4,835 Shares in Spotify Technology S.A. (NYSE:SPOT) Bought by Virtu Financial LLC

Virtu Financial LLC acquired a new position in Spotify Technology S.A. (NYSE:SPOT - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 4,835 shares of the company's stock, valued at approximately $1,782,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Transcendent Capital Group LLC purchased a new stake in Spotify Technology during the second quarter valued at about $25,000. Prestige Wealth Management Group LLC purchased a new stake in shares of Spotify Technology in the 3rd quarter valued at approximately $26,000. Benjamin Edwards Inc. lifted its position in shares of Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company's stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in Spotify Technology in the 3rd quarter worth approximately $33,000. Finally, Asset Dedication LLC purchased a new position in Spotify Technology during the 2nd quarter worth approximately $35,000. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Performance

Shares of NYSE:SPOT traded up $3.20 during midday trading on Friday, hitting $483.31. The company's stock had a trading volume of 1,431,140 shares, compared to its average volume of 2,063,237. The stock's 50 day simple moving average is $424.43 and its 200 day simple moving average is $361.79. The stock has a market capitalization of $96.20 billion, a price-to-earnings ratio of 130.47 and a beta of 1.61. Spotify Technology S.A. has a fifty-two week low of $185.37 and a fifty-two week high of $506.47.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share (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 business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same period last year, the business earned $0.36 EPS. The business's quarterly revenue was up 18.8% compared to the same quarter last year. As a group, analysts anticipate that Spotify Technology S.A. will post 6.02 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SPOT shares. Evercore ISI raised their target price on Spotify Technology from $420.00 to $460.00 and gave the stock an "outperform" rating in a research report on Thursday, August 29th. KeyCorp raised their price objective on Spotify Technology from $490.00 to $520.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft lifted their target price on Spotify Technology from $430.00 to $440.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Rosenblatt Securities increased their price target on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. Finally, Pivotal Research raised their price target on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $429.96.

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.