Aubrey Capital Management Ltd Increases Stake in Spotify Technology S.A. (NYSE:SPOT)

Aubrey Capital Management Ltd boosted its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,000 shares of the company’s stock after acquiring an additional 300 shares during the quarter. Spotify Technology accounts for 1.7% of Aubrey Capital Management Ltd’s holdings, making the stock its 18th largest position. Aubrey Capital Management Ltd’s holdings in Spotify Technology were worth $4,473,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Prestige Wealth Management Group LLC purchased a new stake in shares of Spotify Technology in the third quarter valued at approximately $26,000. Hobbs Group Advisors LLC purchased a new stake in shares of Spotify Technology in the third quarter valued at approximately $33,000. Larson Financial Group LLC increased its position in shares of Spotify Technology by 51.6% in the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after buying an additional 33 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Spotify Technology in the third quarter valued at approximately $40,000. Finally, Rakuten Securities Inc. increased its position in shares of Spotify Technology by 40.5% in the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after buying an additional 32 shares in the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Trading Down 0.4 %

SPOT stock opened at $623.54 on Monday. The business’s fifty day moving average price is $493.96 and its 200 day moving average price is $415.25. Spotify Technology S.A. has a 12-month low of $228.07 and a 12-month high of $632.45. The company has a market capitalization of $124.12 billion, a PE ratio of 104.80 and a beta of 1.63.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter last year, the company earned $0.36 EPS. Spotify Technology’s revenue for the quarter was up 18.8% compared to the same quarter last year. Research analysts predict that Spotify Technology S.A. will post 9.69 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Guggenheim boosted their price objective on Spotify Technology from $520.00 to $675.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Bank of America lifted their price target on Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Benchmark lifted their price target on Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $658.00 price target (up from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Finally, Piper Sandler boosted their price objective on Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $514.79.

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.