Baltimore Washington Financial Advisors Inc. Purchases Shares of 506 Spotify Technology S.A. (NYSE:SPOT)

Baltimore Washington Financial Advisors Inc. purchased a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 506 shares of the company’s stock, valued at approximately $226,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SPOT. Jennison Associates LLC acquired a new position in shares of Spotify Technology during the fourth quarter worth $1,335,575,000. Forsta AP Fonden acquired a new stake in Spotify Technology in the fourth quarter valued at $619,600,000. WCM Investment Management LLC increased 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 valued at $1,430,142,000 after purchasing an additional 605,755 shares during the last quarter. International Assets Investment Management LLC increased its stake in Spotify Technology by 36,910.0% during the third quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock valued at $128,073,000 after purchasing an additional 346,585 shares during the last quarter. Finally, FMR LLC increased its stake in Spotify Technology by 23.4% during the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after purchasing an additional 297,035 shares during the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Price Performance

Shares of SPOT stock opened at $549.45 on Tuesday. The stock has a fifty day moving average price of $480.71 and a 200 day moving average price of $405.25. Spotify Technology S.A. has a one year low of $219.36 and a one year high of $560.36. The stock has a market cap of $109.37 billion, a P/E ratio of 149.31 and a beta of 1.63.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data 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 company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same quarter in the prior year, the company earned $0.36 earnings per share. The business’s revenue was up 18.8% compared to the same quarter last year. Equities research analysts anticipate that Spotify Technology S.A. will post 5.91 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SPOT shares. TD Cowen upped their price target on shares of Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. Phillip Securities reissued an “accumulate” rating and issued a $485.00 price target (up from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. UBS Group upped their target price on Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Finally, Bank of America increased their price objective on Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $451.39.

Spotify Technology 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.