Aaron Wealth Advisors LLC Takes $223,000 Position in Spotify Technology S.A. (NYSE:SPOT)

Aaron Wealth Advisors LLC bought a new stake in Spotify Technology S.A. (NYSE:SPOT) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 606 shares of the company’s stock, valued at approximately $223,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SPOT. Larson Financial Group LLC raised its holdings in shares of Spotify Technology by 86.0% in the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after purchasing an additional 43 shares during the period. Transcendent Capital Group LLC acquired a new position in Spotify Technology in the 2nd quarter valued at about $25,000. Benjamin Edwards Inc. grew its stake in Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the last quarter. Mather Group LLC. grew its stake in Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after buying an additional 99 shares during the last quarter. Finally, FinTrust Capital Advisors LLC grew its stake in Spotify Technology by 400.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock valued at $33,000 after buying an additional 100 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on SPOT shares. Rosenblatt Securities upped their price target on shares of Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a research note on Thursday. Wolfe Research started coverage on shares of Spotify Technology in a research note on Friday, July 12th. They issued an “outperform” rating and a $390.00 price target on the stock. DZ Bank upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price target on the stock in a research note on Wednesday, July 24th. KeyCorp increased their target price on shares of Spotify Technology from $440.00 to $490.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley increased their target price on shares of Spotify Technology from $370.00 to $400.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. One research 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $362.21.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $378.88 on Monday. The company has a market cap of $72.06 billion, a price-to-earnings ratio of -565.49 and a beta of 1.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a 50 day simple moving average of $352.57 and a 200 day simple moving average of $323.30. Spotify Technology S.A. has a one year low of $145.76 and a one year high of $389.23.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.08 by $0.25. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.82 billion. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. The firm’s revenue was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.69) EPS. Research analysts predict that Spotify Technology S.A. will post 6.24 earnings per share for the current fiscal year.

About Spotify Technology

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.