Spotify Technology S.A. (NYSE:SPOT) Stake Increased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its holdings in shares of Spotify Technology S.A. (NYSE:SPOTGet Rating) by 81.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,866 shares of the company’s stock after purchasing an additional 1,738 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Spotify Technology were worth $334,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SPOT. Live Oak Private Wealth LLC raised its holdings in shares of Spotify Technology by 47.7% during the second quarter. Live Oak Private Wealth LLC now owns 8,041 shares of the company’s stock worth $754,000 after acquiring an additional 2,596 shares in the last quarter. Slow Capital Inc. lifted its holdings in shares of Spotify Technology by 9.1% during the 2nd quarter. Slow Capital Inc. now owns 12,730 shares of the company’s stock valued at $1,194,000 after buying an additional 1,062 shares during the last quarter. Twin Lakes Capital Management LLC acquired a new stake in shares of Spotify Technology during the 3rd quarter valued at about $34,000. SRS Investment Management LLC grew its stake in shares of Spotify Technology by 74.4% in the 2nd quarter. SRS Investment Management LLC now owns 325,924 shares of the company’s stock valued at $30,581,000 after buying an additional 139,044 shares in the last quarter. Finally, Walleye Capital LLC increased its holdings in Spotify Technology by 146.6% in the second quarter. Walleye Capital LLC now owns 53,800 shares of the company’s stock worth $5,048,000 after buying an additional 31,981 shares during the last quarter. 52.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on SPOT. Citigroup decreased their target price on shares of Spotify Technology from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, October 27th. Pivotal Research lowered their target price on shares of Spotify Technology from $105.00 to $100.00 in a research report on Wednesday, October 26th. Raymond James cut their target price on Spotify Technology from $150.00 to $110.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Deutsche Bank Aktiengesellschaft decreased their price target on Spotify Technology from $115.00 to $105.00 and set a “hold” rating for the company in a research note on Monday, October 24th. Finally, Rosenblatt Securities cut their price objective on Spotify Technology from $112.00 to $87.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 1st. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Spotify Technology has an average rating of “Hold” and a consensus price target of $142.44.

Spotify Technology Trading Down 0.7 %

SPOT opened at $99.29 on Wednesday. The stock’s 50 day simple moving average is $81.68 and its 200-day simple moving average is $92.96. The stock has a market cap of $19.08 billion, a PE ratio of -52.26 and a beta of 1.66. Spotify Technology S.A. has a 1 year low of $69.29 and a 1 year high of $208.49.

Spotify Technology (NYSE:SPOTGet Rating) last posted its quarterly earnings results on Tuesday, October 25th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.11). Spotify Technology had a negative return on equity of 8.21% and a negative net margin of 1.62%. The business had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.03 billion. Equities analysts forecast that Spotify Technology S.A. will post -2.64 earnings per share for the current fiscal year.

About Spotify Technology

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Spotify Technology SA, together with its subsidiaries, provides audio streaming services worldwide. It operates 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.

See Also

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Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

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