HighTower Advisors LLC Purchases 3,330 Shares of Spotify Technology S.A. (NYSE:SPOT)

HighTower Advisors LLC raised its holdings in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 25.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,549 shares of the company's stock after acquiring an additional 3,330 shares during the period. HighTower Advisors LLC's holdings in Spotify Technology were worth $6,073,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. RFG Advisory LLC increased its stake in shares of Spotify Technology by 21.4% during the second quarter. RFG Advisory LLC now owns 1,750 shares of the company's stock valued at $549,000 after acquiring an additional 308 shares during the period. Park National Corp OH bought a new stake in shares of Spotify Technology in the 2nd quarter worth $218,000. Sequoia Financial Advisors LLC boosted its stake in Spotify Technology by 20.2% during the second quarter. Sequoia Financial Advisors LLC now owns 1,037 shares of the company's stock valued at $325,000 after buying an additional 174 shares in the last quarter. Wedmont Private Capital boosted its stake in Spotify Technology by 29.5% during the second quarter. Wedmont Private Capital now owns 965 shares of the company's stock valued at $292,000 after buying an additional 220 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Spotify Technology by 8.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,683 shares of the company's stock worth $1,469,000 after acquiring an additional 372 shares during the period. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Stock Performance

NYSE:SPOT traded down $10.96 during mid-day trading on Tuesday, hitting $471.56. The company had a trading volume of 2,783,230 shares, compared to its average volume of 2,068,282. Spotify Technology S.A. has a fifty-two week low of $185.37 and a fifty-two week high of $506.47. The firm has a market cap of $93.86 billion, a P/E ratio of 128.15 and a beta of 1.61. The business's fifty day moving average is $418.31 and its two-hundred day moving average is $359.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued 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 company had revenue of $3.99 billion for 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 period in the prior year, the company earned $0.36 EPS. Equities analysts forecast that Spotify Technology S.A. will post 6.02 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SPOT shares. Evercore ISI lifted their price target on Spotify Technology from $420.00 to $460.00 and gave the stock an "outperform" rating in a research note on Thursday, August 29th. Macquarie boosted their price target on shares of Spotify Technology from $395.00 to $500.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $340.00 price objective on shares of Spotify Technology in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Finally, Piper Sandler raised their target price on Spotify Technology from $330.00 to $450.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $429.96.

About Spotify Technology

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.