755 Shares in Spotify Technology S.A. (NYSE:SPOT) Acquired by Aprio Wealth Management LLC

Aprio Wealth Management LLC bought a new stake in Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 755 shares of the company’s stock, valued at approximately $338,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SPOT. WCM Investment Management LLC increased its position in Spotify Technology by 18.5% in the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after purchasing an additional 605,755 shares during the period. International Assets Investment Management LLC raised its stake in shares of Spotify Technology by 36,910.0% during the third quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock worth $128,073,000 after buying an additional 346,585 shares during the last quarter. Sei Investments Co. lifted its holdings in Spotify Technology by 106.8% in the second quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock valued at $202,828,000 after buying an additional 333,782 shares during the period. FMR LLC boosted its stake in Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after acquiring an additional 297,035 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Spotify Technology by 3,948.3% in the third quarter. Janus Henderson Group PLC now owns 264,233 shares of the company’s stock valued at $97,329,000 after acquiring an additional 257,706 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of SPOT opened at $456.85 on Tuesday. The firm has a 50-day moving average of $461.72 and a 200-day moving average of $385.72. The company has a market cap of $90.94 billion, a PE ratio of 124.14 and a beta of 1.62. Spotify Technology S.A. has a one year low of $191.88 and a one year high of $506.47.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 EPS. Analysts expect that Spotify Technology S.A. will post 6.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of analyst reports. Phillip Securities reissued 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. JPMorgan Chase & Co. increased their target price on shares of Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Morgan Stanley raised 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. Cantor Fitzgerald reiterated a “neutral” rating and set a $340.00 price objective on shares of Spotify Technology in a report on Monday, October 7th. Finally, Barclays increased their target price on Spotify Technology from $385.00 to $475.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $433.36.

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.