Kowal Investment Group LLC Purchases 368 Shares of Spotify Technology S.A. (NYSE:SPOT)

Kowal Investment Group LLC lifted its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 27.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,689 shares of the company’s stock after acquiring an additional 368 shares during the quarter. Kowal Investment Group LLC’s holdings in Spotify Technology were worth $622,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPOT. Clearbridge Investments LLC raised its position in shares of Spotify Technology by 0.6% in the 1st quarter. Clearbridge Investments LLC now owns 6,892 shares of the company’s stock worth $1,819,000 after acquiring an additional 38 shares in the last quarter. Cigna Investments Inc. New increased its position in Spotify Technology by 3.3% in the 2nd quarter. Cigna Investments Inc. New now owns 1,260 shares of the company’s stock valued at $395,000 after buying an additional 40 shares in the last quarter. Moody Lynn & Lieberson LLC raised its holdings in Spotify Technology by 0.6% during the second quarter. Moody Lynn & Lieberson LLC now owns 6,843 shares of the company’s stock worth $2,147,000 after buying an additional 40 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Spotify Technology by 86.0% during the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after buying an additional 43 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Spotify Technology by 4.6% during the second quarter. EverSource Wealth Advisors LLC now owns 981 shares of the company’s stock worth $337,000 after acquiring an additional 43 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

SPOT has been the subject of a number of analyst reports. Bank of America lifted their price target on Spotify Technology from $370.00 to $380.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Wolfe Research initiated coverage on Spotify Technology in a research report on Friday, July 12th. They issued an “outperform” rating and a $390.00 price target for the company. Guggenheim lifted their price objective on shares of Spotify Technology from $400.00 to $420.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. KeyCorp increased their target price on shares of Spotify Technology from $440.00 to $490.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, TD Cowen boosted their price target on shares of Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $360.86.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $371.67 on Thursday. The company’s fifty day moving average price is $351.22 and its 200-day moving average price is $321.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market capitalization of $70.69 billion, a price-to-earnings ratio of -554.73 and a beta of 1.58. Spotify Technology S.A. has a one year low of $145.76 and a one year high of $389.23.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.25. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.82 billion. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter last year, the business posted ($1.69) earnings per share. On average, equities research analysts anticipate that Spotify Technology S.A. will post 6.24 earnings per share for the current fiscal 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.