Spotify Technology $SPOT Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC decreased its position in Spotify Technology (NYSE:SPOT) by 19.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 416,632 shares of the company’s stock after selling 101,610 shares during the quarter. Voya Investment Management LLC owned about 0.20% of Spotify Technology worth $290,577,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of Spotify Technology by 10.5% in the first quarter. Dimensional Fund Advisors LP now owns 225,260 shares of the company’s stock valued at $123,908,000 after buying an additional 21,494 shares during the last quarter. Raymond James Financial Inc. lifted its stake in shares of Spotify Technology by 2.2% in the 1st quarter. Raymond James Financial Inc. now owns 127,102 shares of the company’s stock valued at $69,910,000 after purchasing an additional 2,741 shares in the last quarter. Brooklyn Investment Group grew its stake in Spotify Technology by 30.7% during the first quarter. Brooklyn Investment Group now owns 260 shares of the company’s stock worth $143,000 after buying an additional 61 shares during the period. Hsbc Holdings PLC increased its holdings in Spotify Technology by 11.4% in the 1st quarter. Hsbc Holdings PLC now owns 80,485 shares of the company’s stock valued at $43,564,000 after purchasing an additional 8,205 shares in the last quarter. Finally, Credit Agricole S A raised its holdings in shares of Spotify Technology by 70.2% during the 1st quarter. Credit Agricole S A now owns 27,153 shares of the company’s stock valued at $14,935,000 after buying an additional 11,196 shares during the period. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Stock Down 0.4%

Shares of NYSE:SPOT opened at $563.90 on Friday. The company’s 50-day moving average price is $623.04 and its 200 day moving average price is $674.90. The company has a market cap of $116.10 billion, a PE ratio of 88.66, a P/E/G ratio of 1.87 and a beta of 1.66. Spotify Technology has a fifty-two week low of $443.21 and a fifty-two week high of $785.00.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Phillip Securities raised shares of Spotify Technology from a “hold” rating to a “moderate buy” rating in a report on Monday, November 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Spotify Technology in a report on Monday. Erste Group Bank downgraded shares of Spotify Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 5th. Citizens Jmp initiated coverage on shares of Spotify Technology in a report on Wednesday. They issued a “market outperform” rating and a $800.00 target price on the stock. Finally, The Goldman Sachs Group downgraded Spotify Technology from a “buy” rating to a “neutral” rating and lifted their target price for the company from $765.00 to $770.00 in a research note on Tuesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $760.23.

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.