Fulton Bank N.A. Sells 155 Shares of Spotify Technology S.A. (NYSE:SPOT)

Fulton Bank N.A. cut its position in Spotify Technology S.A. (NYSE:SPOT) by 13.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 959 shares of the company’s stock after selling 155 shares during the period. Fulton Bank N.A.’s holdings in Spotify Technology were worth $429,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. WCM Investment Management LLC raised its stake in Spotify Technology by 18.5% during the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after acquiring an additional 605,755 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Spotify Technology by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock valued at $1,286,969,000 after purchasing an additional 102,786 shares during the period. State Street Corp grew its position in Spotify Technology by 1.5% during the third quarter. State Street Corp now owns 1,997,323 shares of the company’s stock valued at $736,073,000 after buying an additional 28,864 shares during the period. FMR LLC raised its holdings in shares of Spotify Technology by 23.4% in the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after purchasing an additional 297,035 shares during the period. Finally, Two Sigma Advisers LP raised its position in shares of Spotify Technology by 19.0% in the third quarter. Two Sigma Advisers LP now owns 980,000 shares of the company’s stock valued at $361,159,000 after purchasing an additional 156,300 shares during the period. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

NYSE SPOT opened at $459.82 on Friday. The stock has a 50 day moving average price of $460.14 and a 200-day moving average price of $383.82. Spotify Technology S.A. has a one year low of $191.88 and a one year high of $506.47. The company has a market capitalization of $91.53 billion, a P/E ratio of 124.95 and a beta of 1.62.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the prior year, the company posted $0.36 EPS. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. As a group, equities analysts predict that Spotify Technology S.A. will post 6.02 EPS for the current fiscal year.

Analyst Ratings Changes

SPOT has been the topic of several research analyst reports. Cantor Fitzgerald restated a “neutral” rating and issued a $340.00 price objective on shares of Spotify Technology in a research report on Monday, October 7th. Piper Sandler increased their price target on shares of Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Rosenblatt Securities upped their price target on shares of Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. KeyCorp upped their target price on shares of Spotify Technology from $520.00 to $555.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Bank of America upped their price target on shares of Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, Spotify Technology has an average rating of “Moderate Buy” and a consensus target price of $433.36.

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.