Two Sigma Advisers LP Has $158.87 Million Holdings in Spotify Technology S.A. (NYSE:SPOT)

Two Sigma Advisers LP cut its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 63.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 355,100 shares of the company’s stock after selling 624,900 shares during the period. Two Sigma Advisers LP’s holdings in Spotify Technology were worth $158,865,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Principal Financial Group Inc. grew its holdings in shares of Spotify Technology by 11.8% during the third quarter. Principal Financial Group Inc. now owns 39,578 shares of the company’s stock worth $14,586,000 after purchasing an additional 4,192 shares during the last quarter. Merit Financial Group LLC lifted its position in Spotify Technology by 243.7% during the 4th quarter. Merit Financial Group LLC now owns 3,248 shares of the company’s stock worth $1,453,000 after buying an additional 2,303 shares in the last quarter. HB Wealth Management LLC lifted its position in Spotify Technology by 49.4% during the 4th quarter. HB Wealth Management LLC now owns 1,721 shares of the company’s stock worth $770,000 after buying an additional 569 shares in the last quarter. Hanseatic Management Services Inc. grew its holdings in Spotify Technology by 11.9% during the 4th quarter. Hanseatic Management Services Inc. now owns 432 shares of the company’s stock worth $193,000 after acquiring an additional 46 shares during the last quarter. Finally, Sandy Cove Advisors LLC increased its position in Spotify Technology by 7.9% in the 4th quarter. Sandy Cove Advisors LLC now owns 681 shares of the company’s stock valued at $305,000 after acquiring an additional 50 shares in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on SPOT. Wolfe Research raised shares of Spotify Technology from a “peer perform” rating to an “outperform” rating and set a $660.00 target price for the company in a research note on Monday, April 21st. Citigroup boosted their price objective on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Cantor Fitzgerald decreased their price objective on Spotify Technology from $600.00 to $520.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Loop Capital lifted their target price on Spotify Technology from $435.00 to $550.00 and gave the company a “hold” rating in a research note on Friday, May 2nd. Finally, Guggenheim upped their price target on Spotify Technology from $675.00 to $725.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Eight analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $606.48.

Spotify Technology Stock Performance

Shares of NYSE:SPOT opened at $656.02 on Monday. The company has a 50 day moving average price of $585.62 and a two-hundred day moving average price of $534.52. The company has a market capitalization of $134.29 billion, a PE ratio of 110.26 and a beta of 1.72. Spotify Technology S.A. has a 52 week low of $288.07 and a 52 week high of $663.55.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $2.29 by ($1.16). The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. Spotify Technology’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 EPS. On average, sell-side analysts forecast that Spotify Technology S.A. will post 10.3 earnings per share 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.