Universal Beteiligungs und Servicegesellschaft mbH Sells 10,115 Shares of Spotify Technology $SPOT

Universal Beteiligungs und Servicegesellschaft mbH lowered its stake in Spotify Technology (NYSE:SPOT) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 325,538 shares of the company’s stock after selling 10,115 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.16% of Spotify Technology worth $188,750,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Spotify Technology by 1,714.5% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 10,161 shares of the company’s stock valued at $5,901,000 after purchasing an additional 9,601 shares during the period. Round Rock Advisors LLC acquired a new position in shares of Spotify Technology in the 4th quarter valued at $1,547,000. Legacy Advisors LLC lifted its stake in shares of Spotify Technology by 1.1% in the 4th quarter. Legacy Advisors LLC now owns 2,622 shares of the company’s stock valued at $1,523,000 after purchasing an additional 28 shares during the period. Tred Avon Family Wealth LLC acquired a new position in shares of Spotify Technology in the 4th quarter valued at $361,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Spotify Technology by 8.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 115,303 shares of the company’s stock valued at $66,958,000 after purchasing an additional 8,805 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SPOT shares. Weiss Ratings downgraded Spotify Technology from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. Arete Research raised Spotify Technology from a “neutral” rating to a “buy” rating and set a $586.00 price target on the stock in a research note on Thursday, February 26th. Benchmark cut their price target on Spotify Technology from $860.00 to $760.00 and set a “buy” rating on the stock in a research note on Friday, January 16th. Sanford C. Bernstein cut their price target on Spotify Technology from $830.00 to $650.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 14th. Finally, Barclays cut their price target on Spotify Technology from $650.00 to $600.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $691.21.

Spotify Technology Trading Down 2.6%

Shares of Spotify Technology stock opened at $522.78 on Wednesday. The company has a market capitalization of $107.63 billion, a PE ratio of 54.23, a PEG ratio of 1.18 and a beta of 1.70. Spotify Technology has a 12 month low of $405.00 and a 12 month high of $785.00. The stock’s fifty day simple moving average is $497.79 and its 200 day simple moving average is $554.85.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $5.16 EPS for the quarter, topping the consensus estimate of $3.16 by $2.00. The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.14 billion. Spotify Technology had a return on equity of 31.35% and a net margin of 13.16%.The firm’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.88 EPS. Analysts predict that Spotify Technology will post 15.55 EPS for the current fiscal year.

Insider Buying and Selling at Spotify Technology

In related news, CEO Alex Norstrom sold 5,436 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $479.51, for a total transaction of $2,606,616.36. Following the sale, the chief executive officer owned 69,989 shares of the company’s stock, valued at approximately $33,560,425.39. This trade represents a 7.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gustav Soderstrom sold 20,833 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $473.52, for a total value of $9,864,842.16. Following the sale, the chief executive officer directly owned 20,609 shares in the company, valued at $9,758,773.68. The trade was a 50.27% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.40% of the company’s stock.

Spotify Technology Company Profile

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.