Oddo BHF Asset Management Sas purchased a new position in shares of 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 & Exchange Commission. The institutional investor purchased 23,440 shares of the company's stock, valued at approximately $8,638,000.
Other large investors have also modified their holdings of the company. Prestige Wealth Management Group LLC acquired a new stake in Spotify Technology in the 3rd quarter valued at about $26,000. Transcendent Capital Group LLC acquired a new position in Spotify Technology in the 2nd quarter worth approximately $25,000. Benjamin Edwards Inc. grew its position in 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 purchasing an additional 58 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in Spotify Technology during the 3rd quarter valued at $33,000. Finally, Larson Financial Group LLC raised 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 period. Institutional investors and hedge funds own 84.09% of the company's stock.
Spotify Technology Price Performance
Shares of Spotify Technology stock traded up $3.20 during midday trading on Friday, hitting $483.31. 1,431,140 shares of the company were exchanged, compared to its average volume of 2,063,237. The firm has a 50 day simple moving average of $424.43 and a 200-day simple moving average of $361.79. The firm has a market cap of $96.20 billion, a P/E ratio of 130.47 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.
Spotify Technology (NYSE:SPOT - Get Free Report) last posted its earnings results 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). Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same period in the previous year, the company posted $0.36 EPS. The firm's revenue for the quarter was up 18.8% compared to the same quarter last year. Equities research analysts expect that Spotify Technology S.A. will post 6.02 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on SPOT shares. Evercore ISI upped their target price on Spotify Technology from $420.00 to $460.00 and gave the company an "outperform" rating in a report on Thursday, August 29th. Rosenblatt Securities upped their price target on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. Benchmark boosted their target price on Spotify Technology from $430.00 to $440.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Bank of America increased their price objective on Spotify Technology from $430.00 to $515.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company lifted their target price on shares of Spotify Technology from $470.00 to $520.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company's stock. Based on data from MarketBeat, Spotify Technology currently has an average rating of "Moderate Buy" and a consensus target price of $429.96.
Check Out Our Latest Research Report on SPOT
Spotify Technology Company 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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