Universal Beteiligungs und Servicegesellschaft mbH Buys 43,556 Shares of Spotify Technology $SPOT

Universal Beteiligungs und Servicegesellschaft mbH grew its stake in Spotify Technology (NYSE:SPOT) by 14.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 335,653 shares of the company’s stock after acquiring an additional 43,556 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.16% of Spotify Technology worth $234,286,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Helios Capital Management PTE. Ltd. increased its stake in shares of Spotify Technology by 56.3% during the third quarter. Helios Capital Management PTE. Ltd. now owns 7,500 shares of the company’s stock valued at $5,235,000 after buying an additional 2,700 shares during the period. Generali Asset Management SPA SGR grew its holdings in Spotify Technology by 30.9% during the 3rd quarter. Generali Asset Management SPA SGR now owns 68,023 shares of the company’s stock worth $46,692,000 after acquiring an additional 16,054 shares in the last quarter. Cynosure Group LLC purchased a new position in Spotify Technology during the 3rd quarter valued at about $2,862,000. Commonwealth Equity Services LLC raised its holdings in shares of Spotify Technology by 12.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 18,676 shares of the company’s stock valued at $13,036,000 after purchasing an additional 2,032 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Spotify Technology in the 2nd quarter worth approximately $18,877,000. 84.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SPOT. Weiss Ratings reiterated a “hold (c+)” rating on shares of Spotify Technology in a research note on Monday, December 29th. JPMorgan Chase & Co. increased their target price on Spotify Technology from $740.00 to $805.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. The Goldman Sachs Group lowered Spotify Technology from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $765.00 to $770.00 in a research report on Tuesday, September 30th. UBS Group decreased their price objective on Spotify Technology from $850.00 to $800.00 and set a “buy” rating for the company in a research note on Friday, January 9th. Finally, Pivotal Research cut their target price on Spotify Technology from $900.00 to $875.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $741.40.

Spotify Technology Price Performance

Spotify Technology stock opened at $510.37 on Wednesday. Spotify Technology has a 1-year low of $475.01 and a 1-year high of $785.00. The business has a fifty day moving average price of $577.78 and a 200-day moving average price of $648.37. The stock has a market capitalization of $105.08 billion, a price-to-earnings ratio of 80.25, a PEG ratio of 0.96 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 EPS 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 analysts’ expectations of $4.23 billion. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business posted $1.45 earnings per share. On average, equities research analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

About Spotify Technology

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.