Stifel Financial Corp Purchases 8,919 Shares of Spotify Technology S.A. (NYSE:SPOT)

Stifel Financial Corp boosted its position in Spotify Technology S.A. (NYSE:SPOT) by 16.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 64,083 shares of the company’s stock after acquiring an additional 8,919 shares during the period. Stifel Financial Corp’s holdings in Spotify Technology were worth $23,617,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Transcendent Capital Group LLC bought a new stake in shares of Spotify Technology in the second quarter worth about $25,000. Benjamin Edwards Inc. lifted its holdings in Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after buying an additional 58 shares during the period. Larson Financial Group LLC grew its position in shares of Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after buying an additional 33 shares during the last quarter. Mather Group LLC. increased its stake in shares of Spotify Technology by 9,900.0% during the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after buying an additional 99 shares during the period. Finally, V Square Quantitative Management LLC bought a new position in shares of Spotify Technology during the third quarter valued at approximately $40,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

NYSE SPOT opened at $498.63 on Monday. The stock has a market capitalization of $99.25 billion, a price-to-earnings ratio of 135.50 and a beta of 1.61. Spotify Technology S.A. has a 1-year low of $185.37 and a 1-year high of $506.47. The business’s fifty day moving average price is $416.02 and its 200-day moving average price is $357.72.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SPOT shares. Canaccord Genuity Group lifted their price target on shares of Spotify Technology from $525.00 to $560.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Pivotal Research raised their price objective 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. TD Cowen upped their target price on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. Finally, Barclays raised their target price on Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $429.96.

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.