Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. increased its stake in Spotify Technology S.A. (NYSE:SPOT) by 33.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 281,528 shares of the company’s stock after purchasing an additional 70,727 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Spotify Technology were worth $125,950,000 at the end of the most recent quarter.

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

Spotify Technology Price Performance

NYSE SPOT opened at $531.64 on Wednesday. Spotify Technology S.A. has a fifty-two week low of $213.31 and a fifty-two week high of $537.00. The stock’s 50-day moving average is $476.28 and its two-hundred day moving average is $400.01. The firm has a market cap of $105.82 billion, a P/E ratio of 144.47 and a beta of 1.62.

Spotify Technology (NYSE:SPOT) last posted its 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 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 the consensus estimate of $4.03 billion. During the same quarter last year, the business earned $0.36 earnings per share. Spotify Technology’s quarterly revenue was up 18.8% on a year-over-year basis. On average, equities analysts expect that Spotify Technology S.A. will post 5.91 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on SPOT. Piper Sandler boosted their price target on shares of Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Bank of America boosted their price objective on Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Pivotal Research boosted their price objective on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Morgan Stanley boosted their price objective on Spotify Technology from $430.00 to $460.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $446.21.

Spotify Technology 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.