Accurate Wealth Management LLC Has $435,000 Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Accurate Wealth Management LLC reduced its position in Spotify Technology S.A. (NYSE:SPOT) by 48.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 946 shares of the company’s stock after selling 883 shares during the period. Accurate Wealth Management LLC’s holdings in Spotify Technology were worth $435,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SPOT. Mesirow Financial Investment Management Inc. bought a new position in shares of Spotify Technology in the 2nd quarter worth $310,000. SYSTM Wealth Solutions LLC bought a new position in shares of Spotify Technology in the 2nd quarter worth $104,000. Mercer Global Advisors Inc. ADV boosted its position in shares of Spotify Technology by 20.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 2,600 shares of the company’s stock worth $816,000 after purchasing an additional 435 shares during the last quarter. Amalgamated Bank boosted its position in shares of Spotify Technology by 5.9% in the 2nd quarter. Amalgamated Bank now owns 9,812 shares of the company’s stock worth $3,079,000 after purchasing an additional 548 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of Spotify Technology by 11.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,728 shares of the company’s stock worth $3,642,000 after purchasing an additional 1,212 shares during the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Piper Sandler raised their price target on Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. UBS Group raised their price target on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research report on Wednesday. The Goldman Sachs Group raised their price target on Spotify Technology from $490.00 to $550.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Wells Fargo & Company lifted their target price on Spotify Technology from $470.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Barclays lifted their target price on Spotify Technology from $385.00 to $475.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $438.36.

Spotify Technology Stock Performance

NYSE:SPOT opened at $489.56 on Thursday. The stock’s 50-day simple moving average is $463.33 and its 200 day simple moving average is $386.77. The company has a market cap of $97.45 billion, a P/E ratio of 133.03 and a beta of 1.62. Spotify Technology S.A. has a 52-week low of $191.88 and a 52-week high of $506.47.

Spotify Technology (NYSE:SPOT) last released 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). The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. Spotify Technology’s revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.36 EPS. As a group, equities analysts predict that Spotify Technology S.A. will post 6.02 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.