Spotify Technology S.A. (NYSE:SPOT) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System lessened its holdings in Spotify Technology S.A. (NYSE:SPOTFree Report) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,699 shares of the company’s stock after selling 9,480 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.08% of Spotify Technology worth $23,923,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SPOT. Cetera Advisor Networks LLC boosted its holdings in Spotify Technology by 142.4% in the first quarter. Cetera Advisor Networks LLC now owns 3,071 shares of the company’s stock worth $464,000 after purchasing an additional 1,804 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Spotify Technology by 19.8% during the first quarter. Private Advisor Group LLC now owns 4,909 shares of the company’s stock valued at $741,000 after acquiring an additional 811 shares during the period. BlackRock Inc. boosted its holdings in shares of Spotify Technology by 6.3% during the first quarter. BlackRock Inc. now owns 4,046,153 shares of the company’s stock valued at $611,049,000 after acquiring an additional 241,026 shares during the period. Cibc World Market Inc. boosted its holdings in shares of Spotify Technology by 22.4% during the first quarter. Cibc World Market Inc. now owns 4,823 shares of the company’s stock valued at $728,000 after acquiring an additional 883 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Spotify Technology by 68.6% during the first quarter. Dimensional Fund Advisors LP now owns 190,255 shares of the company’s stock valued at $28,735,000 after acquiring an additional 77,379 shares during the period. Institutional investors and hedge funds own 56.89% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SPOT shares. Wells Fargo & Company boosted their price target on shares of Spotify Technology from $250.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Pivotal Research boosted their price target on shares of Spotify Technology from $265.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. KeyCorp boosted their price target on shares of Spotify Technology from $255.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday. Barclays upped their price objective on shares of Spotify Technology from $186.00 to $216.00 and gave the stock an “overweight” rating in a report on Friday, December 8th. Finally, Robert W. Baird upped their price objective on shares of Spotify Technology from $185.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, December 8th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $223.36.

Read Our Latest Report on Spotify Technology

Spotify Technology Trading Up 0.3 %

NYSE SPOT opened at $240.77 on Friday. The stock’s 50-day moving average price is $202.91 and its two-hundred day moving average price is $173.12. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.27 and a current ratio of 1.29. Spotify Technology S.A. has a 1 year low of $114.64 and a 1 year high of $248.67.

Spotify Technology (NYSE:SPOTGet Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.01. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.72 billion. Spotify Technology had a negative return on equity of 23.43% and a negative net margin of 4.01%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.43) EPS. As a group, equities research analysts expect that Spotify Technology S.A. will post 3.31 EPS for the current year.

Spotify Technology Profile

(Free Report)

Spotify Technology SA, together with its subsidiaries, provides audio streaming 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.

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Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

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