Accurate Wealth Management LLC Has $681,000 Holdings in Spotify Technology S.A. (NYSE:SPOT)

Accurate Wealth Management LLC raised its position in Spotify Technology S.A. (NYSE:SPOT) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,829 shares of the company’s stock after purchasing an additional 82 shares during the quarter. Accurate Wealth Management LLC’s holdings in Spotify Technology were worth $681,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SPOT. Aaron Wealth Advisors LLC bought a new stake in shares of Spotify Technology in the third quarter worth $223,000. V Square Quantitative Management LLC acquired a new stake in Spotify Technology in the 3rd quarter valued at $40,000. Bleakley Financial Group LLC lifted its position in Spotify Technology by 14.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 2,115 shares of the company’s stock worth $779,000 after buying an additional 261 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Spotify Technology by 5.7% during the 3rd quarter. Global Retirement Partners LLC now owns 3,940 shares of the company’s stock worth $1,452,000 after buying an additional 214 shares during the last quarter. Finally, nVerses Capital LLC grew its holdings in shares of Spotify Technology by 17.4% in the 3rd quarter. nVerses Capital LLC now owns 2,700 shares of the company’s stock valued at $995,000 after acquiring an additional 400 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Up 3.3 %

SPOT opened at $378.88 on Friday. The stock has a fifty day moving average of $352.57 and a 200-day moving average of $323.08. The company has a market capitalization of $75.42 billion, a P/E ratio of 154.64 and a beta of 1.58. Spotify Technology S.A. has a fifty-two week low of $145.76 and a fifty-two week high of $389.23. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.25. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.82 billion. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. Spotify Technology’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period last year, the firm earned ($1.69) earnings per share. On average, equities analysts expect that Spotify Technology S.A. will post 6.24 EPS for the current year.

Analysts Set New Price Targets

SPOT has been the topic of several analyst reports. The Goldman Sachs Group upgraded Spotify Technology from a “neutral” rating to a “buy” rating and upped their target price for the stock from $320.00 to $425.00 in a report on Wednesday, July 24th. KeyCorp increased their price objective on Spotify Technology from $440.00 to $490.00 and gave the company an “overweight” rating in a report on Wednesday. Jefferies Financial Group restated a “buy” rating and set a $385.00 target price (up from $242.00) on shares of Spotify Technology in a report on Thursday, July 11th. Wolfe Research initiated coverage on shares of Spotify Technology in a research report on Friday, July 12th. They set an “outperform” rating and a $390.00 price target on the stock. Finally, DZ Bank raised shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price objective for the company in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $362.21.

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.