Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 904 shares of the company's stock, valued at approximately $404,000.
Several other institutional investors have also made changes to their positions in SPOT. WCM Investment Management LLC raised 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 valued at $1,430,142,000 after buying an additional 605,755 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Spotify Technology by 3.0% in the third 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 during the last quarter. State Street Corp grew its stake in shares of Spotify Technology by 1.5% in the third quarter. State Street Corp now owns 1,997,323 shares of the company's stock valued at $736,073,000 after acquiring an additional 28,864 shares in the last quarter. FMR LLC boosted its position in shares of Spotify Technology by 23.4% during the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company's stock worth $577,788,000 after acquiring an additional 297,035 shares in the last quarter. Finally, Two Sigma Advisers LP grew its stake in shares of Spotify Technology by 19.0% during the third quarter. Two Sigma Advisers LP now owns 980,000 shares of the company's stock worth $361,159,000 after buying an additional 156,300 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.
Spotify Technology Stock Performance
Shares of NYSE SPOT traded up $18.30 during mid-day trading on Thursday, reaching $557.13. 977,902 shares of the company traded hands, compared to its average volume of 1,713,204. The company's fifty day moving average is $477.67 and its two-hundred day moving average is $400.99. Spotify Technology S.A. has a fifty-two week low of $213.31 and a fifty-two week high of $558.31. The stock has a market cap of $110.90 billion, a PE ratio of 151.40 and a beta of 1.62.
Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.30). The business 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 period in the prior year, the firm posted $0.36 EPS. Research analysts forecast that Spotify Technology S.A. will post 5.91 earnings per share for the current year.
Analyst Ratings Changes
Several research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Spotify Technology from $430.00 to $440.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. upped their price objective on shares of Spotify Technology from $425.00 to $530.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Canaccord Genuity Group upped their target price on shares of Spotify Technology from $525.00 to $560.00 and gave the stock a "buy" rating in a report on Monday, December 2nd. Pivotal Research raised their target price on Spotify Technology from $510.00 to $565.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company raised their price objective on Spotify Technology from $470.00 to $520.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company's stock. According to data from MarketBeat, Spotify Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $446.21.
Get Our Latest Stock Analysis on SPOT
Spotify Technology 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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