Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Ignite Planners LLC

Ignite Planners LLC trimmed its position in Spotify Technology S.A. (NYSE:SPOT) by 18.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 594 shares of the company’s stock after selling 132 shares during the quarter. Ignite Planners LLC’s holdings in Spotify Technology were worth $219,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SPOT. Larson Financial Group LLC raised its holdings in shares of Spotify Technology by 86.0% in 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 in the last quarter. Transcendent Capital Group LLC acquired a new stake in Spotify Technology during the 2nd quarter worth $25,000. Benjamin Edwards Inc. raised its stake in Spotify Technology by 214.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Mather Group LLC. raised its stake in Spotify Technology by 9,900.0% during the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after acquiring an additional 99 shares in the last quarter. Finally, FinTrust Capital Advisors LLC raised its stake in Spotify Technology by 400.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock worth $33,000 after acquiring an additional 100 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Stock Up 2.1 %

Shares of NYSE SPOT opened at $370.43 on Wednesday. Spotify Technology S.A. has a 12-month low of $145.76 and a 12-month high of $389.23. The company has a market capitalization of $70.46 billion, a PE ratio of -552.88 and a beta of 1.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. The firm’s 50-day moving average is $345.28 and its two-hundred day moving average is $316.59.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.25. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.82 billion. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. The company’s revenue was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.69) earnings per share. Equities analysts anticipate that Spotify Technology S.A. will post 6.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SPOT shares. KeyCorp lifted their price target on shares of Spotify Technology from $420.00 to $440.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Bank of America lifted their price objective on shares of Spotify Technology from $370.00 to $380.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Evercore ISI lifted their price objective on shares of Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Rosenblatt Securities lifted their price objective on shares of Spotify Technology from $396.00 to $399.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Barclays lifted their price objective on shares of Spotify Technology from $350.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $359.14.

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.