Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 6.4% in the third quarter, Holdings Channel reports. The firm owned 3,473 shares of the company’s stock after selling 236 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Spotify Technology were worth $1,280,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Angeles Investment Advisors LLC acquired a new stake in shares of Spotify Technology in the third quarter worth $480,000. Cumberland Partners Ltd raised its position in Spotify Technology by 16.7% in the third quarter. Cumberland Partners Ltd now owns 3,500 shares of the company’s stock valued at $1,290,000 after purchasing an additional 500 shares during the period. Aigen Investment Management LP lifted its stake in shares of Spotify Technology by 42.4% during the third quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock worth $3,612,000 after purchasing an additional 2,918 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new position in shares of Spotify Technology during the third quarter worth about $244,000. Finally, Rakuten Securities Inc. grew its stake in shares of Spotify Technology by 40.5% in the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after buying an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

SPOT has been the topic of several analyst reports. Barclays raised their target price on Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. DZ Bank raised shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 target price on the stock in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. TD Cowen upped their price objective on shares of Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. Finally, Phillip Securities reaffirmed an “accumulate” rating and set a $485.00 target price (up from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $421.69.

Spotify Technology Stock Down 4.0 %

Shares of NYSE:SPOT opened at $458.32 on Monday. The company’s 50-day moving average price is $378.15 and its 200 day moving average price is $338.61. The company has a market cap of $91.23 billion, a PE ratio of 124.54 and a beta of 1.56. Spotify Technology S.A. has a fifty-two week low of $170.62 and a fifty-two week high of $489.69.

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 return on equity of 19.07% and a net margin of 4.66%. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same period last year, the company earned $0.36 earnings per share. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. As a group, equities analysts anticipate that Spotify Technology S.A. will post 6.09 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.