Hantz Financial Services Inc. Takes $1.56 Million Position in Spotify Technology S.A. (NYSE:SPOT)

Hantz Financial Services Inc. purchased a new position 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 & Exchange Commission. The firm purchased 3,479 shares of the company’s stock, valued at approximately $1,556,000.

Several other institutional investors have also recently added to or reduced their stakes in SPOT. Aigen Investment Management LP increased its holdings in shares of Spotify Technology by 42.4% in the third quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock valued at $3,612,000 after purchasing an additional 2,918 shares during the period. Patriot Financial Group Insurance Agency LLC purchased a new position in Spotify Technology in the 4th quarter valued at $214,000. Pathway Capital Management LP increased its stake in Spotify Technology by 23.8% in the 3rd quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock valued at $21,132,000 after buying an additional 11,042 shares during the period. Perpetual Ltd raised its position in Spotify Technology by 24.3% during the 3rd quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock worth $279,965,000 after buying an additional 148,431 shares during the last quarter. Finally, Covenant Asset Management LLC acquired a new stake in shares of Spotify Technology in the 3rd quarter worth $3,364,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SPOT shares. Bank of America boosted their price target on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald reissued a “neutral” rating and set a $480.00 target price (down from $490.00) on shares of Spotify Technology in a research note on Tuesday. Piper Sandler lifted their price target on Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Benchmark reiterated a “buy” rating and issued a $520.00 price objective on shares of Spotify Technology in a research report on Thursday, January 16th. Finally, Canaccord Genuity Group raised their target price on Spotify Technology from $525.00 to $560.00 and gave the company a “buy” rating in a report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $451.39.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $549.02 on Friday. The company has a 50-day simple moving average of $479.23 and a 200-day simple moving average of $402.03. The company has a market cap of $109.28 billion, a PE ratio of 149.19 and a beta of 1.62. Spotify Technology S.A. has a 12 month low of $213.31 and a 12 month high of $560.36.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm’s revenue was up 18.8% on a year-over-year basis. On average, analysts anticipate that Spotify Technology S.A. will post 5.91 EPS for the current 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.