Lake Street Financial LLC cut its holdings in shares of Spotify (NYSE:SPOT) by 41.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,475 shares of the company’s stock after selling 1,055 shares during the period. Lake Street Financial LLC’s holdings in Spotify were worth $221,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Select Equity Group L.P. lifted its position in Spotify by 9.7% during the 3rd quarter. Select Equity Group L.P. now owns 170,943 shares of the company’s stock valued at $19,488,000 after acquiring an additional 15,102 shares during the period. Squarepoint Ops LLC lifted its position in Spotify by 990.3% during the 3rd quarter. Squarepoint Ops LLC now owns 460,827 shares of the company’s stock valued at $52,534,000 after acquiring an additional 418,560 shares during the period. California State Teachers Retirement System lifted its position in Spotify by 1.3% during the 3rd quarter. California State Teachers Retirement System now owns 190,356 shares of the company’s stock valued at $21,701,000 after acquiring an additional 2,527 shares during the period. Highland Capital Management LLC purchased a new position in Spotify during the 3rd quarter valued at about $710,000. Finally, Virtu Financial LLC lifted its position in Spotify by 79.0% during the 3rd quarter. Virtu Financial LLC now owns 7,545 shares of the company’s stock valued at $860,000 after acquiring an additional 3,330 shares during the period. 49.16% of the stock is owned by institutional investors.
NYSE SPOT opened at $144.30 on Wednesday. The company’s 50-day moving average price is $150.59 and its 200-day moving average price is $137.15. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.32. The stock has a market cap of $25.73 billion, a PE ratio of -262.36 and a beta of 1.91. Spotify has a 12 month low of $110.57 and a 12 month high of $161.38.
Spotify (NYSE:SPOT) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.76. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Spotify had a net margin of 7.32% and a return on equity of 22.12%. The business’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 earnings per share. As a group, sell-side analysts forecast that Spotify will post -1.35 earnings per share for the current year.
SPOT has been the subject of a number of analyst reports. Nomura restated a “buy” rating and set a $180.00 price objective on shares of Spotify in a research note on Monday, January 6th. Morgan Stanley restated a “buy” rating and set a $180.00 price objective on shares of Spotify in a research note on Wednesday, January 8th. ValuEngine upgraded shares of Spotify from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th. Royal Bank of Canada lifted their price target on shares of Spotify from $185.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Finally, UBS Group reduced their price target on shares of Spotify from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $157.89.
Spotify Company Profile
Spotify Technology SA, together with its subsidiaries, provides music streaming services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers commercial-free music services to subscribers comprising unlimited online and offline high-quality streaming access to its catalog.
