Quantinno Capital Management LP Purchases 1,180 Shares of Spotify Technology S.A. (NYSE:SPOT)

Quantinno Capital Management LP grew its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 14.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,500 shares of the company's stock after purchasing an additional 1,180 shares during the quarter. Quantinno Capital Management LP's holdings in Spotify Technology were worth $3,501,000 as of its most recent SEC filing.

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

Spotify Technology Price Performance

SPOT stock traded down $13.84 during midday trading on Tuesday, reaching $468.68. 1,766,974 shares of the stock were exchanged, compared to its average volume of 2,063,377. The stock has a market capitalization of $93.29 billion, a PE ratio of 131.17 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 company has a fifty day moving average price of $418.31 and a 200 day moving average price of $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 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 business's revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. As a group, analysts anticipate that Spotify Technology S.A. will post 6.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Cantor Fitzgerald reiterated a "neutral" rating and set a $340.00 target price on shares of Spotify Technology in a research report on Monday, October 7th. Wells Fargo & Company boosted their price target on shares of Spotify Technology from $470.00 to $520.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Phillip Securities reiterated an "accumulate" rating and issued a $485.00 target price (up previously from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. The Goldman Sachs Group lifted their price target on Spotify Technology from $430.00 to $490.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Finally, Morgan Stanley increased 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. One equities research 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 company's stock. Based on data from MarketBeat, Spotify Technology has an average rating of "Moderate Buy" and an average target price 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.