Spotify Technology S.A. (NYSE:SPOT) Shares Purchased by Hanseatic Management Services Inc.

Hanseatic Management Services Inc. raised its holdings in Spotify Technology S.A. (NYSE:SPOT) by 11.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 432 shares of the company’s stock after purchasing an additional 46 shares during the period. Hanseatic Management Services Inc.’s holdings in Spotify Technology were worth $193,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Prestige Wealth Management Group LLC acquired a new position in Spotify Technology in the third quarter worth about $26,000. Benjamin Edwards Inc. lifted its holdings in Spotify Technology by 214.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after buying an additional 58 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Spotify Technology in the 3rd quarter worth approximately $33,000. Larson Financial Group LLC increased its holdings in shares of Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after acquiring an additional 33 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Spotify Technology during the 3rd quarter valued at approximately $40,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on SPOT. Canaccord Genuity Group lifted their price objective on shares of Spotify Technology from $525.00 to $560.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. The Goldman Sachs Group lifted their price target on shares of Spotify Technology from $490.00 to $550.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Bank of America increased their price objective on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. 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, TD Cowen increased their price target on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $441.21.

Spotify Technology Stock Down 0.9 %

Shares of SPOT stock opened at $486.07 on Friday. The stock has a 50-day simple moving average of $468.82 and a 200 day simple moving average of $389.39. Spotify Technology S.A. has a fifty-two week low of $200.81 and a fifty-two week high of $506.47. The stock has a market capitalization of $96.75 billion, a P/E ratio of 132.08 and a beta of 1.62.

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 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 during the quarter, compared to analyst estimates of $4.03 billion. During the same period in the prior year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, sell-side analysts anticipate that Spotify Technology S.A. will post 5.96 earnings per share for the current year.

Spotify Technology Company 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.