Spotify Technology S.A. (NYSE:SPOT) Position Raised by Benjamin Edwards Inc.

Benjamin Edwards Inc. grew its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 5,045.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,374 shares of the company’s stock after purchasing an additional 4,289 shares during the quarter. Benjamin Edwards Inc.’s holdings in Spotify Technology were worth $1,612,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its position in shares of Spotify Technology by 5.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock valued at $176,000 after purchasing an additional 26 shares in the last quarter. West Bancorporation Inc. boosted its holdings in Spotify Technology by 3.4% during the third quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock worth $305,000 after buying an additional 27 shares in the last quarter. Avior Wealth Management LLC grew its position in Spotify Technology by 12.0% in the third quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock worth $104,000 after buying an additional 30 shares during the last quarter. Washington Trust Advisors Inc. grew its position in Spotify Technology by 12.0% in the third quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock worth $110,000 after buying an additional 32 shares during the last quarter. Finally, Rakuten Securities Inc. increased its holdings 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 owned by institutional investors and hedge funds.

Spotify Technology Trading Down 1.8 %

Shares of NYSE:SPOT opened at $493.51 on Friday. Spotify Technology S.A. has a 1 year low of $185.37 and a 1 year high of $506.47. The firm has a fifty day moving average price of $413.44 and a 200 day moving average price of $355.61. The stock has a market capitalization of $98.23 billion, a PE ratio of 134.11 and a beta of 1.61.

Spotify Technology (NYSE:SPOT) last issued 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). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period in the prior year, the company posted $0.36 EPS. The business’s revenue was up 18.8% on a year-over-year basis. On average, sell-side analysts forecast that Spotify Technology S.A. will post 6.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SPOT shares. Evercore ISI lifted their target price on Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. TD Cowen increased their price target on Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. KeyCorp boosted their price objective on Spotify Technology from $490.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $340.00 target price on shares of Spotify Technology in a report on Monday, October 7th. Finally, Phillip Securities reissued an “accumulate” rating and issued a $485.00 target price (up from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. One investment 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $422.90.

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.