technology S.A. has a 52-week low of $145.76 and a 52-week high of $382.60.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.25. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.82 billion. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period last year, the company earned ($1.69) earnings per share. As a group, sell-side analysts predict that Spotify Technology S.A. will post 6.26 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. TD Cowen upped their price target on Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. UBS Group upped their target price on shares of Spotify Technology from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Pivotal Research lifted their price target on shares of Spotify Technology from $460.00 to $510.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Wolfe Research initiated coverage on shares of Spotify Technology in a report on Friday, July 12th. They set an “outperform” rating and a $390.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $340.00 target price on shares of Spotify Technology in a report on Monday. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $359.14.

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.