RFG Advisory LLC Buys 188 Shares of Spotify Technology S.A. (NYSE:SPOT)

RFG Advisory LLC increased its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 10.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,993 shares of the company’s stock after buying an additional 188 shares during the period. RFG Advisory LLC’s holdings in Spotify Technology were worth $891,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SPOT. WCM Investment Management LLC increased 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 purchasing an additional 605,755 shares during the last quarter. International Assets Investment Management LLC increased its position in 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 buying an additional 346,585 shares during the last quarter. FMR LLC raised its stake 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 buying an additional 297,035 shares during the period. Janus Henderson Group PLC lifted its position in shares of Spotify Technology by 3,948.3% during the 3rd quarter. Janus Henderson Group PLC now owns 264,233 shares of the company’s stock valued at $97,329,000 after buying an additional 257,706 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Spotify Technology by 179.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 380,214 shares of the company’s stock valued at $140,120,000 after buying an additional 243,933 shares during the last quarter. 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 reports. Benchmark restated a “buy” rating and issued a $520.00 price objective on shares of Spotify Technology in a research note on Thursday, January 16th. TD Cowen upped their price target on shares of Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th. UBS Group lifted their price objective on shares of Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Morgan Stanley increased their target price on Spotify Technology from $430.00 to $460.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $441.21.

Spotify Technology Stock Performance

SPOT stock opened at $511.19 on Monday. Spotify Technology S.A. has a one year low of $210.34 and a one year high of $512.01. The company has a market capitalization of $101.75 billion, a PE ratio of 138.91 and a beta of 1.62. The company’s 50 day moving average price is $473.74 and its two-hundred day moving average price is $396.25.

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. On average, research analysts predict that Spotify Technology S.A. will post 5.91 EPS for the current year.

Spotify Technology Company 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.