Spotify Technology S.A. (NYSE:SPOT) Stock Position Raised by Atomi Financial Group Inc.

Atomi Financial Group Inc. boosted its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 13.0% during the 4th quarter, HoldingsChannel reports. The firm owned 1,775 shares of the company’s stock after buying an additional 204 shares during the quarter. Atomi Financial Group Inc.’s holdings in Spotify Technology were worth $794,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Ballentine Partners LLC boosted its position in Spotify Technology by 45.5% during the 4th quarter. Ballentine Partners LLC now owns 944 shares of the company’s stock worth $422,000 after acquiring an additional 295 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Spotify Technology by 1,121.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 574 shares of the company’s stock worth $257,000 after purchasing an additional 527 shares during the period. Diversify Advisory Services LLC purchased a new position in Spotify Technology during the fourth quarter valued at approximately $391,000. LVW Advisors LLC acquired a new position in Spotify Technology in the 4th quarter valued at approximately $292,000. Finally, Oak Ridge Investments LLC acquired a new stake in shares of Spotify Technology during the 4th quarter valued at $5,248,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Stock Up 1.2 %

Spotify Technology stock opened at $493.52 on Thursday. The business has a 50 day moving average price of $471.69 and a two-hundred day moving average price of $392.84. Spotify Technology S.A. has a 12 month low of $204.57 and a 12 month high of $510.84. The stock has a market cap of $98.24 billion, a price-to-earnings ratio of 134.11 and a beta of 1.62.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, November 12th. The company reported $1.45 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 quarter in the previous year, the company posted $0.36 earnings per share. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, analysts expect that Spotify Technology S.A. will post 5.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SPOT. JPMorgan Chase & Co. upped their price target on shares of Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Rosenblatt Securities lifted 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. UBS Group increased their price objective on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. The Goldman Sachs Group boosted their target price on shares of Spotify Technology from $490.00 to $550.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $441.21.

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.