M3 Advisory Group LLC Makes New Investment in Spotify Technology S.A. (NYSE:SPOT)

M3 Advisory Group LLC acquired a new stake in Spotify Technology S.A. (NYSE:SPOT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 457 shares of the company’s stock, valued at approximately $204,000.

Other institutional investors also recently made changes to their positions in the company. Prestige Wealth Management Group LLC purchased a new stake in shares of Spotify Technology during the third quarter valued at approximately $26,000. Hobbs Group Advisors LLC bought a new stake in Spotify Technology during the 3rd quarter valued at $33,000. Larson Financial Group LLC boosted its position in Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after buying an additional 33 shares during the period. V Square Quantitative Management LLC bought a new stake in Spotify Technology in the 3rd quarter worth $40,000. Finally, Rakuten Securities Inc. increased its position in shares of Spotify Technology by 40.5% in the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after acquiring an additional 32 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on SPOT. Canaccord Genuity Group raised their target price on Spotify Technology from $525.00 to $560.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Barclays lifted their price objective on Spotify Technology from $385.00 to $475.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald restated a “neutral” rating and set a $340.00 target price on shares of Spotify Technology in a report on Monday, October 7th. Macquarie raised their price target on Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Bank of America boosted their price objective on shares of Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $441.21.

Spotify Technology Stock Performance

Shares of NYSE SPOT opened at $511.19 on Friday. The firm’s 50 day moving average price is $473.74 and its 200-day moving average price is $395.66. Spotify Technology S.A. has a 52-week low of $210.34 and a 52-week high of $512.01. The company has a market cap of $101.75 billion, a PE ratio of 138.91 and a beta of 1.62.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.30). The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The business’s revenue was up 18.8% compared to the same quarter last year. During the same period last year, the company posted $0.36 earnings per share. On average, analysts forecast that Spotify Technology S.A. will post 5.91 earnings per share for the current fiscal year.

Spotify Technology 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.