Mount Yale Investment Advisors LLC Sells 854 Shares of Spotify Technology S.A. (NYSE:SPOT)

Mount Yale Investment Advisors LLC lessened its holdings in Spotify Technology S.A. (NYSE:SPOT) by 4.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,789 shares of the company’s stock after selling 854 shares during the quarter. Spotify Technology makes up 0.6% of Mount Yale Investment Advisors LLC’s holdings, making the stock its 22nd largest holding. Mount Yale Investment Advisors LLC’s holdings in Spotify Technology were worth $7,958,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPOT. WCM Investment Management LLC lifted its holdings in shares of Spotify Technology by 18.5% in the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after buying an additional 605,755 shares during the period. International Assets Investment Management LLC grew its holdings in Spotify Technology by 36,910.0% during the 3rd quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock worth $128,073,000 after acquiring an additional 346,585 shares in the last quarter. FMR LLC increased its position in Spotify Technology by 23.4% during the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after purchasing an additional 297,035 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Spotify Technology by 3,948.3% in the 3rd quarter. Janus Henderson Group PLC now owns 264,233 shares of the company’s stock valued at $97,329,000 after purchasing an additional 257,706 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Spotify Technology by 179.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 380,214 shares of the company’s stock worth $140,120,000 after purchasing an additional 243,933 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

SPOT has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their target price on Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Barclays upped their price objective on Spotify Technology from $385.00 to $475.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Pivotal Research lifted their target price on Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Bank of America boosted their target price on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Rosenblatt Securities raised their price target on shares of Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $441.21.

Spotify Technology Price Performance

NYSE SPOT opened at $511.19 on Monday. Spotify Technology S.A. has a 1 year low of $210.34 and a 1 year high of $512.01. The company has a market capitalization of $101.75 billion, a PE ratio of 138.91 and a beta of 1.62. The company has a fifty day moving average of $473.74 and a 200 day moving average of $396.89.

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 the consensus estimate 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 quarterly revenue was up 18.8% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. Research analysts expect that Spotify Technology S.A. will post 5.91 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.