1,945 Shares in Spotify Technology S.A. (NYSE:SPOT) Acquired by Highland Capital Management LLC

Highland Capital Management LLC bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,945 shares of the company’s stock, valued at approximately $870,000.

Other institutional investors and hedge funds have also modified their holdings of the company. First Horizon Advisors Inc. boosted its position in shares of Spotify Technology by 5.8% during the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock valued at $176,000 after buying an additional 26 shares during the last quarter. West Bancorporation Inc. boosted its holdings in shares of Spotify Technology by 3.4% during the 3rd quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock valued at $305,000 after acquiring an additional 27 shares during the last quarter. Avior Wealth Management LLC grew its stake in shares of Spotify Technology by 12.0% in the third quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock worth $104,000 after acquiring an additional 30 shares during the period. Park National Corp OH raised its holdings in shares of Spotify Technology by 4.1% during the fourth quarter. Park National Corp OH now owns 793 shares of the company’s stock valued at $355,000 after purchasing an additional 31 shares during the last quarter. Finally, Washington Trust Advisors Inc. raised its holdings in shares of Spotify Technology by 12.0% during the third quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock valued at $110,000 after purchasing an additional 32 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

SPOT has been the subject of a number of research analyst reports. Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $480.00 price objective (down previously from $490.00) on shares of Spotify Technology in a report on Tuesday. The Goldman Sachs Group increased their target price on Spotify Technology from $490.00 to $550.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price target on Spotify Technology from $425.00 to $530.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Pivotal Research increased their price objective on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research note 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $449.79.

Spotify Technology Trading Up 2.2 %

NYSE:SPOT opened at $550.45 on Friday. The company has a market capitalization of $109.57 billion, a P/E ratio of 149.58 and a beta of 1.62. The business’s 50-day moving average is $477.67 and its 200 day moving average is $400.99. Spotify Technology S.A. has a 12 month low of $213.31 and a 12 month high of $558.31.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The business 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 business earned $0.36 earnings per share. The business’s quarterly revenue was up 18.8% on a year-over-year basis. On average, research analysts forecast that Spotify Technology S.A. will post 5.91 earnings per share for the current year.

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.