Octavia Wealth Advisors LLC Acquires New Position in Spotify Technology S.A. (NYSE:SPOT)

Octavia Wealth Advisors LLC acquired a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 895 shares of the company’s stock, valued at approximately $400,000.

A number of other large investors also recently modified their holdings of SPOT. WCM Investment Management LLC raised 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 valued at $1,430,142,000 after buying an additional 605,755 shares in the last quarter. International Assets Investment Management LLC raised 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 valued at $128,073,000 after buying an additional 346,585 shares in the last quarter. FMR LLC raised 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 valued at $577,788,000 after buying an additional 297,035 shares in the last quarter. Janus Henderson Group PLC raised 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 valued at $97,329,000 after buying an additional 257,706 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Spotify Technology by 179.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 380,214 shares of the company’s stock worth $140,120,000 after purchasing an additional 243,933 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on SPOT shares. JPMorgan Chase & Co. lifted their price target on Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Wells Fargo & Company lifted their price target on Spotify Technology from $470.00 to $520.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Morgan Stanley lifted their price target on Spotify Technology from $430.00 to $460.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Piper Sandler lifted their price target on Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $441.21.

Spotify Technology Trading Up 0.4 %

Shares of NYSE:SPOT opened at $487.29 on Wednesday. The stock has a fifty day simple moving average of $470.33 and a two-hundred day simple moving average of $391.64. The stock has a market capitalization of $97.00 billion, a price-to-earnings ratio of 132.42 and a beta of 1.62. Spotify Technology S.A. has a 12-month low of $204.22 and a 12-month high of $506.47.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). The company had revenue of $3.99 billion for 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 quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 EPS. As a group, equities research analysts predict that Spotify Technology S.A. will post 5.91 EPS for the current 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.