Winslow Capital Management LLC Sells 195,207 Shares of Spotify Technology $SPOT

Winslow Capital Management LLC decreased its holdings in shares of Spotify Technology (NYSE:SPOT) by 17.3% during the second quarter, Holdings Channel.com reports. The firm owned 930,868 shares of the company’s stock after selling 195,207 shares during the period. Spotify Technology accounts for about 2.4% of Winslow Capital Management LLC’s portfolio, making the stock its 15th largest position. Winslow Capital Management LLC’s holdings in Spotify Technology were worth $714,292,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Knuff & Co LLC purchased a new stake in shares of Spotify Technology during the 2nd quarter valued at about $27,000. Sound Income Strategies LLC increased its stake in Spotify Technology by 156.3% during the second quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock worth $31,000 after acquiring an additional 25 shares during the last quarter. GFG Capital LLC purchased a new stake in Spotify Technology during the second quarter valued at approximately $33,000. Avion Wealth bought a new stake in shares of Spotify Technology in the 2nd quarter valued at approximately $38,000. Finally, Truvestments Capital LLC purchased a new position in shares of Spotify Technology in the 1st quarter worth approximately $34,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Up 0.8%

Shares of NYSE:SPOT opened at $565.62 on Monday. The business’s 50 day moving average is $642.44 and its 200 day moving average is $679.58. The stock has a market cap of $116.46 billion, a P/E ratio of 88.93, a price-to-earnings-growth ratio of 1.87 and a beta of 1.66. Spotify Technology has a 52-week low of $443.21 and a 52-week high of $785.00.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $1.96. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.The business had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same quarter in the prior year, the company earned $1.45 EPS. The business’s revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Spotify Technology will post 10.3 EPS for the current fiscal year.

Analysts Set New Price Targets

SPOT has been the subject of several recent analyst reports. Erste Group Bank lowered shares of Spotify Technology from a “buy” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. upped their price target on shares of Spotify Technology from $740.00 to $805.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Barclays reduced their price objective on shares of Spotify Technology from $750.00 to $700.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Oppenheimer boosted their target price on Spotify Technology from $750.00 to $825.00 and gave the company an “outperform” rating in a research report on Monday, August 18th. Finally, Rosenblatt Securities reduced their price target on Spotify Technology from $700.00 to $670.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and an average price target of $758.86.

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.