Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Beck Capital Management LLC

Beck Capital Management LLC increased its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,077 shares of the company’s stock after acquiring an additional 103 shares during the quarter. Spotify Technology comprises approximately 1.1% of Beck Capital Management LLC’s portfolio, making the stock its 28th largest holding. Beck Capital Management LLC’s holdings in Spotify Technology were worth $4,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Benjamin Edwards Inc. increased its position in Spotify Technology by 5,045.9% during the third quarter. Benjamin Edwards Inc. now owns 4,374 shares of the company’s stock worth $1,612,000 after buying an additional 4,289 shares during the period. Avala Global LP purchased a new position in shares of Spotify Technology during the third quarter worth approximately $50,304,000. Paloma Partners Management Co increased its holdings in shares of Spotify Technology by 99.4% in the 3rd quarter. Paloma Partners Management Co now owns 18,759 shares of the company’s stock valued at $6,913,000 after acquiring an additional 9,350 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in Spotify Technology by 82.5% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 18,671 shares of the company’s stock valued at $6,881,000 after purchasing an additional 8,443 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in Spotify Technology during the 3rd quarter worth $780,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

SPOT stock opened at $476.96 on Monday. The stock’s 50 day moving average price is $404.30 and its 200 day moving average price is $350.99. The firm has a market cap of $94.94 billion, a P/E ratio of 129.61 and a beta of 1.56. Spotify Technology S.A. has a 1 year low of $179.66 and a 1 year high of $489.69.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.03 billion. During the same period in the previous year, the business earned $0.36 EPS. The firm’s revenue was up 18.8% on a year-over-year basis. On average, research analysts predict that Spotify Technology S.A. will post 6.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Bank of America lifted their price objective on shares of Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Wells Fargo & Company raised their price target on Spotify Technology from $470.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. KeyCorp upped their price objective on Spotify Technology from $490.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Phillip Securities reiterated an “accumulate” rating and issued a $485.00 target price (up from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. Finally, Benchmark boosted their target price on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and an average target price of $421.69.

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.