Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lifted its stake in Spotify Technology S.A. (NYSE:SPOT) by 20.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,600 shares of the company’s stock after purchasing an additional 435 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Spotify Technology were worth $816,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its holdings in Spotify Technology by 86.0% in the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after buying an additional 43 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Spotify Technology during the 2nd quarter valued at about $25,000. Mather Group LLC. grew its holdings in shares of Spotify Technology by 9,900.0% in the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after purchasing an additional 99 shares during the period. FinTrust Capital Advisors LLC increased its position in Spotify Technology by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. Finally, Asset Dedication LLC purchased a new position in Spotify Technology during the second quarter worth about $35,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SPOT shares. JPMorgan Chase & Co. raised their price target on shares of Spotify Technology from $375.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Redburn Atlantic reissued a “sell” rating and set a $230.00 target price on shares of Spotify Technology in a research note on Wednesday, July 10th. Pivotal Research upped their price target on Spotify Technology from $460.00 to $510.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Macquarie raised their price objective on Spotify Technology from $345.00 to $395.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Finally, TD Cowen upped their target price on shares of Spotify Technology from $273.00 to $356.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $359.14.

Spotify Technology Trading Down 1.2 %

Shares of NYSE:SPOT opened at $379.25 on Friday. Spotify Technology S.A. has a 52 week low of $145.76 and a 52 week high of $389.23. The company’s 50 day moving average is $336.25 and its two-hundred day moving average is $309.74. The company has a market cap of $72.13 billion, a PE ratio of -566.04 and a beta of 1.57. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31.

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. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.82 billion. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. Spotify Technology’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.69) earnings per share. Equities analysts predict that Spotify Technology S.A. will post 6.26 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.