Park National Corp OH Raises Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Park National Corp OH increased its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 9.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 762 shares of the company’s stock after acquiring an additional 68 shares during the quarter. Park National Corp OH’s holdings in Spotify Technology were worth $281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. GQG Partners LLC bought a new position in shares of Spotify Technology in the 1st quarter worth about $610,040,000. Swedbank AB purchased a new stake in Spotify Technology in the 1st quarter worth $198,663,000. Sei Investments Co. lifted its holdings in shares of Spotify Technology by 106.8% in the second quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock worth $202,828,000 after buying an additional 333,782 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Spotify Technology by 327.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 391,253 shares of the company’s stock valued at $73,520,000 after buying an additional 299,700 shares during the last quarter. Finally, Castle Hook Partners LP bought a new stake in shares of Spotify Technology in the 1st quarter worth about $60,870,000. Institutional investors own 84.09% of the company’s stock.

Analyst Ratings Changes

SPOT has been the subject of several analyst reports. Guggenheim raised their price objective on shares of Spotify Technology from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Spotify Technology from $375.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. DZ Bank raised Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price objective on the stock in a report on Wednesday, July 24th. Evercore ISI boosted their target price on shares of Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, Macquarie upped their price objective on Spotify Technology from $345.00 to $395.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $359.14.

Spotify Technology Price Performance

SPOT stock opened at $372.50 on Friday. The business has a 50 day simple moving average of $343.50 and a 200-day simple moving average of $314.24. The firm has a market capitalization of $74.15 billion, a PE ratio of -555.96 and a beta of 1.57. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. Spotify Technology S.A. has a 1 year low of $145.76 and a 1 year high of $389.23.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.08 by $0.25. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.82 billion. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.69) EPS. Equities research analysts anticipate that Spotify Technology S.A. will post 6.26 earnings per share for the current fiscal year.

Spotify Technology Company Profile

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.