Spotify Technology S.A. (NYSE:SPOT) is Y Intercept Hong Kong Ltd's 4th Largest Position

Y Intercept Hong Kong Ltd grew its stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 89.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,328 shares of the company's stock after purchasing an additional 24,697 shares during the quarter. Spotify Technology comprises about 1.2% of Y Intercept Hong Kong Ltd's portfolio, making the stock its 4th biggest holding. Y Intercept Hong Kong Ltd's holdings in Spotify Technology were worth $19,284,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Mather Group LLC. lifted its position in shares of Spotify Technology by 9,900.0% in the second quarter. Mather Group LLC. now owns 100 shares of the company's stock valued at $31,000 after buying an additional 99 shares during the last quarter. RFG Advisory LLC boosted its position in Spotify Technology by 21.4% during the second quarter. RFG Advisory LLC now owns 1,750 shares of the company's stock worth $549,000 after purchasing an additional 308 shares during the period. Park National Corp OH acquired a new position in shares of Spotify Technology in the second quarter valued at $218,000. Sequoia Financial Advisors LLC raised its position in shares of Spotify Technology by 20.2% in the second quarter. Sequoia Financial Advisors LLC now owns 1,037 shares of the company's stock valued at $325,000 after purchasing an additional 174 shares during the period. Finally, Wedmont Private Capital raised its position in shares of Spotify Technology by 29.5% in the second quarter. Wedmont Private Capital now owns 965 shares of the company's stock valued at $292,000 after purchasing an additional 220 shares during the period. Institutional investors own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

SPOT has been the subject of a number of research reports. Barclays increased their price target on Spotify Technology from $385.00 to $475.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Phillip Securities reaffirmed an "accumulate" rating and set a $485.00 price objective (up previously from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. Piper Sandler boosted their target price on shares of Spotify Technology from $330.00 to $450.00 and gave the company a "neutral" rating in a research report on Wednesday, November 13th. Morgan Stanley upped their price target on shares of Spotify Technology from $430.00 to $460.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Finally, Evercore ISI lifted their price objective on shares of Spotify Technology from $420.00 to $460.00 and gave the company an "outperform" rating in a research note on Thursday, August 29th. One investment 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 company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $429.96.

Spotify Technology Stock Down 3.2 %

Spotify Technology stock traded down $15.94 during midday trading on Monday, hitting $482.69. 2,902,947 shares of the stock were exchanged, compared to its average volume of 2,065,260. The stock has a market capitalization of $96.08 billion, a price-to-earnings ratio of 131.17 and a beta of 1.61. Spotify Technology S.A. has a 52-week low of $185.37 and a 52-week high of $506.47. The business's 50-day moving average price is $418.31 and its 200-day moving average price is $359.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share (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 for the quarter, compared to analysts' expectations of $4.03 billion. During the same quarter in the previous year, the business earned $0.36 EPS. The company's revenue for the quarter was up 18.8% on a year-over-year basis. On average, sell-side analysts predict that Spotify Technology S.A. will post 6.02 earnings per share 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.