Spotify Technology S.A. (NYSE:SPOT) Position Boosted by Natixis Advisors LLC

Natixis Advisors LLC raised its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 11.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,246 shares of the company’s stock after acquiring an additional 9,892 shares during the quarter. Natixis Advisors LLC’s holdings in Spotify Technology were worth $34,732,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Transcendent Capital Group LLC purchased a new position in Spotify Technology during the 2nd quarter valued at about $25,000. Benjamin Edwards Inc. grew its stake in Spotify Technology by 214.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Mather Group LLC. grew its stake in Spotify Technology by 9,900.0% during the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after acquiring an additional 99 shares in the last quarter. Asset Dedication LLC acquired a new stake in shares of Spotify Technology during the 2nd quarter valued at about $35,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Spotify Technology during the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

SPOT has been the subject of several research reports. Evercore ISI lifted their price target on Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft lifted their price target on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Wells Fargo & Company lifted their price target on Spotify Technology from $470.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Bank of America lifted their price target on Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lifted their price target on Spotify Technology from $425.00 to $530.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, Spotify Technology has a consensus rating of “Moderate Buy” and an average price target of $421.69.

Spotify Technology Trading Down 4.0 %

SPOT opened at $458.32 on Monday. The stock has a market cap of $91.23 billion, a PE ratio of 124.54 and a beta of 1.56. Spotify Technology S.A. has a 1 year low of $170.62 and a 1 year high of $489.69. The stock’s 50 day simple moving average is $378.15 and its 200-day simple moving average is $338.61.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data 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). The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 earnings per share. Equities analysts forecast that Spotify Technology S.A. will post 6.09 earnings per share for the current fiscal year.

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.