Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC reduced its holdings in Spotify Technology S.A. (NYSE:SPOT) by 9.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,346 shares of the company’s stock after selling 256 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in Spotify Technology were worth $865,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. WCM Investment Management LLC grew its holdings in Spotify Technology by 18.5% in the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after buying an additional 605,755 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Spotify Technology by 3.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock valued at $1,286,969,000 after purchasing an additional 102,786 shares during the period. Swedbank AB grew its holdings in Spotify Technology by 13.2% in the second quarter. Swedbank AB now owns 852,526 shares of the company’s stock valued at $267,514,000 after purchasing an additional 99,730 shares during the period. Perpetual Ltd increased its position in Spotify Technology by 24.3% during the third quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock worth $279,965,000 after purchasing an additional 148,431 shares during the last quarter. Finally, D1 Capital Partners L.P. raised its stake in Spotify Technology by 5.6% during the second quarter. D1 Capital Partners L.P. now owns 680,061 shares of the company’s stock worth $213,396,000 after purchasing an additional 36,000 shares during the period. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Price Performance

SPOT opened at $475.04 on Friday. Spotify Technology S.A. has a 12-month low of $178.73 and a 12-month high of $489.69. The stock has a market capitalization of $94.56 billion, a PE ratio of 129.09 and a beta of 1.56. The firm’s fifty day moving average price is $391.61 and its 200 day moving average price is $344.27.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 EPS. On average, equities research analysts forecast that Spotify Technology S.A. will post 6.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Canaccord Genuity Group boosted their price objective on shares of Spotify Technology from $475.00 to $525.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Phillip Securities reissued an “accumulate” rating and set a $485.00 price target (up previously from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft raised their price objective on Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Macquarie boosted their target price on Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company raised their price target on shares of Spotify Technology from $470.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, Spotify Technology has a consensus rating of “Moderate Buy” and an average target price of $421.69.

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.