M3 Advisory Group LLC Takes Position in Spotify Technology S.A. (NYSE:SPOT)

M3 Advisory Group LLC purchased a new position in shares of Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 457 shares of the company’s stock, valued at approximately $204,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Prestige Wealth Management Group LLC purchased a new position in shares of Spotify Technology in the 3rd quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new stake in Spotify Technology during the third quarter worth $33,000. Larson Financial Group LLC boosted its position in Spotify Technology by 51.6% in the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after purchasing an additional 33 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Spotify Technology in the 3rd quarter valued at $40,000. Finally, Rakuten Securities Inc. grew its stake in Spotify Technology by 40.5% in the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after purchasing an additional 32 shares during the period. 84.09% of the stock is owned by institutional investors.

Spotify Technology Trading Up 1.9 %

SPOT stock opened at $511.19 on Friday. Spotify Technology S.A. has a 1-year low of $210.34 and a 1-year high of $512.01. The stock has a market cap of $101.75 billion, a price-to-earnings ratio of 138.91 and a beta of 1.62. The company’s 50 day moving average is $473.74 and its 200 day moving average is $395.66.

Spotify Technology (NYSE:SPOT) last issued 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). Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same period in the previous year, the company earned $0.36 EPS. Spotify Technology’s quarterly revenue was up 18.8% on a year-over-year basis. As a group, sell-side analysts forecast that Spotify Technology S.A. will post 5.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SPOT. UBS Group increased their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Cantor Fitzgerald reissued a “neutral” rating and set a $340.00 target price on shares of Spotify Technology in a research report on Monday, October 7th. Pivotal Research lifted their price target on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Wolfe Research reissued a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. Finally, Wells Fargo & Company raised their target price on Spotify Technology from $470.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $441.21.

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.