Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Calamos Wealth Management LLC

Calamos Wealth Management LLC lessened its stake in Spotify Technology S.A. (NYSE:SPOT) by 42.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 5,350 shares of the company’s stock after selling 3,909 shares during the quarter. Calamos Wealth Management LLC’s holdings in Spotify Technology were worth $2,393,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SPOT. Jennison Associates LLC purchased a new stake in shares of Spotify Technology during the fourth quarter worth about $1,335,575,000. Forsta AP Fonden purchased a new stake in Spotify Technology during the 4th quarter worth approximately $619,600,000. WCM Investment Management LLC raised its holdings in shares of Spotify Technology by 18.5% during the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after acquiring an additional 605,755 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Spotify Technology by 36,910.0% in the third quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock valued at $128,073,000 after acquiring an additional 346,585 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after acquiring an additional 297,035 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Stock Performance

Spotify Technology stock opened at $549.45 on Tuesday. Spotify Technology S.A. has a fifty-two week low of $219.36 and a fifty-two week high of $560.36. The company has a market capitalization of $109.37 billion, a PE ratio of 149.31 and a beta of 1.63. The company has a 50 day moving average price of $480.71 and a 200-day moving average price of $405.25.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data 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 return on equity of 19.07% and a net margin of 4.66%. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter last year, the firm earned $0.36 EPS. The company’s revenue was up 18.8% compared to the same quarter last year. On average, analysts forecast that Spotify Technology S.A. will post 5.91 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on SPOT. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Rosenblatt Securities increased their price target on Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a report on Thursday, October 17th. TD Cowen boosted their price target on shares of Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. Wells Fargo & Company raised their target price on Spotify Technology from $470.00 to $520.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Benchmark restated a “buy” rating and issued a $520.00 price objective on shares of Spotify Technology in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $451.39.

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.