Pathstone Holdings LLC raised its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 16.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,258 shares of the company's stock after acquiring an additional 3,515 shares during the period. Pathstone Holdings LLC's holdings in Spotify Technology were worth $8,940,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Transcendent Capital Group LLC acquired a new position in shares of Spotify Technology during the second quarter worth approximately $25,000. Benjamin Edwards Inc. boosted its position in shares of Spotify Technology by 214.8% during the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company's stock worth $27,000 after buying an additional 58 shares during the period. Mather Group LLC. raised its holdings in Spotify Technology by 9,900.0% during the second quarter. Mather Group LLC. now owns 100 shares of the company's stock worth $31,000 after purchasing an additional 99 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Spotify Technology during the third quarter worth approximately $40,000. Finally, Rakuten Securities Inc. raised its holdings in Spotify Technology by 40.5% during the third quarter. Rakuten Securities Inc. now owns 111 shares of the company's stock worth $41,000 after purchasing an additional 32 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.
Spotify Technology Trading Up 0.9 %
Spotify Technology stock traded up $4.34 on Friday, reaching $475.04. 2,293,885 shares of the stock were exchanged, compared to its average volume of 1,948,976. The stock has a market cap of $94.56 billion, a PE ratio of 129.79 and a beta of 1.56. Spotify Technology S.A. has a twelve month low of $178.73 and a twelve month high of $489.69. The firm has a fifty day moving average price of $388.87 and a two-hundred day moving average price of $342.73.
Spotify Technology (NYSE:SPOT - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing analysts' consensus estimates of $1.75 by ($0.30). The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates 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 firm earned $0.36 EPS. Equities analysts anticipate that Spotify Technology S.A. will post 6.02 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on SPOT shares. Wells Fargo & Company boosted their target price on Spotify Technology from $470.00 to $520.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Benchmark boosted their target price on Spotify Technology from $430.00 to $440.00 and gave the stock a "buy" rating in a report on Monday, November 11th. KeyCorp upped their price target on Spotify Technology from $490.00 to $520.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft upped their price target on Spotify Technology from $430.00 to $440.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Finally, Rosenblatt Securities upped their price target on Spotify Technology from $399.00 to $438.00 and gave the company a "buy" rating in a report on Thursday, October 17th. One equities research 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 stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $421.69.
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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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