TFB Advisors LLC Acquires 59 Shares of Spotify Technology S.A. (NYSE:SPOT)

TFB Advisors LLC grew its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 3.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,559 shares of the company’s stock after purchasing an additional 59 shares during the period. TFB Advisors LLC’s holdings in Spotify Technology were worth $697,000 as of its most recent filing with the SEC.

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

Spotify Technology Stock Performance

SPOT stock opened at $623.06 on Wednesday. The company has a market capitalization of $124.02 billion, a PE ratio of 104.72 and a beta of 1.63. The company’s fifty day moving average price is $497.11 and its 200-day moving average price is $417.98. Spotify Technology S.A. has a one year low of $228.07 and a one year high of $642.27.

Spotify Technology (NYSE:SPOT) last released its quarterly 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 net margin of 7.26% and a return on equity of 25.56%. The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the prior year, the business earned $0.36 EPS. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. On average, research analysts predict that Spotify Technology S.A. will post 9.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SPOT shares. KeyCorp upped their price objective on shares of Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Cantor Fitzgerald reissued a “neutral” rating and set a $480.00 price objective (down from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. TD Cowen lifted 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. JPMorgan Chase & Co. raised their price target on shares of Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $514.79.

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.