Spotify Technology S.A. (NYSE:SPOT) Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its holdings in shares of Spotify Technology S.A. (NYSE:SPOTGet Rating) by 81.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,866 shares of the company’s stock after buying an additional 1,738 shares during the period. Janney Montgomery Scott LLC’s holdings in Spotify Technology were worth $334,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Arlington Partners LLC raised its stake in shares of Spotify Technology by 1,394.7% during the second quarter. Arlington Partners LLC now owns 284 shares of the company’s stock worth $27,000 after purchasing an additional 265 shares during the last quarter. CoreCap Advisors LLC acquired a new stake in shares of Spotify Technology in the 2nd quarter worth $29,000. Desjardins Global Asset Management Inc. purchased a new stake in shares of Spotify Technology in the second quarter valued at about $34,000. Twin Lakes Capital Management LLC purchased a new stake in shares of Spotify Technology in the third quarter valued at about $34,000. Finally, First Manhattan Co. raised its holdings in Spotify Technology by 65.8% during the first quarter. First Manhattan Co. now owns 252 shares of the company’s stock worth $38,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 52.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SPOT. Pivotal Research cut their target price on Spotify Technology from $105.00 to $100.00 in a research note on Wednesday, October 26th. Jefferies Financial Group cut shares of Spotify Technology from a “buy” rating to a “hold” rating and lowered their price target for the stock from $115.00 to $95.00 in a research note on Thursday, January 12th. Evercore ISI reduced their price objective on shares of Spotify Technology from $230.00 to $175.00 in a research note on Wednesday, October 26th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Spotify Technology from $115.00 to $105.00 and set a “hold” rating on the stock in a research report on Monday, October 24th. Finally, Canaccord Genuity Group reduced their price target on shares of Spotify Technology from $175.00 to $150.00 in a research report on Monday, October 24th. Thirteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $142.44.

Spotify Technology Price Performance

Spotify Technology stock opened at $99.29 on Wednesday. The stock’s 50-day moving average is $81.68 and its 200-day moving average is $92.96. The company has a market cap of $19.08 billion, a price-to-earnings ratio of -52.26 and a beta of 1.66. Spotify Technology S.A. has a 12 month low of $69.29 and a 12 month high of $208.49.

Spotify Technology (NYSE:SPOTGet Rating) last posted its earnings results on Tuesday, October 25th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.11). Spotify Technology had a negative net margin of 1.62% and a negative return on equity of 8.21%. The business had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.03 billion. Research analysts anticipate that Spotify Technology S.A. will post -2.64 EPS for the current year.

About Spotify Technology

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Spotify Technology SA, together with its subsidiaries, provides audio streaming services worldwide. It operates through Premium and Ad-Supported segments. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.

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Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

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