Federated Hermes Inc. Raises Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Federated Hermes Inc. raised its stake in Spotify Technology S.A. (NYSE:SPOT) by 0.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 586,958 shares of the company’s stock after purchasing an additional 1,752 shares during the period. Federated Hermes Inc.’s holdings in Spotify Technology were worth $184,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the company. Larson Financial Group LLC boosted its holdings in Spotify Technology by 86.0% in the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after acquiring an additional 43 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Spotify Technology during the second quarter valued at about $25,000. Mather Group LLC. raised its position in shares of Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after purchasing an additional 99 shares during the last quarter. FinTrust Capital Advisors LLC boosted its stake in Spotify Technology by 400.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. Finally, Asset Dedication LLC purchased a new stake in Spotify Technology during the 2nd quarter worth approximately $35,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $337.62 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. Spotify Technology S.A. has a 12-month low of $145.76 and a 12-month high of $359.38. The business’s 50 day moving average is $326.74 and its two-hundred day moving average is $303.38.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.25. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same quarter last year, the firm posted ($1.69) EPS. The business’s revenue was up 19.8% on a year-over-year basis. On average, equities analysts expect that Spotify Technology S.A. will post 6.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Evercore ISI raised their price target on shares of Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Redburn Atlantic reaffirmed a “sell” rating and set a $230.00 price target on shares of Spotify Technology in a research report on Wednesday, July 10th. DZ Bank upgraded Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price target on the stock in a research note on Wednesday, July 24th. Morgan Stanley raised their price objective on Spotify Technology from $370.00 to $400.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Barclays upped their target price on Spotify Technology from $350.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $356.38.

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.