Wedmont Private Capital Acquires 95 Shares of Spotify Technology S.A. (NYSE:SPOT)

Wedmont Private Capital grew its holdings in Spotify Technology S.A. (NYSE:SPOTFree Report) by 8.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,245 shares of the company’s stock after buying an additional 95 shares during the quarter. Wedmont Private Capital’s holdings in Spotify Technology were worth $572,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Prestige Wealth Management Group LLC purchased a new stake in Spotify Technology in the third quarter worth $26,000. Benjamin Edwards Inc. raised its holdings in Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in shares of Spotify Technology in the 3rd quarter worth about $33,000. Larson Financial Group LLC boosted its stake in shares of Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after purchasing an additional 33 shares in the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in shares of Spotify Technology during the third quarter valued at about $40,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Price Performance

Shares of SPOT opened at $463.15 on Wednesday. Spotify Technology S.A. has a one year low of $191.88 and a one year high of $506.47. The business has a fifty day moving average of $463.33 and a 200 day moving average of $386.77. The firm has a market capitalization of $92.19 billion, a P/E ratio of 125.86 and a beta of 1.62.

Spotify Technology (NYSE:SPOTGet Free Report) last released its quarterly 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). The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. Spotify Technology’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 EPS. Analysts expect that Spotify Technology S.A. will post 6.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Canaccord Genuity Group raised their price objective on shares of Spotify Technology from $525.00 to $560.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. The Goldman Sachs Group lifted their price target on Spotify Technology from $490.00 to $550.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Rosenblatt Securities increased their price objective on Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Morgan Stanley raised their price objective on Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, KeyCorp upped their target price on shares of Spotify Technology from $520.00 to $555.00 and gave the stock an “overweight” rating in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus price target of $433.36.

Read Our Latest Analysis on SPOT

About Spotify Technology

(Free Report)

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.

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

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