3,238 Shares in Spotify Technology $SPOT Bought by HWG Holdings LP

HWG Holdings LP purchased a new position in shares of Spotify Technology (NYSE:SPOT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,238 shares of the company’s stock, valued at approximately $2,260,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SPOT. Norges Bank acquired a new stake in Spotify Technology in the 2nd quarter valued at about $768,915,000. Axiom Investors LLC DE lifted its position in shares of Spotify Technology by 216.8% in the first quarter. Axiom Investors LLC DE now owns 719,682 shares of the company’s stock valued at $395,847,000 after buying an additional 492,504 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Spotify Technology by 22.7% during the 2nd quarter. Fisher Asset Management LLC now owns 2,489,013 shares of the company’s stock worth $1,909,920,000 after acquiring an additional 460,115 shares during the period. Bessemer Group Inc. boosted its stake in shares of Spotify Technology by 215.3% during the 2nd quarter. Bessemer Group Inc. now owns 505,329 shares of the company’s stock worth $387,758,000 after acquiring an additional 345,048 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Spotify Technology by 39.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,178,907 shares of the company’s stock worth $648,434,000 after acquiring an additional 336,162 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Down 0.6%

NYSE SPOT opened at $578.65 on Tuesday. The firm has a 50-day moving average price of $618.72 and a two-hundred day moving average price of $673.18. Spotify Technology has a 12-month low of $443.21 and a 12-month high of $785.00. The company has a market capitalization of $119.14 billion, a P/E ratio of 90.98, a P/E/G ratio of 1.90 and a beta of 1.66.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $1.96. The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.23 billion. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.45 earnings per share. Equities analysts expect that Spotify Technology will post 10.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Citigroup raised their price target on Spotify Technology from $715.00 to $750.00 and gave the company a “neutral” rating in a report on Tuesday, September 9th. Pivotal Research cut their target price on shares of Spotify Technology from $900.00 to $875.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Erste Group Bank downgraded shares of Spotify Technology from a “buy” rating to a “hold” rating in a report on Friday, December 5th. BNP Paribas upgraded shares of Spotify Technology to a “strong-buy” rating in a research note on Tuesday, September 16th. Finally, Barclays cut their price objective on shares of Spotify Technology from $750.00 to $700.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $760.23.

Spotify Technology Profile

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.