Janney Montgomery Scott LLC boosted its holdings in shares of Spotify Technology SA (NYSE:SPOT – Get Rating ) by 81.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,866 shares of the company’s stock after purchasing an additional 1,738 shares during the period. Janney Montgomery Scott LLC’s holdings in Spotify Technology were worth $334,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Arlington Partners LLC lifted its stake in shares of Spotify Technology by 1,394.7% in the second quarter. Arlington Partners LLC now owns 284 shares of the company’s stock valued at $27,000 after buying an additional 265 shares during the last quarter. CoreCap Advisors LLC acquired a new stake in shares of Spotify Technology in the second quarter valued at $29,000. Desjardins Global Asset Management Inc. bought a new stake in shares of Spotify Technology in the second quarter worth about $34,000. Twin Lakes Capital Management LLC bought a new stake in shares of Spotify Technology in the third quarter worth about $34,000. Finally, First Manhattan Co. boosted its holdings in Spotify Technology by 65.8% during the first quarter. First Manhattan Co. now owns 252 shares of the company’s stock valued at $38,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 52.80% of the company’s shares.
The Wall Street analyst weighs in
A number of brokerages recently issued reports on SPOT. Pivotal Research cut their target price on Spotify Technology from $105.00 to $100.00 in a research note on Wednesday, October 26th. Jefferies Financial Group cut shares of Spotify Technology from a “buy” rating to a “hold” rating and decreased their target price for the stock from $115.00 to $95.00 in a research note on Thursday, January 12th. Evercore ISI decreased their price objective on shares of Spotify Technology from $230.00 to $175.00 in a research note on Wednesday, October 26th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Spotify Technology from $115.00 to $105.00 and set a “hold” rating on the stock in a research report on Monday, October 24th. Finally, Canaccord Genuity Group cut their target price on shares of Spotify Technology from $175.00 to $150.00 in a research report on Monday, October 24th. Thirteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $142.44, according to MarketBeat.com.
Spotify Technology Pricing Performance
Shares of Spotify Technology stock opened at $99.29 on Wednesday. The stock’s 50-day moving average is $81.68 and its 200-day moving average is $92.96. The company has a market cap of $19.08 billion, a price-to-earnings ratio of -52.26 and a beta of 1.66. Spotify Technology SA has a 12-month low of $69.29 and a 12-month high of $208.49.
Spotify Technology (NYSE:SPOT – Get Rating ) last posted its earnings results on Tuesday, October 25th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.11). Spotify Technology had a negative net margin of 1.62% and a negative return on equity of 8.21%. The business had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.03 billion. analysts anticipate that Spotify Technology SA will post -2.64 EPS for the current year.
About Spotify technology
Spotify Technology SA, together with its subsidiaries, provides audio streaming services worldwide. It works through Premium and Ad-Supported segments. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.
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