Massachusetts Financial Services Co. MA Buys 102,786 Shares of Spotify Technology S.A. (NYSE:SPOT)

Massachusetts Financial Services Co. MA increased its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 3.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,492,170 shares of the company’s stock after purchasing an additional 102,786 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Spotify Technology were worth $1,286,969,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SPOT. Transcendent Capital Group LLC purchased a new position in Spotify Technology during the second quarter worth $25,000. Benjamin Edwards Inc. lifted its holdings in shares of 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 acquiring an additional 58 shares during the last quarter. Mather Group LLC. boosted its stake in shares of Spotify Technology by 9,900.0% during the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after purchasing an additional 99 shares during the period. Asset Dedication LLC bought a new position in Spotify Technology during the 2nd quarter valued at about $35,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Spotify Technology in the 2nd quarter worth about $39,000. Institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SPOT shares. Bank of America boosted their target price on Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $340.00 price objective on shares of Spotify Technology in a research report on Monday, October 7th. Evercore ISI lifted their target price on Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Macquarie upped their price target on shares of Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft lifted 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $421.69.

Spotify Technology Trading Up 1.4 %

NYSE SPOT opened at $470.24 on Thursday. The firm’s fifty day simple moving average is $386.17 and its two-hundred day simple moving average is $341.83. The firm has a market capitalization of $93.60 billion, a P/E ratio of 127.78 and a beta of 1.56. Spotify Technology S.A. has a 12-month low of $178.01 and a 12-month high of $489.69.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter last year, the firm earned $0.36 earnings per share. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. As a group, sell-side analysts predict that Spotify Technology S.A. will post 6.02 earnings per share for the current fiscal year.

About Spotify Technology

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.