Park National Corp OH Purchases 31 Shares of Spotify Technology S.A. (NYSE:SPOT)

Park National Corp OH raised its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 793 shares of the company’s stock after acquiring an additional 31 shares during the period. Park National Corp OH’s holdings in Spotify Technology were worth $355,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SPOT. Aigen Investment Management LP boosted its holdings in Spotify Technology by 42.4% during the 3rd quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock valued at $3,612,000 after acquiring an additional 2,918 shares during the period. Pathway Capital Management LP boosted its stake in shares of Spotify Technology by 23.8% during the third quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock valued at $21,132,000 after purchasing an additional 11,042 shares during the period. Perpetual Ltd grew its holdings in shares of Spotify Technology by 24.3% in the third quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock worth $279,965,000 after purchasing an additional 148,431 shares during the last quarter. Covenant Asset Management LLC purchased a new position in shares of Spotify Technology in the third quarter worth $3,364,000. Finally, Jag Capital Management LLC bought a new stake in Spotify Technology during the 3rd quarter valued at $13,569,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SPOT shares. KeyCorp raised their price target on shares of Spotify Technology from $490.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. TD Cowen increased their price objective on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their target price on Spotify Technology from $425.00 to $530.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Phillip Securities reaffirmed an “accumulate” rating and issued a $485.00 price target (up previously from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. Finally, Canaccord Genuity Group boosted their price objective on shares of Spotify Technology from $525.00 to $560.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $432.11.

Spotify Technology Stock Performance

Shares of NYSE SPOT opened at $479.82 on Thursday. The firm’s 50 day moving average price is $456.74 and its 200-day moving average price is $382.14. Spotify Technology S.A. has a 52-week low of $191.88 and a 52-week high of $506.47. The company has a market cap of $95.51 billion, a PE ratio of 130.39 and a beta of 1.62.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.30). The business 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%. The business’s revenue was up 18.8% compared to the same quarter last year. During the same period last year, the company posted $0.36 earnings per share. On average, analysts forecast that Spotify Technology S.A. will post 6.02 earnings per share for the current fiscal 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.