Ritholtz Wealth Management Acquires 1,241 Shares of Spotify Technology S.A. (NYSE:SPOT)

Ritholtz Wealth Management raised its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 27.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,736 shares of the company's stock after buying an additional 1,241 shares during the quarter. Ritholtz Wealth Management's holdings in Spotify Technology were worth $2,566,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SPOT. SYSTM Wealth Solutions LLC acquired a new position in Spotify Technology in the second quarter valued at approximately $104,000. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Spotify Technology by 20.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 2,600 shares of the company's stock worth $816,000 after purchasing an additional 435 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Spotify Technology by 5.9% in the 2nd quarter. Amalgamated Bank now owns 9,812 shares of the company's stock worth $3,079,000 after purchasing an additional 548 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Spotify Technology by 11.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,728 shares of the company's stock worth $3,642,000 after purchasing an additional 1,212 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Spotify Technology by 400.2% in the 2nd quarter. Hsbc Holdings PLC now owns 94,808 shares of the company's stock worth $29,590,000 after purchasing an additional 75,855 shares in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Trading Down 0.9 %

Shares of SPOT stock traded down $4.27 on Friday, hitting $486.07. 2,021,276 shares of the stock were exchanged, compared to its average volume of 1,296,667. The firm has a market capitalization of $96.75 billion, a PE ratio of 132.08 and a beta of 1.62. Spotify Technology S.A. has a one year low of $200.81 and a one year high of $506.47. The firm's 50 day moving average is $468.82 and its two-hundred day moving average is $389.39.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported $1.45 EPS 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 during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the prior year, the business earned $0.36 EPS. The firm's revenue for the quarter was up 18.8% compared to the same quarter last year. On average, sell-side analysts expect that Spotify Technology S.A. will post 5.96 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SPOT shares. Pivotal Research increased their target price on Spotify Technology from $510.00 to $565.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Barclays increased their target price on Spotify Technology from $385.00 to $475.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. UBS Group increased their target price on Spotify Technology from $485.00 to $540.00 and gave the stock a "buy" rating in a report on Wednesday. JPMorgan Chase & Co. increased their target price on Spotify Technology from $425.00 to $530.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Spotify Technology from $430.00 to $440.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $441.21.

Spotify Technology 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.