Spotify Technology S.A. (NYSE:SPOT) Shares Bought by Signaturefd LLC

Signaturefd LLC lifted its position in Spotify Technology S.A. (NYSE:SPOT) by 11.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,911 shares of the company’s stock after acquiring an additional 193 shares during the period. Signaturefd LLC’s holdings in Spotify Technology were worth $704,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in SPOT. Larson Financial Group LLC grew its position in shares of Spotify Technology by 86.0% in the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after acquiring an additional 43 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Spotify Technology in the 2nd quarter worth approximately $25,000. Benjamin Edwards Inc. grew its position in shares of Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Mather Group LLC. grew its position in shares of Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after acquiring an additional 99 shares in the last quarter. Finally, FinTrust Capital Advisors LLC grew its position in shares of Spotify Technology by 400.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock worth $33,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $376.72 on Friday. The business’s 50 day moving average price is $355.37 and its two-hundred day moving average price is $324.84. The company has a market cap of $71.65 billion, a PE ratio of -562.27 and a beta of 1.58. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31. Spotify Technology S.A. has a twelve month low of $155.00 and a twelve month high of $389.48.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, July 23rd. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.08 by $0.25. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the prior year, the business earned ($1.69) earnings per share. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, analysts predict that Spotify Technology S.A. will post 6.22 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. KeyCorp boosted their price objective on Spotify Technology from $440.00 to $490.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Bank of America boosted their price objective on Spotify Technology from $370.00 to $380.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Morgan Stanley boosted their price objective on Spotify Technology from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday. UBS Group boosted their price objective on Spotify Technology from $375.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, Jefferies Financial Group restated a “buy” rating and set a $385.00 price objective (up previously from $242.00) on shares of Spotify Technology in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $363.24.

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.