Geode Capital Management LLC Has $82.63 Million Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Geode Capital Management LLC increased its stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 6.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,209 shares of the company's stock after buying an additional 14,426 shares during the quarter. Geode Capital Management LLC owned about 0.11% of Spotify Technology worth $82,628,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC acquired a new position in shares of Spotify Technology in the 3rd quarter valued at approximately $26,000. Transcendent Capital Group LLC bought a new position in Spotify Technology in the second quarter valued at approximately $25,000. Benjamin Edwards Inc. raised its position in Spotify Technology by 214.8% during the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company's stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Larson Financial Group LLC raised its position in Spotify Technology by 51.6% during the third 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. Finally, V Square Quantitative Management LLC bought a new stake in Spotify Technology during the third quarter worth $40,000. Institutional investors own 84.09% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SPOT shares. KeyCorp lifted their price target on Spotify Technology from $490.00 to $520.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. TD Cowen lifted their target price on Spotify Technology from $356.00 to $416.00 and gave the company a "hold" rating in a research report on Wednesday, November 13th. Morgan Stanley increased their target price 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. Canaccord Genuity Group raised their price target on shares of Spotify Technology from $525.00 to $560.00 and gave the company a "buy" rating in a research note on Monday, December 2nd. Finally, Macquarie upped their price objective on shares of Spotify Technology from $395.00 to $500.00 and gave the stock an "outperform" 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-two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $429.96.

Spotify Technology Trading Up 1.5 %

SPOT stock traded up $6.72 during midday trading on Friday, hitting $460.88. The stock had a trading volume of 1,831,265 shares, compared to its average volume of 2,063,543. The firm has a market cap of $91.74 billion, a P/E ratio of 125.24 and a beta of 1.61. The business has a fifty day moving average price of $435.94 and a two-hundred day moving average price of $368.50. Spotify Technology S.A. has a 1-year low of $185.37 and a 1-year high of $506.47.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($0.30). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same period in the prior year, the firm earned $0.36 earnings per share. The firm's revenue for the quarter was up 18.8% compared to the same quarter last year. On average, equities analysts anticipate that Spotify Technology S.A. will post 6.02 EPS for the current year.

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.