West Oak Capital LLC raised its holdings in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 449,633.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,984 shares of the company's stock after buying an additional 26,978 shares during the period. Spotify Technology comprises approximately 3.7% of West Oak Capital LLC's investment portfolio, making the stock its 4th biggest position. West Oak Capital LLC's holdings in Spotify Technology were worth $12,072,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. National Bank of Canada FI raised its stake in Spotify Technology by 3.0% in the second quarter. National Bank of Canada FI now owns 2,489 shares of the company's stock worth $781,000 after buying an additional 73 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Spotify Technology by 118.3% during the second quarter. Private Advisor Group LLC now owns 3,023 shares of the company's stock worth $949,000 after purchasing an additional 1,638 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Spotify Technology during the second quarter worth $39,000. Wedbush Securities Inc. acquired a new position in shares of Spotify Technology during the second quarter worth $428,000. Finally, Royal London Asset Management Ltd. increased its position in shares of Spotify Technology by 1.0% during the second quarter. Royal London Asset Management Ltd. now owns 58,677 shares of the company's stock worth $18,412,000 after purchasing an additional 581 shares in the last quarter. Institutional investors own 84.09% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on SPOT. Pivotal Research upped their price target on Spotify Technology from $510.00 to $565.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Morgan Stanley boosted their price objective on shares of Spotify Technology from $430.00 to $460.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Rosenblatt Securities boosted their price objective on shares of Spotify Technology from $399.00 to $438.00 and gave the company a "buy" rating in a report on Thursday, October 17th. The Goldman Sachs Group boosted their price objective on shares of Spotify Technology from $490.00 to $550.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Piper Sandler boosted their price objective on shares of Spotify Technology from $330.00 to $450.00 and gave the company a "neutral" rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $433.36.
Get Our Latest Stock Analysis on SPOT
Spotify Technology Stock Performance
Shares of SPOT traded down $19.91 during mid-day trading on Friday, hitting $459.82. 2,966,125 shares of the company were exchanged, compared to its average volume of 1,735,368. Spotify Technology S.A. has a 1-year low of $191.88 and a 1-year high of $506.47. The company has a 50 day moving average of $458.63 and a 200-day moving average of $382.82. The stock has a market cap of $91.53 billion, a price-to-earnings ratio of 124.95 and a beta of 1.62.
Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly 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 company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same quarter last year, the company earned $0.36 EPS. The firm's revenue for the quarter was up 18.8% on a year-over-year basis. Research analysts anticipate that Spotify Technology S.A. will post 6.02 earnings per share for the current fiscal 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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