Accretive Wealth Partners LLC Has $1.92 Million Position in Spotify Technology S.A. (NYSE:SPOT)

Accretive Wealth Partners LLC lessened its position in Spotify Technology S.A. (NYSE:SPOT) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,296 shares of the company’s stock after selling 62 shares during the period. Accretive Wealth Partners LLC’s holdings in Spotify Technology were worth $1,922,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. WCM Investment Management LLC increased 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 worth $1,430,142,000 after purchasing an additional 605,755 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Spotify Technology by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock worth $1,286,969,000 after purchasing an additional 102,786 shares in the last quarter. Jennison Associates LLC acquired a new position in Spotify Technology in the 4th quarter worth about $1,335,575,000. State Street Corp increased its holdings in Spotify Technology by 1.5% in the 3rd quarter. State Street Corp now owns 1,997,323 shares of the company’s stock worth $736,073,000 after purchasing an additional 28,864 shares in the last quarter. Finally, FMR LLC increased its holdings in Spotify Technology by 23.4% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Down 1.6 %

Shares of Spotify Technology stock opened at $637.75 on Friday. The company has a market cap of $126.94 billion, a PE ratio of 107.18 and a beta of 1.63. Spotify Technology S.A. has a 52 week low of $239.66 and a 52 week high of $652.63. The business has a 50 day moving average price of $505.57 and a 200-day moving average price of $423.21.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.30). The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. As a group, research analysts anticipate that Spotify Technology S.A. will post 9.69 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SPOT shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $480.00 price target (down previously from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. Bank of America upped their price target on Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Piper Sandler upped their price target on Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. upped 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. Finally, Canaccord Genuity Group upped their price target on Spotify Technology from $650.00 to $700.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $529.43.

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.