Great Valley Advisor Group Inc. Buys 87 Shares of Spotify Technology S.A. (NYSE:SPOT)

Great Valley Advisor Group Inc. grew its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 4.3% in the 3rd quarter, Holdings Channel reports. The firm owned 2,125 shares of the company’s stock after acquiring an additional 87 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Spotify Technology were worth $783,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SPOT. Swedbank AB bought a new position in Spotify Technology during the first quarter worth $198,663,000. WCM Investment Management LLC raised its position in shares of Spotify Technology by 18.5% in the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after acquiring an additional 605,755 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Spotify Technology by 36,910.0% in the 3rd quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock valued at $128,073,000 after purchasing an additional 346,585 shares during the period. Sei Investments Co. boosted its position in shares of Spotify Technology by 106.8% during the 2nd quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock valued at $202,828,000 after purchasing an additional 333,782 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Spotify Technology by 179.0% during the third quarter. Assenagon Asset Management S.A. now owns 380,214 shares of the company’s stock worth $140,120,000 after purchasing an additional 243,933 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Performance

NYSE SPOT opened at $479.85 on Tuesday. The company has a market capitalization of $95.51 billion, a PE ratio of 130.39 and a beta of 1.56. Spotify Technology S.A. has a 52-week low of $179.66 and a 52-week high of $489.69. The company has a 50-day simple moving average of $394.43 and a 200 day simple moving average of $345.87.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results 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 company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same period last year, the firm posted $0.36 EPS. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. As a group, analysts forecast that Spotify Technology S.A. will post 6.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of research analyst reports. Barclays increased their price target on Spotify Technology from $385.00 to $475.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. The Goldman Sachs Group raised their price target on shares of Spotify Technology from $430.00 to $490.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Cantor Fitzgerald restated a “neutral” rating and issued a $340.00 target price on shares of Spotify Technology in a research note on Monday, October 7th. Finally, Pivotal Research upped their price target on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $421.69.

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.