154 Shares in Spotify Technology S.A. (NYSE:SPOT) Bought by Golden State Wealth Management LLC

Golden State Wealth Management LLC acquired a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 154 shares of the company’s stock, valued at approximately $69,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SPOT. WCM Investment Management LLC lifted its holdings in shares of 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 acquiring an additional 605,755 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Spotify Technology by 3.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock worth $1,286,969,000 after acquiring an additional 102,786 shares during the last quarter. Jennison Associates LLC purchased a new stake in Spotify Technology during the fourth quarter valued at approximately $1,335,575,000. State Street Corp lifted its stake in shares of Spotify Technology by 1.5% in the 3rd quarter. State Street Corp now owns 1,997,323 shares of the company’s stock valued at $736,073,000 after purchasing an additional 28,864 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of 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 during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Bank of America raised their price target on Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Macquarie raised their target price on shares of Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. TD Cowen upped their price target on shares of Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a report on Wednesday, November 13th. Rosenblatt Securities reissued a “neutral” rating and issued a $658.00 price objective (up from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company boosted their target price on Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $514.79.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $637.88 on Tuesday. The business has a fifty day moving average price of $493.96 and a 200 day moving average price of $415.80. Spotify Technology S.A. has a 1-year low of $228.07 and a 1-year high of $642.27. The stock has a market capitalization of $126.97 billion, a P/E ratio of 107.21 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 analysts’ consensus estimates of $1.75 by ($0.30). The firm had revenue of $3.99 billion during 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 firm’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.36 earnings per share. As a group, equities research analysts anticipate that Spotify Technology S.A. will post 9.69 earnings per share 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.