Bluesphere Advisors LLC Makes New Investment in Spotify Technology S.A. (NYSE:SPOT)

Bluesphere Advisors LLC purchased a new stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 521 shares of the company's stock, valued at approximately $233,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPOT. Prestige Wealth Management Group LLC acquired a new stake in shares of Spotify Technology in the third quarter worth approximately $26,000. Hobbs Group Advisors LLC purchased a new stake in Spotify Technology in the third quarter valued at approximately $33,000. Larson Financial Group LLC boosted its holdings in 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 acquiring an additional 33 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Spotify Technology in the third quarter valued at approximately $40,000. Finally, Rakuten Securities Inc. raised its stake in shares of Spotify Technology by 40.5% in the third quarter. Rakuten Securities Inc. now owns 111 shares of the company's stock valued at $41,000 after acquiring an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Spotify Technology Price Performance

NYSE SPOT traded up $2.91 during mid-day trading on Wednesday, hitting $624.68. The company's stock had a trading volume of 3,183,158 shares, compared to its average volume of 2,069,581. The firm has a market capitalization of $124.34 billion, a P/E ratio of 169.34 and a beta of 1.63. The stock's fifty day simple moving average is $485.02 and its two-hundred day simple moving average is $409.38. Spotify Technology S.A. has a 52-week low of $227.52 and a 52-week high of $630.77.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $4.03 billion. During the same quarter last year, the firm posted $0.36 earnings per share. The firm's quarterly revenue was up 18.8% compared to the same quarter last year. On average, equities analysts forecast that Spotify Technology S.A. will post 5.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SPOT has been the topic of several research analyst reports. Piper Sandler lifted their price target on shares of Spotify Technology from $330.00 to $450.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 13th. Canaccord Genuity Group lifted their price objective on Spotify Technology from $650.00 to $700.00 and gave the company a "buy" rating in a report on Wednesday. KeyCorp raised their price objective on shares of Spotify Technology from $555.00 to $600.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Benchmark raised their target price on shares of Spotify Technology from $600.00 to $720.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Guggenheim raised their price target on shares of Spotify Technology from $520.00 to $675.00 and gave the stock a "buy" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, Spotify Technology presently has an average rating of "Moderate Buy" and a consensus target price of $509.61.

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.