Exane Asset Management Takes Position in Spotify Technology S.A. (NYSE:SPOT)

Exane Asset Management acquired a new position in Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,256 shares of the company’s stock, valued at approximately $4,288,000. Spotify Technology makes up about 2.4% of Exane Asset Management’s investment portfolio, making the stock its 12th biggest holding.

Several other institutional investors also recently bought and sold shares of SPOT. Jennison Associates LLC bought a new position in Spotify Technology during the 4th quarter worth about $1,335,575,000. Forsta AP Fonden bought a new stake in shares of Spotify Technology in the 4th quarter valued at about $619,600,000. WCM Investment Management LLC lifted its position in shares of Spotify Technology by 18.5% in the 3rd 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 during the period. International Assets Investment Management LLC boosted its stake in shares of Spotify Technology by 36,910.0% during the third quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock valued at $128,073,000 after purchasing an additional 346,585 shares in the last quarter. Finally, FMR LLC increased its holdings in Spotify Technology by 23.4% during the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after buying an additional 297,035 shares during the period. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Trading Down 0.4 %

Shares of SPOT stock opened at $623.54 on Friday. Spotify Technology S.A. has a twelve month low of $228.07 and a twelve month high of $632.45. The stock has a market cap of $124.12 billion, a P/E ratio of 104.80 and a beta of 1.63. The stock has a 50 day moving average of $491.03 and a 200 day moving average of $412.38.

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 the consensus estimate of $1.75 by ($0.30). Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, research analysts predict that Spotify Technology S.A. will post 9.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company upped their price objective on Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a research note on Wednesday. Rosenblatt Securities restated a “neutral” rating and issued a $658.00 price target (up from $473.00) on shares of Spotify Technology in a report on Wednesday. Benchmark boosted their price objective on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised 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. Finally, UBS Group upped their price target on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and an average 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.