2,117 Shares in Spotify Technology S.A. (NYSE:SPOT) Bought by Kestra Investment Management LLC

Kestra Investment Management LLC bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,117 shares of the company’s stock, valued at approximately $780,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. WCM Investment Management LLC increased its holdings in shares of Spotify Technology by 18.5% in the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after purchasing an additional 605,755 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Spotify Technology by 3.0% during 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 buying an additional 102,786 shares in the last quarter. FMR LLC grew its holdings in Spotify Technology by 23.4% during the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after buying an additional 297,035 shares in the last quarter. Swedbank AB increased its stake in Spotify Technology by 13.2% in the 2nd quarter. Swedbank AB now owns 852,526 shares of the company’s stock worth $267,514,000 after acquiring an additional 99,730 shares during the last quarter. Finally, Perpetual Ltd raised its holdings in shares of Spotify Technology by 24.3% during the 3rd quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock worth $279,965,000 after acquiring an additional 148,431 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on SPOT. JPMorgan Chase & Co. raised their target price on shares of Spotify Technology from $425.00 to $530.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Canaccord Genuity Group increased their price objective on shares of Spotify Technology from $475.00 to $525.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Morgan Stanley boosted their target price on shares of Spotify Technology from $430.00 to $460.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Phillip Securities reiterated an “accumulate” rating and issued a $485.00 price target (up previously from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $421.69.

Spotify Technology Trading Up 0.4 %

Shares of SPOT stock opened at $476.96 on Monday. The stock has a market capitalization of $94.94 billion, a price-to-earnings ratio of 129.61 and a beta of 1.56. Spotify Technology S.A. has a twelve month low of $179.66 and a twelve month high of $489.69. The stock has a fifty day simple moving average of $404.30 and a two-hundred day simple moving average of $350.99.

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

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.