Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Yeomans Consulting Group Inc.

Yeomans Consulting Group Inc. reduced its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 17.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 734 shares of the company’s stock after selling 151 shares during the period. Yeomans Consulting Group Inc.’s holdings in Spotify Technology were worth $328,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Verde Capital Management boosted its holdings in Spotify Technology by 9.4% during the fourth quarter. Verde Capital Management now owns 8,274 shares of the company’s stock worth $3,702,000 after buying an additional 709 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of Spotify Technology by 58.0% during the 4th quarter. Avior Wealth Management LLC now owns 444 shares of the company’s stock valued at $199,000 after acquiring an additional 163 shares during the period. Raleigh Capital Management Inc. boosted its stake in shares of Spotify Technology by 20.1% during the 4th quarter. Raleigh Capital Management Inc. now owns 454 shares of the company’s stock worth $203,000 after acquiring an additional 76 shares in the last quarter. Wesbanco Bank Inc. grew its holdings in shares of Spotify Technology by 18.4% in the 4th quarter. Wesbanco Bank Inc. now owns 6,582 shares of the company’s stock worth $2,945,000 after acquiring an additional 1,021 shares during the period. Finally, Finley Financial LLC purchased a new position in Spotify Technology in the 4th quarter valued at approximately $95,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the company. UBS Group boosted their target price on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Bank of America boosted 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. Benchmark restated a “buy” rating and set a $520.00 target price on shares of Spotify Technology in a report on Thursday, January 16th. Rosenblatt Securities increased their price target on shares of Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Piper Sandler lifted their price objective on Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $441.21.

Spotify Technology Price Performance

Spotify Technology stock opened at $500.85 on Friday. The company has a market cap of $99.69 billion, a price-to-earnings ratio of 136.10 and a beta of 1.62. Spotify Technology S.A. has a 12 month low of $209.18 and a 12 month high of $510.84. The stock’s 50-day moving average is $472.22 and its 200-day moving average is $393.55.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same period last year, the company posted $0.36 earnings per share. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. Research analysts anticipate that Spotify Technology S.A. will post 5.91 EPS for the current year.

Spotify Technology Company 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.