Versant Capital Management Inc Purchases 71 Shares of Spotify Technology S.A. (NYSE:SPOT)

Versant Capital Management Inc increased its holdings in Spotify Technology S.A. (NYSE:SPOT) by 89.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 150 shares of the company’s stock after acquiring an additional 71 shares during the quarter. Versant Capital Management Inc’s holdings in Spotify Technology were worth $67,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in SPOT. WCM Investment Management LLC raised its holdings in shares of Spotify Technology by 18.5% in the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after acquiring an additional 605,755 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Spotify Technology by 36,910.0% in the third quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock worth $128,073,000 after purchasing an additional 346,585 shares during the last quarter. Sei Investments Co. increased its position 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 purchasing an additional 333,782 shares during the last quarter. FMR LLC raised its stake in Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after purchasing an additional 297,035 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in Spotify Technology by 3,948.3% during the third quarter. Janus Henderson Group PLC now owns 264,233 shares of the company’s stock valued at $97,329,000 after purchasing an additional 257,706 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SPOT. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Bank of America lifted their price target on Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Benchmark increased their price objective on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Rosenblatt Securities boosted their target price on Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $340.00 price target on shares of Spotify Technology in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $429.96.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $466.69 on Monday. Spotify Technology S.A. has a 1 year low of $187.45 and a 1 year high of $506.47. The stock has a market capitalization of $92.90 billion, a P/E ratio of 126.82 and a beta of 1.62. The company’s 50-day moving average is $451.89 and its 200 day moving average is $379.33.

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

Spotify Technology 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.