Spotify Technology S.A. (NYSE:SPOT) Stock Holdings Increased by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. raised its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 20.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 454 shares of the company’s stock after acquiring an additional 76 shares during the period. Raleigh Capital Management Inc.’s holdings in Spotify Technology were worth $203,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. WCM Investment Management LLC raised its holdings in Spotify Technology by 18.5% during the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after purchasing an additional 605,755 shares in the last quarter. Massachusetts Financial Services Co. MA increased 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 purchasing an additional 102,786 shares during the period. State Street Corp raised its stake in shares of Spotify Technology by 1.5% in the 3rd quarter. State Street Corp now owns 1,997,323 shares of the company’s stock worth $736,073,000 after buying an additional 28,864 shares in the last quarter. FMR LLC raised its stake in shares of Spotify Technology by 23.4% in the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after buying an additional 297,035 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of Spotify Technology by 19.0% in the third quarter. Two Sigma Advisers LP now owns 980,000 shares of the company’s stock valued at $361,159,000 after buying an additional 156,300 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Pivotal Research lifted their target price on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Rosenblatt Securities boosted their target price on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Wolfe Research restated a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. Morgan Stanley upped their price target on Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, TD Cowen raised their price objective on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $441.21.

Spotify Technology Trading Up 1.5 %

NYSE SPOT opened at $500.85 on Friday. Spotify Technology S.A. has a 1 year low of $209.18 and a 1 year high of $510.84. The company has a fifty day simple moving average of $472.22 and a 200 day simple moving average of $393.55. The company has a market cap of $99.69 billion, a P/E ratio of 136.10 and a beta of 1.62.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The firm’s revenue was up 18.8% on a year-over-year basis. During the same quarter last year, the company earned $0.36 earnings per share. Equities research analysts forecast that Spotify Technology S.A. will post 5.91 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.