Larson Financial Group LLC Has $36,000 Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Larson Financial Group LLC increased its stake in Spotify Technology S.A. (NYSE:SPOTFree Report) by 51.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97 shares of the company’s stock after purchasing an additional 33 shares during the quarter. Larson Financial Group LLC’s holdings in Spotify Technology were worth $36,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. WCM Investment Management LLC lifted its holdings in shares of Spotify Technology by 18.5% in the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after purchasing an additional 605,755 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Spotify Technology by 36,910.0% in the 3rd quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock worth $128,073,000 after acquiring an additional 346,585 shares in the last quarter. Sei Investments Co. boosted its position in Spotify Technology by 106.8% during the 2nd 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 during the period. Assenagon Asset Management S.A. grew its stake in Spotify Technology by 179.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 380,214 shares of the company’s stock valued at $140,120,000 after acquiring an additional 243,933 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Spotify Technology in the 2nd quarter valued at about $58,497,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SPOT shares. JPMorgan Chase & Co. boosted their price objective on shares of Spotify Technology from $425.00 to $530.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. TD Cowen upped their price target on shares of Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. Piper Sandler lifted their price objective on Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Evercore ISI boosted their target price on Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Benchmark raised their price target on Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. One research 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’s stock. According to data from MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $421.69.

Read Our Latest Stock Analysis on Spotify Technology

Spotify Technology Price Performance

Shares of Spotify Technology stock opened at $476.96 on Friday. The company has a market cap of $94.94 billion, a PE ratio of 129.61 and a beta of 1.56. The firm has a fifty day moving average price of $404.30 and a two-hundred day moving average price of $350.65. 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:SPOTGet Free Report) last released its earnings results 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). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the previous year, the business posted $0.36 EPS. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. Analysts expect that Spotify Technology S.A. will post 6.02 earnings per share for the current fiscal year.

About Spotify Technology

(Free Report)

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.

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Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

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