Lafayette Investments Inc. Decreases Holdings in Spotify Technology S.A. (NYSE:SPOT)

Lafayette Investments Inc. trimmed its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 4.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,875 shares of the company’s stock after selling 500 shares during the period. Lafayette Investments Inc.’s holdings in Spotify Technology were worth $2,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Technology Crossover Management XI Ltd. lifted its holdings in Spotify Technology by 36.2% during the 3rd quarter. Technology Crossover Management XI Ltd. now owns 1,297,323 shares of the company’s stock worth $200,618,000 after buying an additional 344,841 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Spotify Technology by 7.9% during the fourth quarter. Nordea Investment Management AB now owns 248,659 shares of the company’s stock worth $46,927,000 after purchasing an additional 18,105 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Spotify Technology by 410.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 97,771 shares of the company’s stock worth $18,372,000 after purchasing an additional 78,609 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of Spotify Technology by 452.4% during the third quarter. GSA Capital Partners LLP now owns 14,242 shares of the company’s stock worth $2,202,000 after purchasing an additional 11,664 shares in the last quarter. Finally, Rheos Capital Works Inc. increased its position in shares of Spotify Technology by 205.7% during the fourth quarter. Rheos Capital Works Inc. now owns 107,000 shares of the company’s stock worth $20,106,000 after purchasing an additional 72,000 shares in the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Trading Down 4.2 %

NYSE:SPOT traded down $12.04 on Friday, reaching $277.16. The stock had a trading volume of 1,419,858 shares, compared to its average volume of 1,898,941. Spotify Technology S.A. has a 12-month low of $128.67 and a 12-month high of $313.16. The company has a 50-day moving average of $266.24 and a 200 day moving average of $213.35. The stock has a market cap of $54.97 billion, a P/E ratio of -97.70 and a beta of 1.63.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, February 6th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.01. Spotify Technology had a negative net margin of 4.01% and a negative return on equity of 23.43%. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the company posted ($1.43) earnings per share. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities analysts predict that Spotify Technology S.A. will post 3.51 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SPOT shares. Raymond James boosted their price target on Spotify Technology from $260.00 to $320.00 and gave the company an “outperform” rating in a research report on Monday. Benchmark boosted their price target on Spotify Technology from $290.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their target price on Spotify Technology from $260.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays upped their target price on Spotify Technology from $270.00 to $335.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Finally, UBS Group upped their target price on Spotify Technology from $274.00 to $375.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $265.24.

Spotify Technology 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.