Moody Lynn & Lieberson LLC Sells 7,073 Shares of Spotify Technology $SPOT

Moody Lynn & Lieberson LLC trimmed its holdings in shares of Spotify Technology (NYSE:SPOT) by 88.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 905 shares of the company’s stock after selling 7,073 shares during the quarter. Moody Lynn & Lieberson LLC’s holdings in Spotify Technology were worth $526,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Helios Capital Management PTE. Ltd. boosted its position in Spotify Technology by 56.3% during the third quarter. Helios Capital Management PTE. Ltd. now owns 7,500 shares of the company’s stock worth $5,235,000 after purchasing an additional 2,700 shares during the period. Bessemer Group Inc. raised its position in shares of Spotify Technology by 35.1% in the third quarter. Bessemer Group Inc. now owns 682,639 shares of the company’s stock valued at $476,483,000 after purchasing an additional 177,310 shares during the period. Truxt Investmentos Ltda. bought a new position in shares of Spotify Technology in the third quarter valued at approximately $2,093,000. Ownership Capital B.V. acquired a new stake in shares of Spotify Technology in the third quarter worth $2,769,000. Finally, Generali Asset Management SPA SGR lifted its stake in shares of Spotify Technology by 30.9% in the third quarter. Generali Asset Management SPA SGR now owns 68,023 shares of the company’s stock worth $46,692,000 after buying an additional 16,054 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Erste Group Bank lowered shares of Spotify Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 5th. Daiwa Securities Group started coverage on shares of Spotify Technology in a research report on Thursday, March 26th. They set an “outperform” rating and a $535.00 target price for the company. Sanford C. Bernstein decreased their price target on shares of Spotify Technology from $830.00 to $650.00 and set an “outperform” rating for the company in a report on Wednesday, January 14th. The Goldman Sachs Group raised Spotify Technology from a “neutral” rating to a “buy” rating and lowered their price target for the company from $735.00 to $700.00 in a research report on Friday, January 23rd. Finally, Pivotal Research lowered Spotify Technology from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $875.00 to $420.00 in a research note on Wednesday, February 11th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $699.00.

Spotify Technology Trading Down 2.8%

Shares of SPOT stock opened at $471.55 on Thursday. Spotify Technology has a 12 month low of $405.00 and a 12 month high of $785.00. The company has a market capitalization of $97.08 billion, a P/E ratio of 48.92, a P/E/G ratio of 1.06 and a beta of 1.66. The stock has a 50 day moving average of $490.49 and a two-hundred day moving average of $576.36.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, February 10th. The company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.16 by $2.00. The business had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Spotify Technology had a return on equity of 31.35% and a net margin of 13.16%.Spotify Technology’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.88 earnings per share. Sell-side analysts predict that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

About Spotify Technology

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.