Glenmede Trust Co. NA Acquires 100 Shares of Spotify Technology S.A. (NYSE:SPOT)

Glenmede Trust Co. NA boosted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 0.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,937 shares of the company’s stock after buying an additional 100 shares during the quarter. Glenmede Trust Co. NA’s holdings in Spotify Technology were worth $19,509,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. WCM Investment Management LLC increased its holdings in shares of Spotify Technology by 18.5% during the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after acquiring an additional 605,755 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Spotify Technology by 36,910.0% during the third quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock valued at $128,073,000 after purchasing an additional 346,585 shares during the last quarter. Sei Investments Co. grew its holdings in Spotify Technology by 106.8% during the second quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock valued at $202,828,000 after purchasing an additional 333,782 shares during the last quarter. FMR LLC raised its position in shares of Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after purchasing an additional 297,035 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Spotify Technology by 179.0% in the third quarter. Assenagon Asset Management S.A. now owns 380,214 shares of the company’s stock worth $140,120,000 after buying an additional 243,933 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SPOT has been the topic of a number of research analyst reports. Macquarie raised their target price on shares of Spotify Technology from $395.00 to $500.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Benchmark lifted their price objective on Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. The Goldman Sachs Group increased their target price on Spotify Technology from $430.00 to $490.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Evercore ISI lifted their price target on Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Bank of America upped their price target on Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $421.69.

Spotify Technology Stock Performance

Shares of NYSE:SPOT opened at $475.34 on Thursday. The company’s fifty day moving average is $399.75 and its 200-day moving average is $348.05. Spotify Technology S.A. has a 52 week low of $179.66 and a 52 week high of $489.69. The company has a market capitalization of $94.62 billion, a PE ratio of 129.17 and a beta of 1.56.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). The firm 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%. Spotify Technology’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 earnings per share. On average, analysts forecast that Spotify Technology S.A. will post 6.02 EPS for the current year.

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.