One Madison Group LLC Sells 18,000 Shares of Spotify Technology $SPOT

One Madison Group LLC cut its stake in shares of Spotify Technology (NYSE:SPOT) by 26.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,000 shares of the company’s stock after selling 18,000 shares during the period. Spotify Technology comprises approximately 4.0% of One Madison Group LLC’s investment portfolio, making the stock its 11th biggest position. One Madison Group LLC’s holdings in Spotify Technology were worth $38,367,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of SPOT. Joel Isaacson & Co. LLC increased its holdings in Spotify Technology by 1.0% in the 2nd quarter. Joel Isaacson & Co. LLC now owns 1,551 shares of the company’s stock worth $1,190,000 after purchasing an additional 15 shares in the last quarter. Ignite Planners LLC grew its holdings in shares of Spotify Technology by 2.4% during the second quarter. Ignite Planners LLC now owns 637 shares of the company’s stock worth $489,000 after purchasing an additional 15 shares during the last quarter. Stonekeep Investments LLC increased its stake in shares of Spotify Technology by 2.1% in the second quarter. Stonekeep Investments LLC now owns 773 shares of the company’s stock valued at $593,000 after buying an additional 16 shares during the period. Moody National Bank Trust Division increased its stake in shares of Spotify Technology by 0.5% in the second quarter. Moody National Bank Trust Division now owns 2,931 shares of the company’s stock valued at $2,249,000 after buying an additional 16 shares during the period. Finally, Cloud Capital Management LLC raised its holdings in Spotify Technology by 4.8% in the 2nd quarter. Cloud Capital Management LLC now owns 392 shares of the company’s stock valued at $301,000 after buying an additional 18 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SPOT has been the topic of a number of research reports. Citigroup boosted their target price on shares of Spotify Technology from $715.00 to $750.00 and gave the stock a “neutral” rating in a report on Tuesday, September 9th. Argus began coverage on shares of Spotify Technology in a report on Monday, September 29th. They set a “buy” rating and a $845.00 price target on the stock. Phillip Securities raised shares of Spotify Technology from a “hold” rating to a “moderate buy” rating in a research note on Monday, November 10th. Guggenheim lowered their target price on Spotify Technology from $850.00 to $800.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, DZ Bank raised Spotify Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $758.86.

Spotify Technology Stock Down 1.8%

SPOT stock opened at $598.42 on Friday. The firm has a market cap of $123.21 billion, a price-to-earnings ratio of 94.09, a PEG ratio of 2.01 and a beta of 1.66. The company’s fifty day simple moving average is $633.14 and its 200 day simple moving average is $677.62. Spotify Technology has a 12-month low of $443.21 and a 12-month high of $785.00.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $1.96. The firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.23 billion. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.The business’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business posted $1.45 EPS. Research analysts expect that Spotify Technology 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.