Alamar Capital Management LLC trimmed its holdings in shares of Spotify Technology S.A. (NYSE:SPOT – Get Rating) by 18.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,704 shares of the company's stock after selling 2,267 shares during the period. Alamar Capital Management LLC's holdings in Spotify Technology were worth $911,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the business. First Manhattan Co. raised its stake in Spotify Technology by 65.8% in the 1st quarter. First Manhattan Co. now owns 252 shares of the company's stock valued at $38,000 after acquiring an additional 100 shares during the period. Baldwin Brothers LLC MA raised its stake in Spotify Technology by 41.5% in the 1st quarter. Baldwin Brothers LLC MA now owns 283 shares of the company's stock valued at $43,000 after acquiring an additional 83 shares during the period. MBM Wealth Consultants LLC bought a new stake in Spotify Technology in the 1st quarter valued at about $45,000. Quadrant Capital Group LLC raised its stake in Spotify Technology by 84.4% in the 1st quarter. Quadrant Capital Group LLC now owns 343 shares of the company's stock valued at $51,000 after acquiring an additional 157 shares during the period. Finally, BDO Wealth Advisors LLC raised its stake in Spotify Technology by 82.5% in the 1st quarter. BDO Wealth Advisors LLC now owns 365 shares of the company's stock valued at $55,000 after acquiring an additional 165 shares during the period. 55.32% of the stock is currently owned by institutional investors.
Get Spotify Technology alerts:Spotify Technology Stock Performance
NYSE:SPOT traded down $0.75 during mid-day trading on Wednesday, reaching $96.51. The stock had a trading volume of 6,993 shares, compared to its average volume of 1,107,457. The firm has a 50 day moving average price of $110.35 and a two-hundred day moving average price of $115.21. The stock has a market capitalization of $18.36 billion, a P/E ratio of -69.97 and a beta of 1.81. Spotify Technology S.A. has a one year low of $89.03 and a one year high of $305.60.
Spotify Technology (NYSE:SPOT – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.23). Spotify Technology had a negative net margin of 0.24% and a negative return on equity of 1.15%. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the previous year, the firm posted ($0.23) EPS. The business's revenue for the quarter was up 22.9% compared to the same quarter last year. Research analysts forecast that Spotify Technology S.A. will post -2.03 earnings per share for the current year.Analyst Upgrades and Downgrades
SPOT has been the subject of a number of recent analyst reports. Raymond James raised Spotify Technology from a "market perform" rating to an "outperform" rating and set a $150.00 target price for the company in a report on Monday, June 6th. The Goldman Sachs Group reduced their target price on Spotify Technology from $150.00 to $133.00 and set a "neutral" rating for the company in a report on Thursday, June 9th. JPMorgan Chase & Co. reduced their target price on Spotify Technology from $150.00 to $145.00 and set an "overweight" rating for the company in a report on Wednesday, June 29th. Evercore ISI reduced their target price on Spotify Technology from $235.00 to $230.00 and set an "outperform" rating for the company in a report on Thursday, July 7th. Finally, KeyCorp reduced their target price on Spotify Technology from $210.00 to $146.00 and set an "overweight" rating for the company in a report on Tuesday, July 26th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $183.42.
Spotify Technology Company Profile
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Spotify Technology SA, together with its subsidiaries, provides audio streaming services worldwide. It operates through Premium and Ad-Supported segments. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.
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