Huntington Nationwide Financial institution lowered its place in shares of Spotify Expertise S.A. (NYSE:SPOT – Free Report) by 11.9% within the third quarter, in accordance with the corporate in its most up-to-date 13F submitting with the Securities and Alternate Fee. The institutional investor owned 282 shares of the corporate’s inventory after promoting 38 shares in the course of the interval. Huntington Nationwide Financial institution’s holdings in Spotify Expertise had been price $104,000 on the finish of the newest quarter.
Quite a lot of different hedge funds have additionally made adjustments to their positions within the firm. Parametrica Administration Ltd bought a brand new stake in shares of Spotify Expertise in the course of the third quarter price roughly $545,000. Angeles Funding Advisors LLC acquired a brand new stake in Spotify Expertise in the course of the third quarter price $480,000. Cumberland Companions Ltd boosted its stake in Spotify Expertise by 16.7% in the course of the third quarter. Cumberland Companions Ltd now owns 3,500 shares of the corporate’s inventory price $1,290,000 after buying an extra 500 shares over the last quarter. Aigen Funding Administration LP grew its holdings in shares of Spotify Expertise by 42.4% in the course of the third quarter. Aigen Funding Administration LP now owns 9,800 shares of the corporate’s inventory price $3,612,000 after shopping for an extra 2,918 shares within the final quarter. Lastly, Prime Capital Funding Advisors LLC acquired a brand new stake in shares of Spotify Expertise within the third quarter valued at about $244,000. Institutional traders and hedge funds personal 84.09% of the corporate’s inventory.
Spotify Expertise Buying and selling Down 4.0 %
SPOT inventory opened at $458.32 on Monday. The enterprise’s fifty day transferring common value is $378.15 and its 200 day transferring common value is $338.61. Spotify Expertise S.A. has a 12-month low of $170.62 and a 12-month excessive of $489.69. The corporate has a market capitalization of $91.23 billion, a PE ratio of 124.54 and a beta of 1.56.
Spotify Expertise (NYSE:SPOT – Get Free Report) final issued its quarterly earnings outcomes on Tuesday, November twelfth. The corporate reported $1.45 earnings per share (EPS) for the quarter, lacking analysts’ consensus estimates of $1.75 by ($0.30). Spotify Expertise had a return on fairness of 19.07% and a internet margin of 4.66%. The enterprise had income of $3.99 billion for the quarter, in comparison with analysts’ expectations of $4.03 billion. Throughout the identical quarter final yr, the corporate earned $0.36 earnings per share. The agency’s income for the quarter was up 18.8% on a year-over-year foundation. Analysis analysts predict that Spotify Expertise S.A. will publish 6.09 EPS for the present fiscal yr.
Wall Avenue Analysts Forecast Progress
Quite a lot of equities analysts not too long ago weighed in on SPOT shares. JPMorgan Chase & Co. boosted their value goal on shares of Spotify Expertise from $425.00 to $530.00 and gave the inventory an “chubby” ranking in a analysis report on Wednesday, November thirteenth. TD Cowen boosted their goal value on Spotify Expertise from $356.00 to $416.00 and gave the inventory a “maintain” ranking in a report on Wednesday, November thirteenth. Wells Fargo & Firm elevated their value goal on Spotify Expertise from $470.00 to $520.00 and gave the corporate an “chubby” ranking in a report on Wednesday, November thirteenth. Cantor Fitzgerald reissued a “impartial” ranking and set a $340.00 value goal on shares of Spotify Expertise in a analysis notice on Monday, October seventh. Lastly, Macquarie raised their goal value on Spotify Expertise from $395.00 to $500.00 and gave the inventory an “outperform” ranking in a analysis notice on Wednesday, November thirteenth. One analyst has rated the inventory with a promote ranking, 5 have issued a maintain ranking and twenty-three have assigned a purchase ranking to the corporate’s inventory. In response to MarketBeat, the inventory presently has a median ranking of “Average Purchase” and a consensus goal value of $421.69.
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About Spotify Expertise
Spotify Expertise SA, along with its subsidiaries, supplies audio streaming subscription companies worldwide. It operates via two segments, Premium and Advert-Supported. The Premium section affords limitless on-line and offline streaming entry to its catalog of music and podcasts with out business breaks to its subscribers.
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