Rockingstone Advisors LLC Has $4.02 Million Holdings in Spotify Technology S.A. (NYSE:SPOT)

Rockingstone Advisors LLC increased its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 0.5% during the fourth quarter, HoldingsChannel reports. The fund owned 8,978 shares of the company’s stock after buying an additional 45 shares during the period. Spotify Technology comprises about 1.8% of Rockingstone Advisors LLC’s investment portfolio, making the stock its 17th largest position. Rockingstone Advisors LLC’s holdings in Spotify Technology were worth $4,017,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Prestige Wealth Management Group LLC bought a new stake in Spotify Technology in the 3rd quarter valued at approximately $26,000. Benjamin Edwards Inc. raised its holdings in shares of Spotify Technology by 214.8% in the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Spotify Technology in the third quarter worth $33,000. Larson Financial Group LLC boosted its holdings in 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 purchasing an additional 33 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new position in Spotify Technology in the third quarter valued at $40,000. 84.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays boosted their price target on shares of Spotify Technology from $385.00 to $475.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Phillip Securities reissued an “accumulate” rating and set a $485.00 price target (up from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. Morgan Stanley boosted their price target on Spotify Technology from $430.00 to $460.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. TD Cowen increased their price objective on Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a report on Wednesday, November 13th. Finally, Benchmark boosted their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and a consensus price target of $438.36.

Spotify Technology Price Performance

SPOT stock opened at $489.56 on Thursday. The business’s fifty day moving average price is $463.33 and its two-hundred day moving average price is $386.77. Spotify Technology S.A. has a fifty-two week low of $191.88 and a fifty-two week high of $506.47. The stock has a market capitalization of $97.45 billion, a price-to-earnings ratio of 133.03 and a beta of 1.62.

Spotify Technology (NYSE:SPOT) last posted 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). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The business 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 earned $0.36 EPS. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. Research analysts expect that Spotify Technology S.A. will post 5.96 EPS for the current 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.