12,032 Shares in Spotify Technology $SPOT Acquired by Compass Wealth Management LLC

Compass Wealth Management LLC bought a new position in Spotify Technology (NYSE:SPOT) in the third quarter, according to its most recent filing with the SEC. The firm bought 12,032 shares of the company’s stock, valued at approximately $8,398,000. Spotify Technology makes up 1.0% of Compass Wealth Management LLC’s investment portfolio, making the stock its 27th largest position.

Other hedge funds have also bought and sold shares of the company. Sage Mountain Advisors LLC grew its holdings in shares of Spotify Technology by 6.3% during the third quarter. Sage Mountain Advisors LLC now owns 289 shares of the company’s stock valued at $201,000 after buying an additional 17 shares during the last quarter. Cloud Capital Management LLC lifted its position in Spotify Technology by 4.8% during the 2nd quarter. Cloud Capital Management LLC now owns 392 shares of the company’s stock worth $301,000 after acquiring an additional 18 shares during the period. Fullerton Fund Management Co Ltd. grew its stake in Spotify Technology by 7.0% during the 2nd quarter. Fullerton Fund Management Co Ltd. now owns 276 shares of the company’s stock valued at $212,000 after purchasing an additional 18 shares during the last quarter. Huntington National Bank increased its holdings in shares of Spotify Technology by 3.9% in the second quarter. Huntington National Bank now owns 506 shares of the company’s stock valued at $388,000 after purchasing an additional 19 shares during the period. Finally, Granite Group Advisors LLC raised its stake in shares of Spotify Technology by 2.6% in the third quarter. Granite Group Advisors LLC now owns 756 shares of the company’s stock worth $528,000 after purchasing an additional 19 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of NYSE SPOT opened at $485.13 on Friday. The company has a market capitalization of $99.85 billion, a PE ratio of 50.33, a price-to-earnings-growth ratio of 1.06 and a beta of 1.66. The company’s fifty day moving average price is $523.96 and its 200 day moving average price is $616.25. Spotify Technology has a 1 year low of $405.00 and a 1 year high of $785.00.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.16 by $2.00. Spotify Technology had a net margin of 13.16% and a return on equity of 31.35%. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the prior year, the firm posted $1.88 earnings per share. The company’s revenue was up 6.8% compared to the same quarter last year. On average, equities analysts expect that Spotify Technology will post 10.3 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on SPOT shares. The Goldman Sachs Group upgraded shares of Spotify Technology from a “neutral” rating to a “buy” rating and cut their price target for the stock from $735.00 to $700.00 in a report on Friday, January 23rd. DZ Bank raised shares of Spotify Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. KeyCorp cut their price objective on shares of Spotify Technology from $830.00 to $720.00 and set an “overweight” rating on the stock in a research note on Monday, February 9th. UBS Group decreased their target price on shares of Spotify Technology from $850.00 to $800.00 and set a “buy” rating for the company in a research report on Friday, January 9th. Finally, Citizens Jmp initiated 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 on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Spotify Technology presently has a consensus rating of “Moderate Buy” and an average target price of $706.42.

Spotify Technology 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.