Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Beck Capital Management LLC

Beck Capital Management LLC increased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 0.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,077 shares of the company’s stock after acquiring an additional 103 shares during the quarter. Spotify Technology comprises 1.1% of Beck Capital Management LLC’s investment portfolio, making the stock its 28th biggest position. Beck Capital Management LLC’s holdings in Spotify Technology were worth $4,082,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. WCM Investment Management LLC grew its holdings in Spotify Technology by 18.5% in 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 buying an additional 605,755 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position 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 valued at $1,286,969,000 after acquiring an additional 102,786 shares during the last quarter. FMR LLC grew its holdings 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. Swedbank AB increased its position in Spotify Technology by 13.2% during the second quarter. Swedbank AB now owns 852,526 shares of the company’s stock worth $267,514,000 after purchasing an additional 99,730 shares during the last quarter. Finally, Perpetual Ltd boosted its holdings in Spotify Technology by 24.3% in the 3rd quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock valued at $279,965,000 after purchasing an additional 148,431 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

SPOT has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Spotify Technology from $470.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. 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 report on Wednesday, November 13th. Rosenblatt Securities upped their price target on Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Cantor Fitzgerald reiterated a “neutral” rating and set a $340.00 price target on shares of Spotify Technology in a report on Monday, October 7th. Finally, The Goldman Sachs Group boosted their price objective on shares of Spotify Technology from $430.00 to $490.00 and gave the company a “buy” rating in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus target price of $421.69.

Spotify Technology Stock Performance

SPOT stock opened at $476.96 on Monday. The company’s 50 day moving average price is $404.30 and its 200 day moving average price is $350.99. The firm has a market capitalization of $94.94 billion, a price-to-earnings ratio of 129.61 and a beta of 1.56. Spotify Technology S.A. has a fifty-two week low of $179.66 and a fifty-two week high of $489.69.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data 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 analysts’ expectations of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 earnings per share. Equities analysts forecast that Spotify Technology S.A. will post 6.02 EPS 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.