Federated Hermes Inc. Has $76.22 Million Holdings in Spotify Technology S.A. (NYSE:SPOT)

Federated Hermes Inc. lessened its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 19.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 405,633 shares of the company’s stock after selling 96,293 shares during the period. Federated Hermes Inc. owned about 0.21% of Spotify Technology worth $76,222,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SPOT. Cetera Advisor Networks LLC raised its holdings in Spotify Technology by 142.4% during the 1st quarter. Cetera Advisor Networks LLC now owns 3,071 shares of the company’s stock worth $464,000 after buying an additional 1,804 shares during the period. Private Advisor Group LLC raised its holdings in Spotify Technology by 19.8% during the 1st quarter. Private Advisor Group LLC now owns 4,909 shares of the company’s stock worth $741,000 after buying an additional 811 shares during the period. BlackRock Inc. raised its holdings in Spotify Technology by 6.3% during the 1st quarter. BlackRock Inc. now owns 4,046,153 shares of the company’s stock worth $611,049,000 after buying an additional 241,026 shares during the period. Cibc World Market Inc. raised its holdings in Spotify Technology by 22.4% during the 1st quarter. Cibc World Market Inc. now owns 4,823 shares of the company’s stock worth $728,000 after buying an additional 883 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Spotify Technology by 68.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 190,255 shares of the company’s stock valued at $28,735,000 after acquiring an additional 77,379 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Trading Down 1.5 %

Shares of SPOT stock opened at $289.20 on Friday. Spotify Technology S.A. has a 12 month low of $128.67 and a 12 month high of $313.16. The stock has a 50 day moving average of $266.24 and a 200-day moving average of $213.35.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, February 6th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.01. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.72 billion. Spotify Technology had a negative return on equity of 23.43% and a negative net margin of 4.01%. Spotify Technology’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the company posted ($1.43) earnings per share. As a group, sell-side analysts expect that Spotify Technology S.A. will post 3.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SPOT has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on Spotify Technology from $260.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday. HSBC initiated coverage on Spotify Technology in a research note on Wednesday, March 27th. They set a “buy” rating and a $310.00 target price on the stock. DZ Bank raised Spotify Technology from a “sell” rating to a “hold” rating and set a $240.00 target price on the stock in a research note on Wednesday, February 7th. KeyCorp lifted their target price on Spotify Technology from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Finally, Barclays lifted their target price on Spotify Technology from $270.00 to $335.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $265.24.

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.