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Cwm LLC reduced its equity stake in Spotify Technology SA (NYSE:SPOT – Get Rating) by 28.2% in the fourth quarter, according to a recent disclosure to the Securities and Exchange Commission. The institutional investor owned 6,665 shares of the company after selling 2,613 of his shares during the quarter. His Cwm LLC stake in Spotify technology was valued at $526,000 as of the latest filing with the Securities and Exchange Commission.
Other institutional investors have also recently increased or decreased their stakes in the company. Riverview Trust Co increased its position in Spotify technology by 162.6% in the fourth quarter. Riverview Trust Co now owns 344 shares of the company worth $27,000 after purchasing an additional 213 of his shares last quarter. Stonebridge Capital Advisors LLC increased his stake in Spotify Technology by 1,300.0% in the third quarter. Stonebridge Capital Advisors LLC now owns 350 shares of the company worth $30,000 after purchasing an additional 325 of his shares during the previous quarter. Neo Ivy Capital Management increased its stake in Spotify Technology by 87.6% in the third quarter. Neo Ivy Capital Management now owns 362 shares of the company, valued at $31,000, after purchasing an additional 169 shares last quarter. Twin Lakes Capital Management LLC purchased a new position in Spotify Technology worth approximately $34,000 in the third quarter. Finally, First Manhattan Co. increased its position in Spotify technology by 65.8% in the first quarter. First Manhattan Co. now owns 252 shares worth $38,000 after purchasing an additional 100 shares during the previous quarter. 52.80% of the shares are owned by institutional investors and hedge funds.
Spotify Technology Stock Performance
Shares of Spotify technology opened at $133.76 on Friday. Spotify Technology SA hit a one-year low of $69.29 and a one-year high of $136.73. His 50-day moving average for this business is $127.47 and his 200-day moving average is $100.99.
Spotify Technology (NYSE:SPOT – Get Rating) last reported quarterly results on Tuesday, January 31. The company reported his earnings per share (EPS) for the quarter ($1.43), missing consensus expectations ($1.28) ($0.15). Spotify Technology’s return on equity was 17.78% and net profit margin was 3.48%. The business reported revenue of $3.23 billion in the third quarter, compared to consensus expectations of $3.26 billion. On average, sell-side analysts expect Spotify Technology SA to post -2.51 EPS for the current financial year.
Analyst Rating Change
Several equity research analysts have recently commented on the company. Morgan Stanley raised its target price for the Spotify technology from her $130.00 to her $160.00 in her research notes on Friday. Atlantic Securities upgraded Spotify Technology from a “neutral” rating to an “overweight” rating and set a price target of $160.00 in her Monday, February 6 report. Redburn Partners upgraded Spotify Technology’s stock from a “neutral” rating to a “buy” rating in his Wednesday, March 1 research note, with a price target of $140.00. Wells Fargo & Company upgraded Spotify Technology’s stock from an “equal-weighted” rating to an “overweight” rating and raised its price target from $121.00 to $180.00 in his Monday, Feb. 6 research notes. Finally, Deutsche Bank Aktiengesellschaft raised its price target for Spotify technology shares from $100.00 to $105.00 in a research note on Monday, January 30. Seven analysts rated the stock as Hold and 15 gave the company a Buy rating. Based on MarketBeat.com data, the stock currently has an average rating of ‘moderate buy’ with a consensus price target of $137.75.
Spotify Technology Profile
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Spotify Technology SA is a digital music service that gives music fans instant access to the world of music. It operates through its Premium and Ad-supported segments. The premium segment offers subscribers unlimited online and offline high-quality streaming access to music and podcasts on computers, tablets and mobile devices.
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