Royal London Asset Management Ltd. grew its stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 6.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,661 shares of the company's stock after acquiring an additional 3,984 shares during the period. Royal London Asset Management Ltd.'s holdings in Spotify Technology were worth $23,092,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers grew its position in Spotify Technology by 95.2% in the 1st quarter. Cetera Investment Advisers now owns 13,332 shares of the company's stock worth $3,518,000 after purchasing an additional 6,502 shares during the last quarter. Cetera Advisors LLC raised its holdings in Spotify Technology by 19.8% during the first quarter. Cetera Advisors LLC now owns 3,185 shares of the company's stock worth $840,000 after purchasing an additional 526 shares in the last quarter. Mather Group LLC. boosted its stake in Spotify Technology by 9,900.0% during the 2nd quarter. Mather Group LLC. now owns 100 shares of the company's stock valued at $31,000 after purchasing an additional 99 shares in the last quarter. Simplicity Wealth LLC increased its position in shares of Spotify Technology by 7.4% during the 2nd quarter. Simplicity Wealth LLC now owns 1,854 shares of the company's stock valued at $582,000 after purchasing an additional 127 shares during the period. Finally, Csenge Advisory Group lifted its holdings in shares of Spotify Technology by 17.7% in the second quarter. Csenge Advisory Group now owns 1,032 shares of the company's stock valued at $324,000 after buying an additional 155 shares during the period. Institutional investors own 84.09% of the company's stock.
Analysts Set New Price Targets
A number of research analysts recently issued reports on SPOT shares. Piper Sandler lifted their target price on Spotify Technology from $330.00 to $450.00 and gave the stock a "neutral" rating in a report on Wednesday, November 13th. TD Cowen raised their target price on shares of Spotify Technology from $356.00 to $416.00 and gave the stock a "hold" rating in a report on Wednesday, November 13th. KeyCorp raised their price objective on Spotify Technology from $490.00 to $520.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Rosenblatt Securities lifted their target price on Spotify Technology from $399.00 to $438.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $340.00 target price on shares of Spotify Technology in a report on Monday, October 7th. 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. Based on data from MarketBeat.com, Spotify Technology has an average rating of "Moderate Buy" and an average price target of $422.90.
Read Our Latest Analysis on Spotify Technology
Spotify Technology Stock Up 1.0 %
SPOT stock traded up $5.12 during trading hours on Friday, hitting $498.63. The company's stock had a trading volume of 1,841,230 shares, compared to its average volume of 4,370,573. Spotify Technology S.A. has a 12 month low of $185.37 and a 12 month high of $506.47. The stock has a 50 day moving average price of $413.44 and a two-hundred day moving average price of $355.61. The company has a market capitalization of $99.25 billion, a PE ratio of 135.50 and a beta of 1.61.
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 analysts' consensus estimates 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 analyst estimates of $4.03 billion. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Spotify Technology's quarterly revenue was up 18.8% compared to the same quarter last year. Sell-side analysts expect that Spotify Technology S.A. will post 6.02 earnings per share for the current year.
About Spotify Technology
(
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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