Clough Capital Partners L P Has $1.01 Million Position in Spotify Technology $SPOT

Clough Capital Partners L P lessened its holdings in shares of Spotify Technology (NYSE:SPOT) by 50.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,443 shares of the company’s stock after selling 1,443 shares during the period. Clough Capital Partners L P’s holdings in Spotify Technology were worth $1,007,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Sage Mountain Advisors LLC raised its holdings in Spotify Technology by 6.3% during the 3rd quarter. Sage Mountain Advisors LLC now owns 289 shares of the company’s stock worth $201,000 after buying an additional 17 shares during the period. Fullerton Fund Management Co Ltd. lifted its stake in Spotify Technology by 7.0% in the second quarter. Fullerton Fund Management Co Ltd. now owns 276 shares of the company’s stock valued at $212,000 after buying an additional 18 shares in the last quarter. Granite Group Advisors LLC boosted its holdings in shares of Spotify Technology by 2.6% in the third quarter. Granite Group Advisors LLC now owns 756 shares of the company’s stock valued at $528,000 after buying an additional 19 shares during the period. Ameritas Advisory Services LLC increased its position in shares of Spotify Technology by 7.9% during the third quarter. Ameritas Advisory Services LLC now owns 260 shares of the company’s stock worth $181,000 after acquiring an additional 19 shares in the last quarter. Finally, Aprio Wealth Management LLC increased its position in shares of Spotify Technology by 3.1% during the third quarter. Aprio Wealth Management LLC now owns 633 shares of the company’s stock worth $442,000 after acquiring an additional 19 shares in the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Trading Up 1.3%

Spotify Technology stock opened at $516.14 on Friday. Spotify Technology has a 1-year low of $405.00 and a 1-year high of $785.00. The company has a fifty day simple moving average of $502.35 and a 200 day simple moving average of $595.37. The company has a market cap of $106.26 billion, a P/E ratio of 53.54, a price-to-earnings-growth ratio of 1.13 and a beta of 1.66.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $5.16 EPS for the quarter, topping the consensus estimate of $3.16 by $2.00. Spotify Technology had a net margin of 13.16% and a return on equity of 31.35%. The firm had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the firm posted $1.88 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities research analysts forecast that Spotify Technology will post 10.3 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Sanford C. Bernstein cut their price objective on shares of Spotify Technology from $830.00 to $650.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 14th. Weiss Ratings cut Spotify Technology from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. UBS Group dropped their price target on Spotify Technology from $850.00 to $800.00 and set a “buy” rating on the stock in a research note on Friday, January 9th. Guggenheim cut their price target on Spotify Technology from $720.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Finally, Arete Research raised Spotify Technology from a “neutral” rating to a “buy” rating and set a $586.00 price objective for the company in a research report on Thursday, February 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $703.87.

About Spotify Technology

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.