Greenbrier Partners Capital Management LLC Lowers Holdings in Spotify Technology S.A. (NYSE:SPOT)

Greenbrier Partners Capital Management LLC reduced its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 0.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,623 shares of the company’s stock after selling 47 shares during the quarter. Spotify Technology comprises approximately 1.0% of Greenbrier Partners Capital Management LLC’s holdings, making the stock its 13th largest position. Greenbrier Partners Capital Management LLC’s holdings in Spotify Technology were worth $13,128,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SPOT. Transcendent Capital Group LLC bought a new stake in shares of Spotify Technology in the second quarter worth about $25,000. Benjamin Edwards Inc. increased its stake in Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Mather Group LLC. raised its holdings in shares of Spotify Technology by 9,900.0% during the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after acquiring an additional 99 shares in the last quarter. Asset Dedication LLC bought a new position in shares of Spotify Technology during the 2nd quarter valued at approximately $35,000. Finally, Larson Financial Group LLC boosted its position in shares of Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after acquiring an additional 33 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

SPOT stock opened at $475.24 on Friday. Spotify Technology S.A. has a 1-year low of $179.66 and a 1-year high of $489.69. The business has a 50-day moving average price of $402.06 and a 200 day moving average price of $348.93. The company has a market capitalization of $94.60 billion, a P/E ratio of 129.14 and a beta of 1.56.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the prior year, the firm posted $0.36 EPS. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, analysts anticipate that Spotify Technology S.A. will post 6.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SPOT has been the subject of several research reports. Barclays increased their price objective on shares of Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Morgan Stanley lifted their price target on Spotify Technology from $430.00 to $460.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Phillip Securities reissued an “accumulate” rating and set a $485.00 price objective (up from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. Evercore ISI raised their price objective on Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Wells Fargo & Company boosted their target price on Spotify Technology from $470.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $421.69.

Spotify Technology Company 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.