Stifel Financial Corp Acquires 8,919 Shares of Spotify Technology S.A. (NYSE:SPOT)

Stifel Financial Corp increased its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 16.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 64,083 shares of the company's stock after buying an additional 8,919 shares during the period. Stifel Financial Corp's holdings in Spotify Technology were worth $23,617,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Quantinno Capital Management LP boosted its stake in Spotify Technology by 14.2% during the 3rd quarter. Quantinno Capital Management LP now owns 9,500 shares of the company's stock valued at $3,501,000 after purchasing an additional 1,180 shares during the period. Royal London Asset Management Ltd. boosted its stake in Spotify Technology by 6.8% during the 3rd quarter. Royal London Asset Management Ltd. now owns 62,661 shares of the company's stock valued at $23,092,000 after purchasing an additional 3,984 shares during the period. Point72 Asset Management L.P. boosted its stake in Spotify Technology by 93.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 360,760 shares of the company's stock valued at $132,951,000 after purchasing an additional 174,339 shares during the period. Maven Securities LTD boosted its stake in Spotify Technology by 176.2% during the 3rd quarter. Maven Securities LTD now owns 2,500 shares of the company's stock valued at $921,000 after purchasing an additional 1,595 shares during the period. Finally, Integrated Wealth Concepts LLC boosted its stake in Spotify Technology by 5.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,743 shares of the company's stock valued at $642,000 after purchasing an additional 93 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPOT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Spotify Technology from $425.00 to $530.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Morgan Stanley boosted their price target on shares of Spotify Technology from $430.00 to $460.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. TD Cowen boosted their price target on shares of Spotify Technology from $356.00 to $416.00 and gave the stock a "hold" rating in a research report on Wednesday, November 13th. Piper Sandler boosted their price target on shares of Spotify Technology from $330.00 to $450.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 13th. Finally, Pivotal Research boosted their price target on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $429.96.

Spotify Technology Stock Down 3.2 %

Shares of Spotify Technology stock traded down $16.11 during trading on Monday, hitting $482.52. The stock had a trading volume of 2,901,206 shares, compared to its average volume of 2,065,260. The stock has a 50 day simple moving average of $416.02 and a 200 day simple moving average of $357.72. Spotify Technology S.A. has a 1 year low of $185.37 and a 1 year high of $506.47. The company has a market capitalization of $96.05 billion, a PE ratio of 135.50 and a beta of 1.61.

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 analysts' consensus estimates of $1.75 by ($0.30). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The company had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $4.03 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The business's revenue for the quarter was up 18.8% on a year-over-year basis. As a group, equities analysts expect that Spotify Technology S.A. will post 6.02 earnings per share for the current fiscal year.

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.