Spotify Technology S.A. (NYSE:SPOT) Shares Bought by West Oak Capital LLC

West Oak Capital LLC raised its holdings in Spotify Technology S.A. (NYSE:SPOT) by 449,633.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,984 shares of the company’s stock after acquiring an additional 26,978 shares during the period. Spotify Technology makes up approximately 3.7% of West Oak Capital LLC’s investment portfolio, making the stock its 4th largest position. West Oak Capital LLC’s holdings in Spotify Technology were worth $12,072,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. WCM Investment Management LLC increased its holdings 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 buying an additional 605,755 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of 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 worth $128,073,000 after buying an additional 346,585 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Spotify Technology by 106.8% during the 2nd quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock worth $202,828,000 after buying an additional 333,782 shares during the last quarter. FMR LLC increased its holdings in shares of Spotify Technology by 23.4% during the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after buying an additional 297,035 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings 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 worth $97,329,000 after buying an additional 257,706 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SPOT shares. Barclays raised their price target on shares of Spotify Technology from $385.00 to $475.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Phillip Securities reaffirmed an “accumulate” rating and set a $485.00 price objective (up previously from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. JPMorgan Chase & Co. increased their price objective on shares of Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Rosenblatt Securities increased their price objective on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Bank of America increased their price objective on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $433.36.

Spotify Technology Stock Performance

NYSE SPOT traded down $19.91 during trading on Friday, reaching $459.82. The company’s stock had a trading volume of 2,966,125 shares, compared to its average volume of 1,735,368. The firm has a market cap of $91.53 billion, a price-to-earnings ratio of 124.95 and a beta of 1.62. Spotify Technology S.A. has a twelve month low of $191.88 and a twelve month high of $506.47. The business’s fifty day moving average price is $458.63 and its 200-day moving average price is $382.82.

Spotify Technology (NYSE:SPOT) last issued its 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 firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The firm’s revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 EPS. As a group, sell-side analysts forecast that Spotify Technology S.A. will post 6.02 EPS 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.