Y.D. More Investments Ltd Increases Holdings in Spotify Technology S.A. (NYSE:SPOT)

Y.D. More Investments Ltd increased its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 6.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 13,305 shares of the company’s stock after purchasing an additional 835 shares during the period. Y.D. More Investments Ltd’s holdings in Spotify Technology were worth $5,952,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Prestige Wealth Management Group LLC bought a new position in shares of Spotify Technology in the third quarter worth $26,000. Hobbs Group Advisors LLC purchased a new position in Spotify Technology during the third quarter worth about $33,000. Larson Financial Group LLC increased its stake in Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after acquiring an additional 33 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Spotify Technology in the 3rd quarter valued at about $40,000. Finally, Rakuten Securities Inc. boosted its position in shares of Spotify Technology by 40.5% during the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after acquiring an additional 32 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

SPOT stock opened at $622.69 on Wednesday. Spotify Technology S.A. has a 1-year low of $219.36 and a 1-year high of $623.40. The business has a fifty day moving average price of $482.11 and a 200-day moving average price of $407.08. The stock has a market capitalization of $123.95 billion, a P/E ratio of 169.21 and a beta of 1.63.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share (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 19.07% and a net margin of 4.66%. 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 business posted $0.36 EPS. As a group, analysts anticipate that Spotify Technology S.A. will post 5.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SPOT shares. KeyCorp upped their price objective on shares of Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Pivotal Research lifted their price objective on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Benchmark reiterated a “buy” rating and issued a $520.00 target price on shares of Spotify Technology in a research report on Thursday, January 16th. Wolfe Research restated a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Finally, Bank of America upped their price objective on Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $451.39.

Spotify Technology Company 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.