Glenmede Trust Co. NA Has $19.51 Million Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Glenmede Trust Co. NA raised its stake in Spotify Technology S.A. (NYSE:SPOT) by 0.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 52,937 shares of the company’s stock after buying an additional 100 shares during the quarter. Glenmede Trust Co. NA’s holdings in Spotify Technology were worth $19,509,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Transcendent Capital Group LLC bought a new stake in shares of Spotify Technology during the second quarter valued at approximately $25,000. Benjamin Edwards Inc. boosted its position in Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the last quarter. Mather Group LLC. boosted its position in Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after buying an additional 99 shares during the last quarter. Asset Dedication LLC acquired a new stake in shares of Spotify Technology in the 2nd quarter valued at $35,000. Finally, Larson Financial Group LLC raised its position in shares of Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after acquiring an additional 33 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on SPOT. Macquarie lifted their price objective on Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Wells Fargo & Company lifted their price target on shares of Spotify Technology from $470.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group increased their price objective on shares of Spotify Technology from $430.00 to $490.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Pivotal Research lifted their target price on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Evercore ISI raised their price target on Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $421.69.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $475.34 on Thursday. The stock has a market capitalization of $94.62 billion, a price-to-earnings ratio of 129.17 and a beta of 1.56. The business has a 50-day moving average of $399.75 and a 200-day moving average of $348.05. Spotify Technology S.A. has a fifty-two week low of $179.66 and a fifty-two week high of $489.69.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data 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 company 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%. Spotify Technology’s revenue was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 EPS. On average, sell-side analysts expect that Spotify Technology S.A. will post 6.02 EPS for the current year.

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.