Patriot Financial Group Insurance Agency LLC Purchases New Shares in Spotify Technology S.A. (NYSE:SPOT)

Patriot Financial Group Insurance Agency LLC purchased a new position in Spotify Technology S.A. (NYSE:SPOT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 478 shares of the company's stock, valued at approximately $214,000.

Other large investors have also recently bought and sold shares of the company. Prestige Wealth Management Group LLC bought a new position in Spotify Technology in the third quarter valued at about $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Spotify Technology in the 3rd quarter valued at approximately $33,000. Larson Financial Group LLC grew its holdings in shares of Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company's stock valued at $36,000 after purchasing an additional 33 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Spotify Technology during the 3rd quarter worth approximately $40,000. Finally, Rakuten Securities Inc. lifted its stake in Spotify Technology by 40.5% in the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company's stock valued at $41,000 after purchasing an additional 32 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SPOT has been the subject of several research analyst reports. Macquarie upped their price target on shares of Spotify Technology from $500.00 to $600.00 and gave the stock an "outperform" rating in a report on Thursday. TD Cowen upped their target price on Spotify Technology from $356.00 to $416.00 and gave the stock a "hold" rating in a report on Wednesday, November 13th. Canaccord Genuity Group lifted their price target on Spotify Technology from $525.00 to $560.00 and gave the company a "buy" rating in a research note on Monday, December 2nd. Rosenblatt Securities upped their price objective on Spotify Technology from $399.00 to $438.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. Finally, Wolfe Research reiterated a "peer perform" rating on shares of Spotify Technology in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $449.79.

Spotify Technology Stock Performance

Shares of NYSE SPOT traded up $11.62 during trading on Thursday, hitting $550.45. 2,043,858 shares of the company traded hands, compared to its average volume of 1,771,419. The business's fifty day moving average is $477.67 and its 200 day moving average is $400.99. The firm has a market capitalization of $109.57 billion, a price-to-earnings ratio of 149.58 and a beta of 1.62. Spotify Technology S.A. has a fifty-two week low of $213.31 and a fifty-two week high of $558.31.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly 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). The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The firm's revenue was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 EPS. On average, analysts predict that Spotify Technology S.A. will post 5.91 EPS for the current year.

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.