Annis Gardner Whiting Capital Advisors LLC Grows Holdings in Spotify Technology $SPOT

Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of Spotify Technology (NYSE:SPOT) by 9,592.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,260 shares of the company’s stock after acquiring an additional 1,247 shares during the quarter. Annis Gardner Whiting Capital Advisors LLC’s holdings in Spotify Technology were worth $879,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SPOT. Knuff & Co LLC purchased a new position in Spotify Technology during the second quarter worth approximately $27,000. Heartwood Wealth Advisors LLC purchased a new stake in shares of Spotify Technology in the third quarter valued at approximately $27,000. Total Investment Management Inc. acquired a new position in shares of Spotify Technology during the 2nd quarter worth approximately $29,000. Westfuller Advisors LLC acquired a new position in shares of Spotify Technology during the 3rd quarter worth approximately $29,000. Finally, Sound Income Strategies LLC lifted its position in shares of Spotify Technology by 156.3% during the 2nd quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock valued at $31,000 after buying an additional 25 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Trading Down 0.5%

SPOT stock opened at $509.25 on Thursday. The company has a market cap of $104.85 billion, a price-to-earnings ratio of 80.07, a PEG ratio of 0.98 and a beta of 1.66. Spotify Technology has a 12 month low of $475.01 and a 12 month high of $785.00. The firm has a 50-day moving average of $562.22 and a two-hundred day moving average of $639.98.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SPOT. Erste Group Bank lowered shares of Spotify Technology from a “buy” rating to a “hold” rating in a report on Friday, December 5th. Wall Street Zen upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. DZ Bank raised shares of Spotify Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Barclays reduced their price target on shares of Spotify Technology from $700.00 to $625.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. Finally, Cantor Fitzgerald lowered their price objective on Spotify Technology from $675.00 to $615.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Two equities research 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $730.94.

Spotify Technology Company Profile

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.