Spotify Technology S.A. (NYSE:SPOT) Shares Bought by Dakota Wealth Management

Dakota Wealth Management lifted its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 35.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,291 shares of the company’s stock after buying an additional 602 shares during the quarter. Dakota Wealth Management’s holdings in Spotify Technology were worth $1,025,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. grew its holdings in Spotify Technology by 5.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock worth $176,000 after acquiring an additional 26 shares in the last quarter. West Bancorporation Inc. lifted 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 last quarter. Avior Wealth Management LLC grew its stake in shares of Spotify Technology by 12.0% during the third quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock worth $104,000 after purchasing an additional 30 shares in the last quarter. Park National Corp OH increased its holdings 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 buying an additional 31 shares during the last quarter. Finally, Washington Trust Advisors Inc. raised its stake 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 buying an additional 32 shares in the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SPOT shares. Pivotal Research increased their price objective on Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Bank of America raised their price objective on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Rosenblatt Securities boosted their price objective on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Macquarie boosted their price target on shares of Spotify Technology from $395.00 to $500.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus price target of $441.21.

Spotify Technology Stock Up 1.9 %

Shares of NYSE SPOT opened at $511.19 on Friday. The stock has a market capitalization of $101.75 billion, a price-to-earnings ratio of 138.91 and a beta of 1.62. Spotify Technology S.A. has a 52 week low of $210.34 and a 52 week high of $512.01. The firm has a 50-day moving average price of $472.68 and a 200 day moving average price of $394.29.

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

About Spotify Technology

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.