Hantz Financial Services Inc. Buys Shares of 3,479 Spotify Technology S.A. (NYSE:SPOT)

Hantz Financial Services Inc. purchased a new position in shares of Spotify Technology S.A. (NYSE:SPOT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,479 shares of the company’s stock, valued at approximately $1,556,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Horizon Advisors Inc. boosted its stake in 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 buying an additional 26 shares during the period. West Bancorporation Inc. boosted its position in shares of Spotify Technology by 3.4% during the 3rd quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock worth $305,000 after purchasing an additional 27 shares during the period. Avior Wealth Management LLC boosted its position in shares of Spotify Technology by 12.0% during the 3rd 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 period. Park National Corp OH raised its position in Spotify Technology by 4.1% in the fourth quarter. Park National Corp OH now owns 793 shares of the company’s stock valued at $355,000 after purchasing an additional 31 shares during the period. Finally, Washington Trust Advisors Inc. raised its position in Spotify Technology by 12.0% in the third quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock valued at $110,000 after purchasing an additional 32 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Price Performance

Shares of SPOT opened at $549.02 on Friday. Spotify Technology S.A. has a 1-year low of $213.31 and a 1-year high of $560.36. The stock has a market cap of $109.28 billion, a PE ratio of 149.19 and a beta of 1.62. The firm has a fifty day moving average price of $479.23 and a 200 day moving average price of $402.03.

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). The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 earnings per share. As a group, equities analysts expect that Spotify Technology S.A. will post 5.91 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SPOT. UBS Group lifted their price objective on Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Wells Fargo & Company lifted their target price on Spotify Technology from $470.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. TD Cowen increased their price target on shares of Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. Macquarie lifted their price objective on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Benchmark reiterated a “buy” rating and set a $520.00 target price on shares of Spotify Technology in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average 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.