Spotify Technology Sees Unusually Large Options Volume (NYSE:SPOT)

Spotify Technology S.A. (NYSE:SPOT) was the recipient of unusually large options trading on Thursday. Stock investors acquired 25,696 call options on the company. This represents an increase of 78% compared to the typical volume of 14,444 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley raised their target price on Spotify Technology from $430.00 to $460.00 and gave the stock an “overweight” rating in a research note on Wednesday. Piper Sandler boosted their target price on shares of Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Canaccord Genuity Group upped their price objective on shares of Spotify Technology from $475.00 to $525.00 and gave the company a “buy” rating in a report on Thursday. Finally, DZ Bank raised shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price objective on the stock in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $421.69.

Spotify Technology Stock Performance

Shares of Spotify Technology stock traded down $19.18 during trading hours on Friday, hitting $458.32. 3,024,154 shares of the company’s stock traded hands, compared to its average volume of 1,936,045. The company has a fifty day simple moving average of $378.15 and a 200-day simple moving average of $337.83. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a market capitalization of $91.23 billion, a price-to-earnings ratio of 124.59 and a beta of 1.56. Spotify Technology has a 12-month low of $170.62 and a 12-month high of $489.69.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a return on equity of 20.99% and a net margin of 4.66%. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same period in the prior year, the firm posted $0.36 EPS. The business’s revenue was up 18.8% on a year-over-year basis. Equities research analysts anticipate that Spotify Technology will post 6.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Spotify Technology

Several institutional investors and hedge funds have recently bought and sold shares of SPOT. GQG Partners LLC purchased a new position in shares of Spotify Technology in the first quarter worth about $610,040,000. Swedbank AB bought a new position in Spotify Technology in the 1st quarter worth approximately $198,663,000. WCM Investment Management LLC grew its stake in Spotify Technology by 18.5% in 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 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 acquiring an additional 346,585 shares during the period. Finally, Sei Investments Co. lifted its position in shares of Spotify Technology by 106.8% during the second quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock worth $202,828,000 after acquiring an additional 333,782 shares in the last quarter. 84.09% of the stock is owned by institutional investors.

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.