Mirae Asset Global Investments Co. Ltd. Has $30.53 Million Stake in Spotify Technology S.A. (NYSE:SPOT)

Mirae Asset Global Investments Co. Ltd. grew its stake in Spotify Technology S.A. (NYSE:SPOT) by 44,073.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,585 shares of the company’s stock after purchasing an additional 67,432 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Spotify Technology were worth $30,534,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. WT Asset Management Ltd bought a new stake in Spotify Technology during the 4th quarter worth $14,987,000. Y.D. More Investments Ltd boosted its stake in shares of Spotify Technology by 6.7% during the fourth quarter. Y.D. More Investments Ltd now owns 13,305 shares of the company’s stock valued at $5,952,000 after purchasing an additional 835 shares in the last quarter. Stratos Wealth Advisors LLC grew its holdings in shares of Spotify Technology by 8.0% during the fourth quarter. Stratos Wealth Advisors LLC now owns 1,736 shares of the company’s stock worth $777,000 after purchasing an additional 128 shares during the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of Spotify Technology by 39.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 1,248 shares of the company’s stock valued at $558,000 after buying an additional 356 shares during the period. Finally, Yousif Capital Management LLC raised its holdings in Spotify Technology by 46.4% in the 4th quarter. Yousif Capital Management LLC now owns 6,858 shares of the company’s stock valued at $3,068,000 after buying an additional 2,174 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

SPOT has been the subject of several recent research reports. Benchmark upped their price target on shares of Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Wednesday. KeyCorp increased their price objective on Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Rosenblatt Securities reaffirmed a “neutral” rating and set a $658.00 target price (up from $473.00) on shares of Spotify Technology in a report on Wednesday. Piper Sandler increased their price target on Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Finally, Phillip Securities reaffirmed an “accumulate” rating and issued a $485.00 price objective (up from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $509.61.

Spotify Technology Stock Up 0.5 %

Shares of NYSE:SPOT opened at $625.04 on Thursday. Spotify Technology S.A. has a twelve month low of $227.52 and a twelve month high of $630.77. The stock’s 50 day moving average is $485.02 and its 200-day moving average is $409.38. The firm has a market capitalization of $124.41 billion, a price-to-earnings ratio of 169.85 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 for the quarter, missing the consensus estimate of $1.75 by ($0.30). The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The business’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 EPS. Equities research analysts anticipate that Spotify Technology S.A. will post 5.91 earnings per share for the current fiscal 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.