Bank of Montreal Can raised its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 123.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 312,726 shares of the company's stock after purchasing an additional 172,985 shares during the quarter. Bank of Montreal Can owned 0.16% of Spotify Technology worth $115,458,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPOT. Transcendent Capital Group LLC purchased a new stake in shares of Spotify Technology in the second quarter worth about $25,000. Benjamin Edwards Inc. boosted its position in Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company's stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Mather Group LLC. grew its stake in shares of Spotify Technology by 9,900.0% during the 2nd quarter. Mather Group LLC. now owns 100 shares of the company's stock worth $31,000 after purchasing an additional 99 shares during the period. Asset Dedication LLC acquired a new stake in shares of Spotify Technology during the 2nd quarter worth approximately $35,000. Finally, Larson Financial Group LLC increased 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 in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the stock. Morgan Stanley increased their price target 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. Barclays increased their target price on shares of Spotify Technology from $385.00 to $475.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft lifted their price target on Spotify Technology from $430.00 to $440.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Piper Sandler increased their price target on Spotify Technology from $330.00 to $450.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 13th. Finally, Pivotal Research boosted their price objective on Spotify Technology from $510.00 to $565.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $421.69.
Read Our Latest Research Report on SPOT
Spotify Technology Stock Up 0.1 %
Shares of SPOT opened at $477.00 on Wednesday. Spotify Technology S.A. has a 52-week low of $179.66 and a 52-week high of $489.69. The stock has a fifty day simple moving average of $397.13 and a two-hundred day simple moving average of $347.15. The company has a market capitalization of $94.95 billion, a PE ratio of 129.55 and a beta of 1.56.
Spotify Technology (NYSE:SPOT - Get Free Report) 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). The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. Spotify Technology's revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 earnings per share. As a group, equities analysts anticipate that Spotify Technology S.A. will post 6.02 earnings per share for the current fiscal year.
Spotify Technology Company Profile
(
Free Report)
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.
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