Knights of Columbus Asset Advisors LLC Has $1.35 Million Stake in Spotify Technology $SPOT

Knights of Columbus Asset Advisors LLC trimmed its stake in Spotify Technology (NYSE:SPOT) by 35.4% during the third quarter, HoldingsChannel.com reports. The fund owned 1,940 shares of the company’s stock after selling 1,063 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Spotify Technology were worth $1,354,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Impact Partnership Wealth LLC lifted its holdings in shares of Spotify Technology by 36.3% during the third quarter. Impact Partnership Wealth LLC now owns 1,777 shares of the company’s stock valued at $1,240,000 after acquiring an additional 473 shares during the period. Foundations Investment Advisors LLC increased its position in shares of Spotify Technology by 18.8% during the 3rd quarter. Foundations Investment Advisors LLC now owns 815 shares of the company’s stock worth $569,000 after purchasing an additional 129 shares in the last quarter. Fidelis Capital Partners LLC increased its position in shares of Spotify Technology by 7.4% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,065 shares of the company’s stock worth $743,000 after purchasing an additional 73 shares in the last quarter. Flossbach Von Storch SE lifted its holdings in Spotify Technology by 96.6% during the 3rd quarter. Flossbach Von Storch SE now owns 10,091 shares of the company’s stock valued at $7,044,000 after purchasing an additional 4,957 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its position in Spotify Technology by 9,592.3% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,260 shares of the company’s stock valued at $879,000 after buying an additional 1,247 shares in the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Stock Down 0.8%

SPOT stock opened at $499.69 on Friday. Spotify Technology has a twelve month low of $475.01 and a twelve month high of $785.00. The company has a market cap of $102.88 billion, a P/E ratio of 78.57, a PEG ratio of 0.96 and a beta of 1.66. The business has a fifty day moving average of $558.79 and a 200-day moving average of $637.01.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $3.83 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $1.96. The firm had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.23 billion. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.The company’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the company earned $1.45 earnings per share. As a group, equities research analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SPOT has been the subject of several recent analyst reports. Barclays dropped their price objective on shares of Spotify Technology from $700.00 to $625.00 and set an “overweight” rating for the company in a report on Tuesday, January 20th. DZ Bank upgraded Spotify Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Guggenheim dropped their price target on Spotify Technology from $800.00 to $750.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Erste Group Bank downgraded Spotify Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 5th. Finally, Wells Fargo & Company reduced their price objective on Spotify Technology from $750.00 to $710.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $727.71.

Spotify Technology Company Profile

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.