Larson Financial Group LLC Acquires 33 Shares of Spotify Technology S.A. (NYSE:SPOT)

Larson Financial Group LLC increased its holdings in Spotify Technology S.A. (NYSE:SPOT) by 51.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97 shares of the company’s stock after purchasing an additional 33 shares during the period. Larson Financial Group LLC’s holdings in Spotify Technology were worth $36,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aigen Investment Management LP grew its holdings in shares of Spotify Technology by 42.4% in 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 during the last quarter. Pathway Capital Management LP boosted its position in Spotify Technology by 23.8% in the third quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock valued at $21,132,000 after buying an additional 11,042 shares in the last quarter. Perpetual Ltd grew its stake in Spotify Technology by 24.3% during the third quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock worth $279,965,000 after buying an additional 148,431 shares during the last quarter. Covenant Asset Management LLC acquired a new stake in shares of Spotify Technology during the third quarter worth approximately $3,364,000. Finally, Jag Capital Management LLC bought a new position in shares of Spotify Technology in the third quarter valued at approximately $13,569,000. Institutional investors own 84.09% of the company’s stock.

Analysts Set New Price Targets

SPOT has been the topic of a number of research analyst reports. TD Cowen increased their price target on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. Barclays raised their target price on Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Macquarie upped their price target on shares of Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Rosenblatt Securities raised their price objective on shares of Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Pivotal Research boosted their target price on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research note 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $421.69.

Spotify Technology Price Performance

Shares of Spotify Technology stock opened at $476.96 on Friday. The company has a market capitalization of $94.94 billion, a P/E ratio of 129.61 and a beta of 1.56. The business has a 50-day moving average of $404.30 and a two-hundred day moving average of $350.65. Spotify Technology S.A. has a 1 year low of $179.66 and a 1 year high of $489.69.

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