Comprehensive Financial Planning Inc. PA Takes Position in Spotify Technology S.A. (NYSE:SPOT)

Comprehensive Financial Planning Inc. PA purchased a new position in Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, HoldingsChannel reports. The fund purchased 348 shares of the company’s stock, valued at approximately $156,000.

Other hedge funds have also recently bought and sold shares of the company. Aigen Investment Management LP grew its holdings in Spotify Technology by 42.4% in the third quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock valued at $3,612,000 after purchasing an additional 2,918 shares during the last quarter. Jennison Associates LLC acquired a new stake in Spotify Technology in the 4th quarter valued at about $1,335,575,000. Patriot Financial Group Insurance Agency LLC purchased a new position in Spotify Technology during the 4th quarter valued at about $214,000. Pathway Capital Management LP increased its holdings in Spotify Technology by 23.8% during the 3rd quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock valued at $21,132,000 after acquiring an additional 11,042 shares in the last quarter. Finally, Covenant Asset Management LLC acquired a new position in Spotify Technology during the third quarter worth about $3,364,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Spotify Technology from $555.00 to $730.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Pivotal Research raised their price target on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Rosenblatt Securities restated 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. TD Cowen lifted their price objective on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $480.00 target price (down from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $514.79.

Spotify Technology Stock Performance

SPOT opened at $623.54 on Monday. Spotify Technology S.A. has a 1 year low of $228.07 and a 1 year high of $632.45. The firm has a 50 day moving average price of $493.96 and a 200 day moving average price of $415.25. The company has a market cap of $124.12 billion, a PE ratio of 104.80 and a beta of 1.63.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.30). The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. Spotify Technology’s revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 EPS. On average, sell-side analysts predict that Spotify Technology S.A. will post 9.69 earnings per share for the current 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.