Benjamin Edwards Inc. Grows Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Benjamin Edwards Inc. raised its stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 5,045.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 4,374 shares of the company's stock after purchasing an additional 4,289 shares during the period. Benjamin Edwards Inc.'s holdings in Spotify Technology were worth $1,612,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its holdings in shares of Spotify Technology by 5.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company's stock worth $176,000 after purchasing an additional 26 shares during the period. West Bancorporation Inc. increased its holdings in shares of Spotify Technology by 3.4% in the third quarter. West Bancorporation Inc. now owns 827 shares of the company's stock worth $305,000 after purchasing an additional 27 shares during the period. Avior Wealth Management LLC increased its holdings in shares of Spotify Technology by 12.0% in the third quarter. Avior Wealth Management LLC now owns 281 shares of the company's stock worth $104,000 after purchasing an additional 30 shares during the period. Washington Trust Advisors Inc. grew its position in Spotify Technology by 12.0% in the third quarter. Washington Trust Advisors Inc. now owns 299 shares of the company's stock worth $110,000 after acquiring an additional 32 shares in the last quarter. Finally, Rakuten Securities Inc. grew its position in Spotify Technology by 40.5% in the third quarter. Rakuten Securities Inc. now owns 111 shares of the company's stock worth $41,000 after acquiring an additional 32 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Spotify Technology from $430.00 to $490.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Rosenblatt Securities upped their price target on shares of Spotify Technology from $399.00 to $438.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Macquarie upped their price target on shares of Spotify Technology from $395.00 to $500.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Canaccord Genuity Group upped their price target on shares of Spotify Technology from $525.00 to $560.00 and gave the company a "buy" rating in a research report on Monday. Finally, Wells Fargo & Company upped their price target on shares of Spotify Technology from $470.00 to $520.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $422.90.

Spotify Technology Stock Performance

Shares of Spotify Technology stock traded down $0.15 on Friday, hitting $493.36. 1,064,452 shares of the company's stock were exchanged, compared to its average volume of 2,057,667. The company has a 50-day simple moving average of $413.44 and a 200-day simple moving average of $355.61. The stock has a market capitalization of $98.20 billion, a PE ratio of 134.11 and a beta of 1.61. Spotify Technology S.A. has a 1 year low of $185.37 and a 1 year high of $506.47.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.30). The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The firm's revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 earnings per share. On average, analysts expect that Spotify Technology S.A. will post 6.02 EPS for the current fiscal year.

Spotify Technology Company Profile

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.