Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Hilltop Holdings Inc.

Hilltop Holdings Inc. increased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 60.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,765 shares of the company’s stock after purchasing an additional 665 shares during the quarter. Hilltop Holdings Inc.’s holdings in Spotify Technology were worth $650,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Transcendent Capital Group LLC acquired a new stake in shares of Spotify Technology in the second quarter worth $25,000. Benjamin Edwards Inc. boosted its position in Spotify Technology by 214.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Mather Group LLC. increased its holdings in Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after purchasing an additional 99 shares in the last quarter. Asset Dedication LLC purchased a new position in Spotify Technology in the second quarter valued at about $35,000. Finally, Larson Financial Group LLC lifted its stake in shares of Spotify Technology by 51.6% during 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 in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

SPOT stock 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 stock has a market capitalization of $98.23 billion, a price-to-earnings ratio of 134.11 and a beta of 1.61. The stock’s fifty day moving average is $413.44 and its two-hundred day moving average is $355.61.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SPOT. Wells Fargo & Company raised their target price on Spotify Technology from $470.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Pivotal Research boosted their target price on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Canaccord Genuity Group lifted their price target on shares of Spotify Technology from $525.00 to $560.00 and gave the stock a “buy” rating in a research note on Monday. Finally, KeyCorp upped their price objective on shares of Spotify Technology from $490.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $422.90.

About Spotify Technology

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.