Spotify Technology S.A. (NYSE:SPOT) Stake Raised by TFB Advisors LLC

TFB Advisors LLC boosted its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 3.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,559 shares of the company’s stock after purchasing an additional 59 shares during the period. TFB Advisors LLC’s holdings in Spotify Technology were worth $697,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SPOT. WCM Investment Management LLC grew its stake in Spotify Technology by 18.5% in the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after purchasing an additional 605,755 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Spotify Technology by 3.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock worth $1,286,969,000 after purchasing an additional 102,786 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of Spotify Technology in the fourth quarter worth about $1,335,575,000. State Street Corp raised its position in shares of Spotify Technology by 1.5% in the third quarter. State Street Corp now owns 1,997,323 shares of the company’s stock valued at $736,073,000 after purchasing an additional 28,864 shares during the period. Finally, FMR LLC grew its holdings in Spotify Technology by 23.4% in the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after buying an additional 297,035 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $623.06 on Wednesday. Spotify Technology S.A. has a 1 year low of $228.07 and a 1 year high of $642.27. The firm has a market cap of $124.02 billion, a PE ratio of 104.72 and a beta of 1.63. The company has a 50 day simple moving average of $497.11 and a 200 day simple moving average of $417.98.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. As a group, research analysts anticipate that Spotify Technology S.A. will post 9.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on SPOT. UBS Group increased their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Wolfe Research reiterated a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. JPMorgan Chase & Co. boosted their target price on shares of Spotify Technology from $555.00 to $730.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Canaccord Genuity Group increased their price target on shares of Spotify Technology from $650.00 to $700.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Finally, Pivotal Research lifted their target price on Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $514.79.

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.