Verde Capital Management Boosts Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Verde Capital Management lifted its position in Spotify Technology S.A. (NYSE:SPOT) by 9.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,274 shares of the company’s stock after purchasing an additional 709 shares during the quarter. Spotify Technology comprises 1.0% of Verde Capital Management’s holdings, making the stock its 19th largest position. Verde Capital Management’s holdings in Spotify Technology were worth $3,702,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SPOT. First Horizon Advisors Inc. lifted its position 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 in the last quarter. West Bancorporation Inc. increased its stake in shares of Spotify Technology by 3.4% in the 3rd quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock worth $305,000 after acquiring an additional 27 shares during the last quarter. Avior Wealth Management LLC raised its holdings 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 acquiring an additional 30 shares during the period. Park National Corp OH boosted its position in shares of Spotify Technology by 4.1% during the 4th quarter. Park National Corp OH now owns 793 shares of the company’s stock valued at $355,000 after acquiring an additional 31 shares during the last quarter. Finally, Washington Trust Advisors Inc. grew its holdings in shares of 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. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Up 1.5 %

Shares of SPOT stock opened at $500.85 on Friday. The company has a market capitalization of $99.69 billion, a price-to-earnings ratio of 136.10 and a beta of 1.62. Spotify Technology S.A. has a twelve month low of $209.18 and a twelve month high of $510.84. The firm has a 50-day moving average price of $472.22 and a 200 day moving average price of $393.55.

Spotify Technology (NYSE:SPOT) last issued its quarterly 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). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same quarter last year, the firm posted $0.36 earnings per share. The company’s revenue was up 18.8% on a year-over-year basis. As a group, research analysts predict that Spotify Technology S.A. will post 5.91 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on SPOT shares. Deutsche Bank Aktiengesellschaft boosted their target price 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. Morgan Stanley lifted their price target on shares of Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Bank of America raised their target price on Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Pivotal Research boosted their price objective on shares of Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $441.21.

Spotify Technology 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.