One Wealth Advisors LLC Buys 147 Shares of Spotify Technology S.A. (NYSE:SPOT)

One Wealth Advisors LLC boosted its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 18.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 940 shares of the company’s stock after acquiring an additional 147 shares during the quarter. One Wealth Advisors LLC’s holdings in Spotify Technology were worth $421,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPOT. Prestige Wealth Management Group LLC bought a new stake in Spotify Technology during the 3rd quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new position in Spotify Technology in the third quarter valued at about $33,000. Larson Financial Group LLC boosted its holdings in Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after buying an additional 33 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Spotify Technology during the 3rd quarter worth about $40,000. Finally, Rakuten Securities Inc. increased its stake in shares of Spotify Technology by 40.5% in the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after acquiring an additional 32 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Price Performance

SPOT stock opened at $549.02 on Monday. Spotify Technology S.A. has a 1 year low of $213.31 and a 1 year high of $560.36. The stock has a market cap of $109.28 billion, a price-to-earnings ratio of 149.19 and a beta of 1.62. The company has a 50 day simple moving average of $480.71 and a 200 day simple moving average of $405.25.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same period in the prior year, the firm earned $0.36 earnings per share. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, equities research analysts anticipate that Spotify Technology S.A. will post 5.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SPOT has been the subject of several recent analyst reports. Morgan Stanley upped their target price on shares of Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Wolfe Research reiterated a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. Cantor Fitzgerald restated a “neutral” rating and issued a $480.00 price target (down from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. Phillip Securities reiterated an “accumulate” rating and set a $485.00 price objective (up previously from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. Finally, TD Cowen raised their target price on shares of Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus target price of $451.39.

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.