First Hawaiian Bank Purchases 222 Shares of Spotify Technology S.A. (NYSE:SPOT)

First Hawaiian Bank grew its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 5.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,098 shares of the company’s stock after purchasing an additional 222 shares during the period. First Hawaiian Bank’s holdings in Spotify Technology were worth $1,833,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. National Bank of Canada FI raised its stake in Spotify Technology by 3.0% in the second quarter. National Bank of Canada FI now owns 2,489 shares of the company’s stock valued at $781,000 after purchasing an additional 73 shares in the last quarter. Private Advisor Group LLC raised its position in shares of Spotify Technology by 118.3% during the 2nd quarter. Private Advisor Group LLC now owns 3,023 shares of the company’s stock valued at $949,000 after buying an additional 1,638 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Spotify Technology during the 2nd quarter worth $104,000. Ashton Thomas Private Wealth LLC purchased a new position in Spotify Technology in the second quarter worth $39,000. Finally, Wedbush Securities Inc. purchased a new position in Spotify Technology in the second quarter worth $428,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of NYSE:SPOT opened at $479.82 on Thursday. The firm has a market capitalization of $95.51 billion, a P/E ratio of 130.39 and a beta of 1.62. The stock has a 50 day moving average price of $456.74 and a 200-day moving average price of $382.14. Spotify Technology S.A. has a 52-week low of $191.88 and a 52-week high of $506.47.

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 return on equity of 19.07% and a net margin of 4.66%. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter last year, the company posted $0.36 EPS. Spotify Technology’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, equities analysts forecast that Spotify Technology S.A. will post 6.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SPOT has been the subject of several research analyst reports. Phillip Securities reaffirmed an “accumulate” rating and set a $485.00 price target (up previously from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. Morgan Stanley boosted their target price on Spotify Technology from $430.00 to $460.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. KeyCorp increased their price target on shares of Spotify Technology from $490.00 to $520.00 and gave the company an “overweight” 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 note on Wednesday, November 13th. Finally, Benchmark increased their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $432.11.

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.