Generali Asset Management SPA SGR Purchases 16,054 Shares of Spotify Technology $SPOT

Generali Asset Management SPA SGR lifted its position in shares of Spotify Technology (NYSE:SPOT) by 30.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,023 shares of the company’s stock after purchasing an additional 16,054 shares during the quarter. Spotify Technology accounts for 1.0% of Generali Asset Management SPA SGR’s portfolio, making the stock its 19th largest position. Generali Asset Management SPA SGR’s holdings in Spotify Technology were worth $46,692,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SPOT. Joel Isaacson & Co. LLC raised its stake in Spotify Technology by 1.0% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 1,551 shares of the company’s stock worth $1,190,000 after buying an additional 15 shares during the period. Ignite Planners LLC increased its holdings in shares of Spotify Technology by 2.4% in the second quarter. Ignite Planners LLC now owns 637 shares of the company’s stock worth $489,000 after acquiring an additional 15 shares in the last quarter. Stonekeep Investments LLC raised its position in shares of Spotify Technology by 2.1% during the second quarter. Stonekeep Investments LLC now owns 773 shares of the company’s stock worth $593,000 after purchasing an additional 16 shares during the period. Moody National Bank Trust Division raised its position in shares of Spotify Technology by 0.5% during the second quarter. Moody National Bank Trust Division now owns 2,931 shares of the company’s stock worth $2,249,000 after purchasing an additional 16 shares during the period. Finally, Cloud Capital Management LLC lifted its holdings in shares of Spotify Technology by 4.8% during the 2nd quarter. Cloud Capital Management LLC now owns 392 shares of the company’s stock valued at $301,000 after purchasing an additional 18 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Trading Up 0.9%

Spotify Technology stock opened at $581.66 on Friday. The company has a market cap of $119.76 billion, a P/E ratio of 91.46, a price-to-earnings-growth ratio of 1.87 and a beta of 1.66. Spotify Technology has a 1-year low of $443.21 and a 1-year high of $785.00. The company has a fifty day simple moving average of $603.82 and a 200 day simple moving average of $666.83.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 EPS for the quarter, topping the consensus estimate of $1.87 by $1.96. The firm had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $4.23 billion. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.45 EPS. On average, equities research analysts forecast that Spotify Technology will post 10.3 EPS for the current year.

Wall Street Analysts Forecast Growth

SPOT has been the subject of a number of research reports. Phillip Securities raised Spotify Technology from a “hold” rating to a “moderate buy” rating in a research note on Monday, November 10th. Citizens Jmp assumed coverage on shares of Spotify Technology in a report on Wednesday, December 17th. They issued a “market outperform” rating and a $800.00 price target for the company. Barclays lowered their price objective on shares of Spotify Technology from $750.00 to $700.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Pivotal Research cut their price objective on shares of Spotify Technology from $900.00 to $875.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of Spotify Technology from $740.00 to $805.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $760.23.

About Spotify Technology

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.