518 Shares in Spotify Technology S.A. (NYSE:SPOT) Bought by Focus Financial Network Inc.

Focus Financial Network Inc. purchased a new position in Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 518 shares of the company’s stock, valued at approximately $232,000.

A number of other large investors have also modified their holdings of SPOT. Aigen Investment Management LP grew its position in Spotify Technology by 42.4% during the 3rd quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock worth $3,612,000 after purchasing an additional 2,918 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Spotify Technology in the 4th quarter valued at $1,335,575,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Spotify Technology in the 4th quarter valued at $214,000. Pathway Capital Management LP raised its stake in Spotify Technology by 23.8% in the 3rd quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock worth $21,132,000 after acquiring an additional 11,042 shares during the last quarter. Finally, Covenant Asset Management LLC acquired a new stake in Spotify Technology during the 3rd quarter worth about $3,364,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $637.75 on Friday. The stock has a 50 day moving average of $505.57 and a 200 day moving average of $423.21. The firm has a market capitalization of $126.94 billion, a price-to-earnings ratio of 107.18 and a beta of 1.63. Spotify Technology S.A. has a fifty-two week low of $239.66 and a fifty-two week high of $652.63.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 earnings per share. Analysts forecast that Spotify Technology S.A. will post 9.69 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SPOT shares. TD Cowen raised their price objective on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group increased their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Piper Sandler upped their price target on shares of Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Guggenheim lifted their price objective on Spotify Technology from $520.00 to $675.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Finally, Citigroup upped their target price on Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a research note on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $529.43.

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.