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

Universal Beteiligungs und Servicegesellschaft mbH lessened its position in shares of Spotify Technology (NYSE:SPOT – Free Report) by 3.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 325,538 shares of the company’s stock after selling 10,115 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Spotify Technology were worth $188,750,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Spotify Technology by 1.1% during the 3rd quarter. State Street Corp now owns 4,622,298 shares of the company’s stock worth $3,226,364,000 after purchasing an additional 48,070 shares in the last quarter. Capital World Investors increased its holdings in Spotify Technology by 40.7% during the 3rd quarter. Capital World Investors now owns 2,730,713 shares of the company’s stock worth $1,906,260,000 after purchasing an additional 789,755 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Spotify Technology by 4.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,602,625 shares of the company’s stock worth $1,816,632,000 after purchasing an additional 113,612 shares in the last quarter. Coatue Management LLC increased its holdings in Spotify Technology by 13.3% during the 3rd quarter. Coatue Management LLC now owns 1,803,173 shares of the company’s stock worth $1,258,615,000 after purchasing an additional 212,006 shares in the last quarter. Finally, Sands Capital Management LLC increased its holdings in Spotify Technology by 14.2% during the 3rd quarter. Sands Capital Management LLC now owns 1,547,640 shares of the company’s stock worth $1,080,253,000 after purchasing an additional 192,837 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Insider Transactions at Spotify Technology

In related news, CEO Gustav Soderstrom sold 20,833 shares of Spotify Technology stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $473.52, for a total transaction of $9,864,842.16. Following the completion of the transaction, the chief executive officer owned 20,609 shares in the company, valued at approximately $9,758,773.68. This trade represents a 50.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Alex Norstrom sold 5,436 shares of Spotify Technology stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $479.51, for a total value of $2,606,616.36. Following the transaction, the chief executive officer owned 69,989 shares of the company’s stock, valued at $33,560,425.39. The trade was a 7.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.40% of the company’s stock.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $522.78 on Wednesday. The stock has a market capitalization of $107.63 billion, a price-to-earnings ratio of 54.23, a PEG ratio of 1.18 and a beta of 1.70. The business has a 50-day moving average of $497.79 and a 200-day moving average of $554.85. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week high of $785.00.

Spotify Technology (NYSE:SPOT – Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $3.16 by $2.00. The company had revenue of $5.32 billion during 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 revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.88 EPS. On average, sell-side analysts expect that Spotify Technology will post 15.55 EPS for the current year.

Wall Street Analysts Forecast Growth

SPOT has been the subject of a number of research reports. Daiwa Securities Group initiated coverage on Spotify Technology in a report on Thursday, March 26th. They set an “outperform” rating and a $535.00 target price for the company. Cantor Fitzgerald decreased their price objective on Spotify Technology from $615.00 to $525.00 and set a “neutral” rating for the company in a report on Wednesday, February 11th. UBS Group decreased their price objective on Spotify Technology from $850.00 to $800.00 and set a “buy” rating for the company in a report on Friday, January 9th. Weiss Ratings cut Spotify Technology from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. Finally, Barclays decreased their price objective on Spotify Technology from $650.00 to $600.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $691.21.

Check Out Our Latest Stock Analysis on SPOT

Spotify Technology Company Profile

(Free Report)

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.

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