Aprio Wealth Management LLC Acquires New Holdings in Spotify Technology S.A. (NYSE:SPOT)

Aprio Wealth Management LLC bought a new position in Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 755 shares of the company’s stock, valued at approximately $338,000.

Several other hedge funds also recently modified their holdings of SPOT. Prestige Wealth Management Group LLC bought a new stake in Spotify Technology in the third quarter worth $26,000. Benjamin Edwards Inc. lifted its position in shares of Spotify Technology by 214.8% in the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after buying an additional 58 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Spotify Technology during the 3rd quarter worth about $33,000. Larson Financial Group LLC increased its holdings in shares of Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after acquiring an additional 33 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Spotify Technology in the 2nd quarter valued at approximately $39,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Trading Down 0.6 %

NYSE:SPOT opened at $456.85 on Tuesday. The stock has a market capitalization of $90.94 billion, a P/E ratio of 124.14 and a beta of 1.62. Spotify Technology S.A. has a 1 year low of $191.88 and a 1 year high of $506.47. The firm has a 50 day moving average of $461.72 and a 200-day moving average of $385.72.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.30). The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 EPS. As a group, analysts forecast that Spotify Technology S.A. will post 6.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SPOT has been the topic of several analyst reports. Barclays increased their price target on Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. KeyCorp raised their target price on shares of Spotify Technology from $520.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday. Cantor Fitzgerald reissued a “neutral” rating and set a $340.00 target price on shares of Spotify Technology in a research report on Monday, October 7th. Piper Sandler raised their price target on Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $433.36.

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.