Stonebridge Financial Group LLC Makes New $135,000 Investment in Spotify Technology S.A. (NYSE:SPOT)

Stonebridge Financial Group LLC bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 301 shares of the company’s stock, valued at approximately $135,000.

Other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC bought a new position in shares of Spotify Technology in the fourth quarter valued at approximately $1,335,575,000. Forsta AP Fonden purchased a new stake in Spotify Technology in the 4th quarter worth approximately $619,600,000. WCM Investment Management LLC boosted its holdings in Spotify Technology by 18.5% in the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after purchasing an additional 605,755 shares during the period. International Assets Investment Management LLC grew its position in shares of Spotify Technology by 36,910.0% during the 3rd quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock valued at $128,073,000 after purchasing an additional 346,585 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after purchasing an additional 297,035 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analyst Ratings Changes

SPOT has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. lifted their price target on Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. The Goldman Sachs Group upped their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, UBS Group boosted their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $514.79.

Spotify Technology Trading Up 2.9 %

NYSE:SPOT opened at $640.93 on Thursday. Spotify Technology S.A. has a 12 month low of $228.07 and a 12 month high of $648.27. The company has a 50-day moving average price of $499.71 and a 200-day moving average price of $420.10. The stock has a market cap of $127.58 billion, a price-to-earnings ratio of 107.72 and a beta of 1.63.

Spotify Technology (NYSE:SPOT) last released 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). The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.03 billion. Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Equities analysts forecast that Spotify Technology S.A. will post 9.69 EPS for the current fiscal year.

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.