Moody Lynn & Lieberson LLC Has $526,000 Position in Spotify Technology $SPOT

Moody Lynn & Lieberson LLC lowered its holdings in Spotify Technology (NYSE:SPOT) by 88.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 905 shares of the company’s stock after selling 7,073 shares during the period. Moody Lynn & Lieberson LLC’s holdings in Spotify Technology were worth $526,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SPOT. KERR FINANCIAL PLANNING Corp bought a new position in Spotify Technology during the third quarter worth about $26,000. Knuff & Co LLC bought a new stake in shares of Spotify Technology in the 2nd quarter valued at approximately $27,000. Heartwood Wealth Advisors LLC acquired a new position in shares of Spotify Technology in the 3rd quarter worth approximately $27,000. Greykasell Wealth Strategies Inc. raised its holdings in shares of Spotify Technology by 3,800.0% in the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 39 shares of the company’s stock worth $27,000 after buying an additional 38 shares in the last quarter. Finally, Total Investment Management Inc. bought a new position in shares of Spotify Technology during the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SPOT shares. KeyCorp decreased their price target on Spotify Technology from $830.00 to $720.00 and set an “overweight” rating on the stock in a research note on Monday, February 9th. Guggenheim dropped their price objective on Spotify Technology from $720.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Citigroup raised Spotify Technology from a “neutral” rating to a “buy” rating and set a $650.00 price objective for the company in a report on Friday, January 30th. The Goldman Sachs Group upgraded shares of Spotify Technology from a “neutral” rating to a “buy” rating and reduced their target price for the company from $735.00 to $700.00 in a research note on Friday, January 23rd. Finally, Cantor Fitzgerald lowered their target price on shares of Spotify Technology from $615.00 to $525.00 and set a “neutral” rating on the stock in a report on Wednesday, February 11th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $699.00.

Spotify Technology Price Performance

NYSE SPOT opened at $471.55 on Thursday. The stock’s 50 day simple moving average is $490.49 and its 200 day simple moving average is $576.36. Spotify Technology has a one year low of $405.00 and a one year high of $785.00. The firm has a market cap of $97.08 billion, a PE ratio of 48.92, a price-to-earnings-growth ratio of 1.06 and a beta of 1.66.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.16 by $2.00. The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.14 billion. Spotify Technology had a return on equity of 31.35% and a net margin of 13.16%.The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.88 EPS. As a group, equities analysts expect that Spotify Technology will post 10.3 earnings per share for the current year.

Spotify Technology Company Profile

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.