4,007 Shares in Spotify Technology S.A. (NYSE:SPOT) Purchased by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB acquired a new stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the third quarter, according to its most recent filing with the SEC. The fund acquired 4,007 shares of the company's stock, valued at approximately $1,477,000.

Other institutional investors have also recently made changes to their positions in the company. WCM Investment Management LLC increased its stake in Spotify Technology by 18.5% in the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company's stock worth $1,430,142,000 after purchasing an additional 605,755 shares during the period. International Assets Investment Management LLC raised its holdings in Spotify Technology by 36,910.0% during the 3rd quarter. International Assets Investment Management LLC now owns 347,524 shares of the company's stock valued at $128,073,000 after buying an additional 346,585 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Spotify Technology by 106.8% during the second quarter. Sei Investments Co. now owns 646,380 shares of the company's stock worth $202,828,000 after purchasing an additional 333,782 shares during the period. FMR LLC grew its position in shares of Spotify Technology by 23.4% in the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company's stock worth $577,788,000 after buying an additional 297,035 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Spotify Technology by 3,948.3% in the third quarter. Janus Henderson Group PLC now owns 264,233 shares of the company's stock valued at $97,329,000 after acquiring an additional 257,706 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on SPOT. Benchmark raised their price objective on Spotify Technology from $430.00 to $440.00 and gave the company a "buy" rating in a research report on Monday, November 11th. TD Cowen raised their price objective on shares of Spotify Technology from $356.00 to $416.00 and gave the company a "hold" rating in a research note on Wednesday, November 13th. Canaccord Genuity Group upped their target price on shares of Spotify Technology from $525.00 to $560.00 and gave the stock a "buy" rating in a research note on Monday, December 2nd. Barclays increased their price target on shares of Spotify Technology from $385.00 to $475.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Finally, Bank of America boosted their price objective on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, Spotify Technology has a consensus rating of "Moderate Buy" and an average target price of $429.96.

Spotify Technology Stock Up 0.7 %

SPOT traded up $3.20 during midday trading on Friday, reaching $483.31. 1,432,067 shares of the company's stock were exchanged, compared to its average volume of 3,451,447. Spotify Technology S.A. has a one year low of $185.37 and a one year high of $506.47. The business has a 50-day simple moving average of $426.66 and a two-hundred day simple moving average of $363.38. The firm has a market capitalization of $96.20 billion, a price-to-earnings ratio of 131.33 and a beta of 1.61.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The company's revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. As a group, research analysts anticipate that Spotify Technology S.A. will post 6.02 EPS 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.