Spotify Technology S.A. (NYSE:SPOT) Shares Bought by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC raised its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 38.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,074 shares of the company’s stock after purchasing an additional 301 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Spotify Technology were worth $396,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Impax Asset Management Group plc increased its holdings in shares of Spotify Technology by 36.5% in the third quarter. Impax Asset Management Group plc now owns 3,381 shares of the company’s stock valued at $1,246,000 after purchasing an additional 904 shares during the last quarter. ING Groep NV grew its holdings in Spotify Technology by 40.0% in the 3rd quarter. ING Groep NV now owns 67,632 shares of the company’s stock valued at $24,924,000 after buying an additional 19,332 shares in the last quarter. Aubrey Capital Management Ltd acquired a new stake in shares of Spotify Technology in the 3rd quarter worth $3,574,000. Zions Bancorporation N.A. raised its holdings in shares of Spotify Technology by 5.8% during the 3rd quarter. Zions Bancorporation N.A. now owns 1,170 shares of the company’s stock worth $431,000 after acquiring an additional 64 shares during the period. Finally, Parametrica Management Ltd purchased a new position in shares of Spotify Technology during the 3rd quarter worth $545,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SPOT shares. Morgan Stanley raised their price objective on shares of Spotify Technology from $430.00 to $460.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Pivotal Research raised their price target on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Barclays upped their price objective on Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. KeyCorp raised their target price on Spotify Technology from $490.00 to $520.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group upped their price target on Spotify Technology from $430.00 to $490.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $421.69.

Spotify Technology Price Performance

SPOT opened at $472.50 on Friday. The business has a fifty day moving average price of $388.87 and a 200 day moving average price of $342.73. Spotify Technology S.A. has a 12 month low of $178.73 and a 12 month high of $489.69. The stock has a market capitalization of $94.05 billion, a price-to-earnings ratio of 128.40 and a beta of 1.56.

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

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.