David J Yvars Group Cuts Position in Spotify Technology S.A. (NYSE:SPOT)

David J Yvars Group decreased its stake in Spotify Technology S.A. (NYSE:SPOT) by 0.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 11,379 shares of the company’s stock after selling 32 shares during the quarter. Spotify Technology makes up 3.1% of David J Yvars Group’s holdings, making the stock its 9th largest holding. David J Yvars Group’s holdings in Spotify Technology were worth $5,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Aigen Investment Management LP grew its position in shares of Spotify Technology by 42.4% in the 3rd quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock valued at $3,612,000 after acquiring an additional 2,918 shares during the period. Pathway Capital Management LP grew its holdings in Spotify Technology by 23.8% during the third quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock worth $21,132,000 after purchasing an additional 11,042 shares during the period. Perpetual Ltd increased its position in 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 last quarter. Covenant Asset Management LLC bought a new stake in Spotify Technology in the third quarter valued at approximately $3,364,000. Finally, Jag Capital Management LLC acquired a new stake in shares of Spotify Technology in the third quarter valued at approximately $13,569,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SPOT. The Goldman Sachs Group increased their price target on Spotify Technology from $490.00 to $550.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Benchmark raised their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Morgan Stanley upped their price target on shares of Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Bank of America raised their price objective on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. upped their target price on Spotify Technology from $425.00 to $530.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus price target of $433.36.

Spotify Technology Stock Performance

Shares of SPOT opened at $456.85 on Tuesday. Spotify Technology S.A. has a 52 week low of $191.88 and a 52 week high of $506.47. The stock has a market capitalization of $90.94 billion, a price-to-earnings ratio of 124.14 and a beta of 1.62. The stock has a fifty day moving average of $461.72 and a 200-day moving average of $385.72.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the prior year, the business posted $0.36 earnings per share. Spotify Technology’s revenue for the quarter was up 18.8% compared to the same quarter last year. As a group, equities analysts forecast that Spotify Technology S.A. will post 6.02 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.