Claro Advisors LLC Has $464,000 Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Claro Advisors LLC reduced its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 12.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,259 shares of the company’s stock after selling 173 shares during the quarter. Claro Advisors LLC’s holdings in Spotify Technology were worth $464,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. WCM Investment Management LLC raised its position in shares of Spotify Technology by 18.5% during the third 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 during the period. Bamco Inc. NY grew its position in Spotify Technology by 28.3% in the 1st quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock valued at $228,164,000 after purchasing an additional 190,931 shares during the period. Swedbank AB increased its stake in Spotify Technology by 13.2% during the 2nd 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 in the last quarter. Perpetual Ltd raised its holdings 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 buying an additional 148,431 shares during the last quarter. Finally, D1 Capital Partners L.P. lifted its stake in shares of Spotify Technology by 5.6% in the second quarter. D1 Capital Partners L.P. now owns 680,061 shares of the company’s stock valued at $213,396,000 after buying an additional 36,000 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SPOT shares. Phillip Securities reissued an “accumulate” rating and set a $485.00 target price (up from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. Rosenblatt Securities boosted their price objective on Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Evercore ISI raised their target price on Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. The Goldman Sachs Group upped their price target on Spotify Technology from $430.00 to $490.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Piper Sandler increased their price target on Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. One equities 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $421.69.

Spotify Technology Price Performance

Shares of SPOT stock opened at $454.20 on Tuesday. The stock has a market capitalization of $90.41 billion, a price-to-earnings ratio of 123.42 and a beta of 1.56. The company’s fifty day simple moving average is $380.76 and its two-hundred day simple moving average is $339.74. Spotify Technology S.A. has a 1 year low of $175.00 and a 1 year high of $489.69.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period last year, the company posted $0.36 EPS. Equities research analysts anticipate that Spotify Technology S.A. will post 6.09 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.