GDS Wealth Management Buys 3,070 Shares of Spotify Technology S.A. (NYSE:SPOT)

GDS Wealth Management raised its stake in Spotify Technology S.A. (NYSE:SPOT) by 227.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,420 shares of the company’s stock after acquiring an additional 3,070 shares during the quarter. GDS Wealth Management’s holdings in Spotify Technology were worth $1,977,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SPOT. First Horizon Advisors Inc. grew its holdings in shares of Spotify Technology by 5.8% during the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock worth $176,000 after purchasing an additional 26 shares during the last quarter. West Bancorporation Inc. grew its holdings in shares of Spotify Technology by 3.4% during the third quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock worth $305,000 after purchasing an additional 27 shares during the last quarter. Avior Wealth Management LLC grew its holdings in shares of Spotify Technology by 12.0% during the third quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock worth $104,000 after purchasing an additional 30 shares during the last quarter. Park National Corp OH grew its holdings in shares of Spotify Technology by 4.1% during the fourth quarter. Park National Corp OH now owns 793 shares of the company’s stock worth $355,000 after purchasing an additional 31 shares during the last quarter. Finally, Washington Trust Advisors Inc. grew its holdings in shares of Spotify Technology by 12.0% during the third quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock worth $110,000 after purchasing an additional 32 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $549.45 on Tuesday. The business’s 50 day simple moving average is $480.71 and its 200 day simple moving average is $405.25. Spotify Technology S.A. has a 52-week low of $219.36 and a 52-week high of $560.36. The firm has a market cap of $109.37 billion, a PE ratio of 149.31 and a beta of 1.63.

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 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 during the quarter, compared to analyst estimates of $4.03 billion. During the same period in the prior year, the business posted $0.36 EPS. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. As a group, equities research analysts predict that Spotify Technology S.A. will post 5.91 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. UBS Group increased their target price on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. KeyCorp raised their price target on Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a report on Friday. Rosenblatt Securities raised their price target on Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a report on Thursday, October 17th. The Goldman Sachs Group raised their price target on Spotify Technology from $490.00 to $550.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Canaccord Genuity Group raised their price target on Spotify Technology from $525.00 to $560.00 and gave the company a “buy” rating in a report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and an average target price of $451.39.

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.