Pathstone Holdings LLC Has $8.94 Million Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Pathstone Holdings LLC boosted its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 16.9% in the third quarter, Holdings Channel.com reports. The firm owned 24,258 shares of the company’s stock after purchasing an additional 3,515 shares during the period. Pathstone Holdings LLC’s holdings in Spotify Technology were worth $8,940,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aigen Investment Management LP raised its stake in shares of Spotify Technology by 42.4% during the 3rd quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock worth $3,612,000 after purchasing an additional 2,918 shares in the last quarter. Pathway Capital Management LP raised its position in Spotify Technology by 23.8% during the third quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock valued at $21,132,000 after acquiring an additional 11,042 shares in the last quarter. Perpetual Ltd lifted its stake in Spotify Technology by 24.3% in the third quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock valued at $279,965,000 after acquiring an additional 148,431 shares during the last quarter. Jag Capital Management LLC bought a new stake in Spotify Technology in the third quarter worth approximately $13,569,000. Finally, Northeast Investment Management increased its stake in shares of Spotify Technology by 67.6% during the 3rd quarter. Northeast Investment Management now owns 12,991 shares of the company’s stock worth $4,788,000 after purchasing an additional 5,240 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SPOT. Piper Sandler lifted their price objective on shares of Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. TD Cowen upped their price target on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. Phillip Securities reissued an “accumulate” rating and issued a $485.00 price objective (up from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. Evercore ISI upped their target price on Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Morgan Stanley increased their price target on Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Spotify Technology presently has an average rating of “Moderate Buy” and a consensus target price of $421.69.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $472.50 on Friday. The firm has a fifty day moving average of $388.87 and a 200-day moving average of $342.73. The stock has a market cap of $94.05 billion, a price-to-earnings ratio of 128.40 and a beta of 1.56. Spotify Technology S.A. has a 52-week low of $178.73 and a 52-week high of $489.69.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the prior year, the business earned $0.36 EPS. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, sell-side analysts predict that Spotify Technology S.A. will post 6.02 earnings per share for the current 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.