Matrix Trust Co Acquires New Position in Spotify Technology S.A. (NYSE:SPOT)

Matrix Trust Co bought a new position in Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 336 shares of the company’s stock, valued at approximately $150,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. WCM Investment Management LLC lifted its position in Spotify Technology by 18.5% in the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after purchasing an additional 605,755 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Spotify Technology by 36,910.0% during the 3rd quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock valued at $128,073,000 after buying an additional 346,585 shares during the last quarter. Sei Investments Co. grew its holdings in Spotify Technology by 106.8% in the 2nd quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock worth $202,828,000 after acquiring an additional 333,782 shares during the last quarter. FMR LLC increased its position in shares of 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 acquiring an additional 297,035 shares during the period. Finally, Janus Henderson Group PLC raised its stake in shares of 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 acquiring an additional 257,706 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on SPOT shares. Benchmark boosted their price target on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Monday, November 11th. Rosenblatt Securities boosted 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. KeyCorp raised their target price on shares of Spotify Technology from $520.00 to $555.00 and gave the stock an “overweight” rating in a research report on Friday. Canaccord Genuity Group increased their price target on shares of Spotify Technology from $525.00 to $560.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $340.00 price objective on shares of Spotify Technology in a research report on Monday, October 7th. One research 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $433.36.

Spotify Technology Stock Down 0.6 %

Shares of SPOT opened at $456.85 on Tuesday. The business has a fifty day moving average of $461.72 and a 200 day moving average of $385.72. The company has a market cap of $90.94 billion, a PE ratio of 124.14 and a beta of 1.62. Spotify Technology S.A. has a 52-week low of $191.88 and a 52-week high of $506.47.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share 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 analysts’ expectations of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. As a group, research analysts anticipate that Spotify Technology S.A. will post 6.02 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.