Crossmark Global Holdings Inc. Sells 205 Shares of Spotify Technology S.A. (NYSE:SPOT)

Crossmark Global Holdings Inc. cut its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 17.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 970 shares of the company’s stock after selling 205 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Spotify Technology were worth $357,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SPOT. GQG Partners LLC bought a new stake in Spotify Technology in the first quarter valued at approximately $610,040,000. Bamco Inc. NY lifted its position in shares of Spotify Technology by 28.3% in the 1st quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock worth $228,164,000 after purchasing an additional 190,931 shares during the period. Swedbank AB boosted its stake in shares of Spotify Technology by 13.2% in the 2nd quarter. Swedbank AB now owns 852,526 shares of the company’s stock valued at $267,514,000 after purchasing an additional 99,730 shares during the last quarter. Perpetual Ltd increased its position in shares of Spotify Technology by 24.3% during the third quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock worth $279,965,000 after buying an additional 148,431 shares during the period. Finally, D1 Capital Partners L.P. raised its stake in Spotify Technology by 5.6% during the second quarter. D1 Capital Partners L.P. now owns 680,061 shares of the company’s stock worth $213,396,000 after buying an additional 36,000 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on SPOT shares. Macquarie upped their price target on shares of Spotify Technology from $395.00 to $500.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft upped their target price on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Guggenheim raised their target price on Spotify Technology from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Canaccord Genuity Group boosted their price target on Spotify Technology from $475.00 to $525.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Phillip Securities reaffirmed an “accumulate” rating and set a $485.00 price objective (up previously from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. One research 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. According to MarketBeat, Spotify Technology presently has a consensus rating of “Moderate Buy” and an average price target of $421.69.

Spotify Technology Stock Down 4.0 %

Spotify Technology stock opened at $458.32 on Monday. Spotify Technology S.A. has a 52 week low of $170.62 and a 52 week high of $489.69. The company’s 50 day moving average price is $378.15 and its two-hundred day moving average price is $338.61. The stock has a market cap of $91.23 billion, a P/E ratio of 124.54 and a beta of 1.56.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The business’s revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 earnings per share. On average, equities analysts anticipate that Spotify Technology S.A. will post 6.09 EPS for the current year.

About Spotify Technology

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.