Accretive Wealth Partners LLC Sells 236 Shares of Spotify Technology S.A. (NYSE:SPOT)

Accretive Wealth Partners LLC lowered its stake in Spotify Technology S.A. (NYSE:SPOT) by 5.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 4,358 shares of the company’s stock after selling 236 shares during the period. Accretive Wealth Partners LLC’s holdings in Spotify Technology were worth $1,606,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SPOT. Swedbank AB bought a new stake in shares of Spotify Technology in the first quarter valued at about $198,663,000. WCM Investment Management LLC grew its position in shares of Spotify Technology by 18.5% during the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after purchasing an additional 605,755 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Spotify Technology by 36,910.0% during the third quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock worth $128,073,000 after purchasing an additional 346,585 shares during the period. Sei Investments Co. raised its position in shares of Spotify Technology by 106.8% in the second quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock valued at $202,828,000 after buying an additional 333,782 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Spotify Technology by 179.0% in the third quarter. Assenagon Asset Management S.A. now owns 380,214 shares of the company’s stock valued at $140,120,000 after buying an additional 243,933 shares during the period. 84.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Spotify Technology from $425.00 to $530.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Bank of America upped their price target on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. KeyCorp lifted their price objective on shares of Spotify Technology from $490.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Wells Fargo & Company lifted their target price on Spotify Technology from $470.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, Canaccord Genuity Group increased their target price on shares of Spotify Technology from $475.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $421.69.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $472.50 on Friday. The business’s 50-day moving average is $388.87 and its 200-day moving average is $342.73. Spotify Technology S.A. has a 1 year low of $178.73 and a 1 year high of $489.69. The company has a market capitalization of $94.05 billion, a price-to-earnings ratio of 128.40 and a beta of 1.56.

Spotify Technology (NYSE:SPOT) last issued 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 analyst estimates of $4.03 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. The business’s quarterly revenue was up 18.8% on a year-over-year basis. Analysts anticipate that Spotify Technology S.A. will post 6.02 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.