National Bank of Canada FI Grows Holdings in Spotify Technology S.A. (NYSE:SPOT)

National Bank of Canada FI raised its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 1,001.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 27,404 shares of the company's stock after acquiring an additional 24,915 shares during the period. National Bank of Canada FI's holdings in Spotify Technology were worth $10,099,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of SPOT. Transcendent Capital Group LLC bought a new position in shares of Spotify Technology in the second quarter valued at $25,000. Benjamin Edwards Inc. raised its holdings in shares of Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company's stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Asset Dedication LLC bought a new position in Spotify Technology in the 2nd quarter valued at about $35,000. Larson Financial Group LLC boosted its stake 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 purchasing an additional 33 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Spotify Technology during the 2nd quarter worth approximately $39,000. 84.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SPOT shares. Rosenblatt Securities lifted their target price on Spotify Technology from $399.00 to $438.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Morgan Stanley upped their target price on shares of Spotify Technology from $430.00 to $460.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. TD Cowen raised their price target on shares of Spotify Technology from $356.00 to $416.00 and gave the company a "hold" rating in a research report on Wednesday, November 13th. Bank of America upped their price objective on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group lifted their target price on shares of Spotify Technology from $430.00 to $490.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $429.96.

Spotify Technology Stock Performance

NYSE SPOT traded up $3.20 during trading hours on Thursday, hitting $480.11. The company had a trading volume of 1,543,556 shares, compared to its average volume of 2,065,591. The firm has a market capitalization of $95.57 billion, a price-to-earnings ratio of 131.64 and a beta of 1.61. Spotify Technology S.A. has a 52 week low of $185.37 and a 52 week high of $506.47. The firm has a 50 day simple moving average of $422.27 and a 200 day simple moving average of $360.96.

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 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 firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter last year, the business posted $0.36 earnings per share. Spotify Technology's revenue was up 18.8% compared to the same quarter last year. On average, research analysts forecast that Spotify Technology S.A. will post 6.02 earnings per share for the current year.

Spotify Technology 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.