Wedmont Private Capital Buys 95 Shares of Spotify Technology S.A. (NYSE:SPOT)

Wedmont Private Capital boosted its position in Spotify Technology S.A. (NYSE:SPOT) by 8.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,245 shares of the company’s stock after purchasing an additional 95 shares during the period. Wedmont Private Capital’s holdings in Spotify Technology were worth $572,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. WCM Investment Management LLC grew its stake in shares of Spotify Technology by 18.5% during the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after acquiring an additional 605,755 shares during the period. International Assets Investment Management LLC raised its stake in Spotify Technology by 36,910.0% in the 3rd quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock valued at $128,073,000 after acquiring an additional 346,585 shares during the period. Sei Investments Co. lifted its holdings in Spotify Technology by 106.8% during the second quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock valued at $202,828,000 after purchasing an additional 333,782 shares during the last quarter. FMR LLC boosted its position in Spotify Technology by 23.4% during the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after purchasing an additional 297,035 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of Spotify Technology by 3,948.3% in the third quarter. Janus Henderson Group PLC now owns 264,233 shares of the company’s stock worth $97,329,000 after purchasing an additional 257,706 shares in the last quarter. 84.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of recent research reports. Phillip Securities restated an “accumulate” rating and set a $485.00 price target (up from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. JPMorgan Chase & Co. increased their target price on Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group boosted their price objective on Spotify Technology from $490.00 to $550.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Benchmark raised their target price on Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Morgan Stanley upped their price target on Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, Spotify Technology has an average rating of “Moderate Buy” and an average price target of $433.36.

Spotify Technology Trading Up 1.0 %

SPOT opened at $463.15 on Wednesday. Spotify Technology S.A. has a 12 month low of $191.88 and a 12 month high of $506.47. The business’s 50-day moving average price is $463.33 and its 200-day moving average price is $386.77. The company has a market cap of $92.19 billion, a P/E ratio of 125.86 and a beta of 1.62.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data 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). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the previous year, the firm posted $0.36 EPS. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. Equities research analysts forecast 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.