Spotify Technology S.A. (NYSE:SPOT) Stake Lessened by Telemus Capital LLC

Telemus Capital LLC lessened its stake in Spotify Technology S.A. (NYSE:SPOT) by 19.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,122 shares of the company’s stock after selling 500 shares during the period. Telemus Capital LLC’s holdings in Spotify Technology were worth $399,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Technology Crossover Management XI Ltd. increased its stake in shares of Spotify Technology by 36.2% in the third quarter. Technology Crossover Management XI Ltd. now owns 1,297,323 shares of the company’s stock worth $200,618,000 after buying an additional 344,841 shares during the last quarter. Nordea Investment Management AB increased its stake in Spotify Technology by 7.9% during the fourth quarter. Nordea Investment Management AB now owns 248,659 shares of the company’s stock valued at $46,927,000 after purchasing an additional 18,105 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Spotify Technology by 410.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 97,771 shares of the company’s stock valued at $18,372,000 after purchasing an additional 78,609 shares during the last quarter. GSA Capital Partners LLP increased its stake in Spotify Technology by 452.4% during the third quarter. GSA Capital Partners LLP now owns 14,242 shares of the company’s stock valued at $2,202,000 after purchasing an additional 11,664 shares during the last quarter. Finally, Rheos Capital Works Inc. increased its stake in Spotify Technology by 205.7% during the fourth quarter. Rheos Capital Works Inc. now owns 107,000 shares of the company’s stock valued at $20,106,000 after purchasing an additional 72,000 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $272.33 on Tuesday. Spotify Technology S.A. has a twelve month low of $128.67 and a twelve month high of $313.16. The firm has a 50-day moving average of $267.69 and a two-hundred day moving average of $215.78.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, February 6th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.01. Spotify Technology had a negative net margin of 4.01% and a negative return on equity of 23.43%. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the company earned ($1.43) EPS. Spotify Technology’s revenue was up 16.0% on a year-over-year basis. Equities analysts predict that Spotify Technology S.A. will post 3.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SPOT shares. Loop Capital boosted their target price on shares of Spotify Technology from $165.00 to $250.00 and gave the company a “hold” rating in a research note on Monday. Barclays boosted their target price on shares of Spotify Technology from $270.00 to $335.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Raymond James upped their price target on shares of Spotify Technology from $260.00 to $320.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Benchmark upped their price target on shares of Spotify Technology from $290.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, HSBC initiated coverage on shares of Spotify Technology in a research report on Wednesday, March 27th. They set a “buy” rating and a $310.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $276.19.

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.