David J Yvars Group Sells 32 Shares of Spotify Technology S.A. (NYSE:SPOT)

David J Yvars Group decreased its position in Spotify Technology S.A. (NYSE:SPOT) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,379 shares of the company’s stock after selling 32 shares during the period. Spotify Technology comprises approximately 3.1% of David J Yvars Group’s holdings, making the stock its 9th largest holding. David J Yvars Group’s holdings in Spotify Technology were worth $5,091,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. First Horizon Advisors Inc. grew its stake in shares of Spotify Technology by 5.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock valued at $176,000 after purchasing an additional 26 shares during the period. West Bancorporation Inc. raised its stake in Spotify Technology by 3.4% during the third quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock worth $305,000 after acquiring an additional 27 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Spotify Technology by 12.0% during the third quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock valued at $104,000 after acquiring an additional 30 shares during the period. Park National Corp OH boosted its stake in shares of Spotify Technology by 4.1% in the 4th quarter. Park National Corp OH now owns 793 shares of the company’s stock valued at $355,000 after purchasing an additional 31 shares in the last quarter. Finally, Washington Trust Advisors Inc. grew its holdings in shares of Spotify Technology by 12.0% in the 3rd quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock worth $110,000 after purchasing an additional 32 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on SPOT. Canaccord Genuity Group boosted their price target on shares of Spotify Technology from $525.00 to $560.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Pivotal Research boosted their target price on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Phillip Securities reaffirmed an “accumulate” rating and set a $485.00 price target (up from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. TD Cowen boosted their price objective on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. Finally, Benchmark raised their target price on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $433.36.

Spotify Technology Stock Down 0.6 %

Shares of SPOT stock opened at $456.85 on Tuesday. Spotify Technology S.A. has a 12-month low of $191.88 and a 12-month high of $506.47. The firm has a fifty day moving average of $461.72 and a 200-day moving average of $385.72. The firm has a market capitalization of $90.94 billion, a price-to-earnings ratio of 124.14 and a beta of 1.62.

Spotify Technology (NYSE:SPOT) last posted 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 business 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 firm’s revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 earnings per share. Research analysts expect that Spotify Technology S.A. will post 6.02 earnings per share 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.