Carnegie Investment Counsel Purchases 250 Shares of Spotify Technology S.A. (NYSE:SPOT)

Carnegie Investment Counsel lifted its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 34.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 980 shares of the company’s stock after purchasing an additional 250 shares during the period. Carnegie Investment Counsel’s holdings in Spotify Technology were worth $361,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in SPOT. Larson Financial Group LLC increased its stake in Spotify Technology by 86.0% during the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after acquiring an additional 43 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of Spotify Technology in the 2nd quarter valued at $25,000. Benjamin Edwards Inc. boosted its holdings in shares of Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Mather Group LLC. boosted its holdings in shares of Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after purchasing an additional 99 shares in the last quarter. Finally, FinTrust Capital Advisors LLC boosted its holdings in shares of Spotify Technology by 400.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of SPOT opened at $372.44 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. Spotify Technology S.A. has a one year low of $145.76 and a one year high of $389.23. The company has a 50-day simple moving average of $349.34 and a two-hundred day simple moving average of $320.50. The firm has a market capitalization of $74.13 billion, a PE ratio of 152.02 and a beta of 1.58.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.25. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same period in the previous year, the business earned ($1.69) EPS. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, analysts anticipate that Spotify Technology S.A. will post 6.24 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SPOT shares. Pivotal Research raised their price objective on Spotify Technology from $460.00 to $510.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Barclays raised their price objective on Spotify Technology from $350.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. The Goldman Sachs Group raised Spotify Technology from a “neutral” rating to a “buy” rating and raised their price objective for the company from $320.00 to $425.00 in a report on Wednesday, July 24th. Rosenblatt Securities raised their price objective on Spotify Technology from $396.00 to $399.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Benchmark reissued a “buy” rating and set a $405.00 price objective on shares of Spotify Technology in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Spotify Technology presently has an average rating of “Moderate Buy” and a consensus price target of $359.14.

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.