Napa Wealth Management bought a new position in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,398 shares of the company's stock, valued at approximately $1,252,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Transcendent Capital Group LLC purchased a new position in shares of Spotify Technology in the 2nd quarter valued at about $25,000. Benjamin Edwards Inc. boosted its stake in shares of Spotify Technology by 214.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company's stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Mather Group LLC. boosted 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 acquiring an additional 99 shares in the last quarter. Asset Dedication LLC acquired a new stake in shares of Spotify Technology in the 2nd quarter worth approximately $35,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Spotify Technology in the 2nd quarter valued at approximately $39,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the company. Phillip Securities reissued an "accumulate" rating and issued a $485.00 target price (up previously from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. Barclays raised their target price on shares of Spotify Technology from $385.00 to $475.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Guggenheim upped their price target on shares of Spotify Technology from $400.00 to $420.00 and gave the company a "buy" rating in a report on Wednesday, July 24th. Pivotal Research upped their target price on Spotify Technology from $510.00 to $565.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Finally, Bank of America increased their target price on Spotify Technology from $430.00 to $515.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $421.69.
Get Our Latest Stock Analysis on SPOT
Spotify Technology Price Performance
Shares of NYSE SPOT traded down $3.96 during mid-day trading on Monday, reaching $454.36. 2,942,565 shares of the company's stock traded hands, compared to its average volume of 1,940,571. The business has a 50-day simple moving average of $378.15 and a 200 day simple moving average of $338.61. Spotify Technology S.A. has a 1-year low of $175.00 and a 1-year high of $489.69. The stock has a market cap of $90.44 billion, a P/E ratio of 124.73 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 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.30). The business had revenue of $3.99 billion during 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 quarterly revenue was up 18.8% on a year-over-year basis. During the same period last year, the business posted $0.36 earnings per share. Equities research analysts anticipate that Spotify Technology S.A. will post 6.09 earnings per share for the current fiscal year.
Spotify Technology Profile
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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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