Brooklyn Investment Group Invests $69,000 in Spotify Technology S.A. (NYSE:SPOT)

Brooklyn Investment Group bought a new position in Spotify Technology S.A. (NYSE:SPOT) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 187 shares of the company’s stock, valued at approximately $69,000.

A number of other large investors have also bought and sold shares of SPOT. Transcendent Capital Group LLC bought a new stake in shares of Spotify Technology in the 2nd quarter worth approximately $25,000. Benjamin Edwards Inc. grew its stake in shares of Spotify Technology by 214.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Mather Group LLC. increased its holdings in Spotify Technology by 9,900.0% during 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. Asset Dedication LLC bought a new stake in Spotify Technology during the second quarter valued at about $35,000. Finally, Larson Financial Group LLC increased its holdings in Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after acquiring an additional 33 shares in the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Down 0.3 %

Shares of SPOT stock opened at $475.24 on Friday. The stock has a 50-day simple moving average of $402.06 and a 200 day simple moving average of $348.93. Spotify Technology S.A. has a fifty-two week low of $179.66 and a fifty-two week high of $489.69. The stock has a market capitalization of $94.60 billion, a P/E ratio of 129.14 and a beta of 1.56.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share 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 for the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the prior year, the firm posted $0.36 EPS. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Spotify Technology S.A. will post 6.02 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on SPOT. Morgan Stanley upped their price target on Spotify Technology from $430.00 to $460.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Pivotal Research increased their target price on shares of Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Rosenblatt Securities lifted their target price on Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Benchmark boosted their price target on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, KeyCorp boosted their price target on shares of Spotify Technology from $490.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $421.69.

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.