Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 7.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 360,684 shares of the company’s stock after selling 27,163 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Spotify Technology were worth $99,401,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bluestein R H & Co. lifted its holdings in Spotify Technology by 81.4% during the first quarter. Bluestein R H & Co. now owns 4,400 shares of the company’s stock valued at $1,179,000 after purchasing an additional 1,975 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Spotify Technology by 4.8% during the first quarter. Dimensional Fund Advisors LP now owns 106,289 shares of the company’s stock valued at $28,475,000 after purchasing an additional 4,834 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in Spotify Technology by 121.4% during the first quarter. Rehmann Capital Advisory Group now owns 1,667 shares of the company’s stock valued at $447,000 after purchasing an additional 914 shares in the last quarter. Lombard Odier Asset Management USA Corp purchased a new position in Spotify Technology during the first quarter valued at $524,000. Finally, Creative Planning lifted its holdings in Spotify Technology by 44.3% during the second quarter. Creative Planning now owns 7,176 shares of the company’s stock valued at $1,978,000 after purchasing an additional 2,204 shares in the last quarter. 60.53% of the stock is currently owned by institutional investors and hedge funds.

Shares of SPOT stock traded down $3.39 during trading on Tuesday, reaching $234.37. The company’s stock had a trading volume of 15,455 shares, compared to its average volume of 1,548,470. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $42.01 billion, a price-to-earnings ratio of -118.88 and a beta of 1.51. The stock’s 50-day moving average price is $233.12 and its 200 day moving average price is $249.29. Spotify Technology S.A. has a 1-year low of $201.68 and a 1-year high of $387.44.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Wednesday, July 28th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.33. Spotify Technology had a negative net margin of 2.56% and a negative return on equity of 7.95%. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.75 billion. On average, sell-side analysts anticipate that Spotify Technology S.A. will post -1.09 EPS for the current fiscal year.

SPOT has been the topic of several research reports. The Goldman Sachs Group initiated coverage on shares of Spotify Technology in a research note on Monday, September 13th. They issued a “neutral” rating and a $260.00 price target on the stock. Citigroup decreased their price target on shares of Spotify Technology from $310.00 to $275.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 8th. Redburn Partners reissued a “sell” rating and issued a $170.00 price target on shares of Spotify Technology in a research note on Monday, July 26th. decreased their price target on shares of Spotify Technology from $310.00 to $275.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 8th. Finally, Credit Suisse Group decreased their price target on shares of Spotify Technology from $315.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, July 29th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $302.63.

About Spotify Technology

Spotify Technology SA is a digital music service offering music fans instant access to a world of music. The company operates through the following segments: Premium and Ad-Supported. The Premium segment provides subscribers with unlimited online and offline high-quality streaming access of music and podcasts on computers, tablets, and mobile devices, users can connect through speakers, receivers, televisions, cars, game consoles, and smart watches.

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Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

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