Riposte Capital LLC Trims Holdings in Spotify Technology (NYSE:SPOT)

Riposte Capital LLC lowered its position in Spotify Technology (NYSE:SPOT) by 25.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,000 shares of the company’s stock after selling 5,000 shares during the period. Spotify Technology makes up approximately 1.5% of Riposte Capital LLC’s investment portfolio, making the stock its 11th largest holding. Riposte Capital LLC’s holdings in Spotify Technology were worth $8,250,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SPOT. HM Payson & Co. raised its position in shares of Spotify Technology by 39.1% in the first quarter. HM Payson & Co. now owns 64 shares of the company’s stock worth $35,000 after acquiring an additional 18 shares during the period. North Star Investment Management Corp. boosted its holdings in Spotify Technology by 52.8% in the 1st quarter. North Star Investment Management Corp. now owns 55 shares of the company’s stock worth $30,000 after buying an additional 19 shares during the last quarter. Adero Partners LLC increased its stake in Spotify Technology by 0.7% during the 1st quarter. Adero Partners LLC now owns 2,635 shares of the company’s stock worth $1,449,000 after buying an additional 19 shares in the last quarter. Covenant Partners LLC raised its holdings in shares of Spotify Technology by 2.5% during the fourth quarter. Covenant Partners LLC now owns 1,024 shares of the company’s stock valued at $458,000 after acquiring an additional 25 shares during the last quarter. Finally, Trifecta Capital Advisors LLC lifted its position in shares of Spotify Technology by 33.3% in the first quarter. Trifecta Capital Advisors LLC now owns 100 shares of the company’s stock valued at $55,000 after acquiring an additional 25 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Up 0.9%

Shares of SPOT opened at $680.41 on Friday. The company has a market capitalization of $139.29 billion, a price-to-earnings ratio of 112.84, a price-to-earnings-growth ratio of 1.79 and a beta of 1.68. Spotify Technology has a 52-week low of $300.57 and a 52-week high of $785.00. The stock has a 50 day moving average price of $700.63 and a 200 day moving average price of $615.88.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, April 29th. The company reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $2.29 by ($1.16). Spotify Technology had a net margin of 7.19% and a return on equity of 22.53%. The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same period last year, the business earned $0.97 earnings per share. The company’s quarterly revenue was up 15.2% on a year-over-year basis. On average, equities analysts anticipate that Spotify Technology will post 10.3 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Pivotal Research raised their price objective on Spotify Technology from $800.00 to $900.00 and gave the company a “buy” rating in a report on Tuesday, June 17th. Benchmark upped their price objective on shares of Spotify Technology from $700.00 to $840.00 and gave the company a “buy” rating in a report on Thursday, July 10th. Phillip Securities raised shares of Spotify Technology to a “moderate sell” rating in a research note on Monday, May 5th. Wells Fargo & Company boosted their target price on shares of Spotify Technology from $690.00 to $740.00 and gave the company an “overweight” rating in a report on Friday, March 28th. Finally, UBS Group raised their price target on shares of Spotify Technology from $680.00 to $895.00 and gave the stock a “buy” rating in a report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, Spotify Technology currently has an average rating of “Moderate Buy” and an average price target of $727.52.

About Spotify Technology

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.