3,967 Shares in Spotify Technology $SPOT Acquired by Ownership Capital B.V.

Ownership Capital B.V. acquired a new stake in shares of Spotify Technology (NYSE:SPOT) during the third quarter, Holdings Channel.com reports. The fund acquired 3,967 shares of the company’s stock, valued at approximately $2,769,000. Spotify Technology accounts for 1.6% of Ownership Capital B.V.’s holdings, making the stock its 21st largest holding.

A number of other large investors have also added to or reduced their stakes in SPOT. Knuff & Co LLC purchased a new position in Spotify Technology in the 2nd quarter valued at about $27,000. Total Investment Management Inc. acquired a new stake in Spotify Technology during the 2nd quarter valued at approximately $29,000. Heartwood Wealth Advisors LLC purchased a new stake in Spotify Technology during the 3rd quarter worth approximately $27,000. Sound Income Strategies LLC raised its position in shares of Spotify Technology by 156.3% in the 2nd quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock valued at $31,000 after purchasing an additional 25 shares in the last quarter. Finally, Westfuller Advisors LLC acquired a new position in shares of Spotify Technology in the 3rd quarter valued at approximately $29,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Stock Down 0.2%

SPOT opened at $511.98 on Tuesday. The company’s 50-day moving average price is $566.93 and its 200 day moving average price is $642.28. Spotify Technology has a fifty-two week low of $475.01 and a fifty-two week high of $785.00. The firm has a market cap of $105.41 billion, a price-to-earnings ratio of 80.50, a price-to-earnings-growth ratio of 0.97 and a beta of 1.66.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SPOT shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Spotify Technology in a research report on Monday, December 29th. Wells Fargo & Company decreased their price objective on shares of Spotify Technology from $750.00 to $710.00 and set an “overweight” rating for the company in a report on Tuesday, January 13th. Benchmark cut their target price on shares of Spotify Technology from $860.00 to $760.00 and set a “buy” rating on the stock in a research note on Friday, January 16th. Citizens Jmp assumed coverage on Spotify Technology in a research note on Wednesday, December 17th. They issued a “market outperform” rating and a $800.00 price target for the company. Finally, Guggenheim lowered their price objective on Spotify Technology from $800.00 to $750.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Spotify Technology presently has an average rating of “Moderate Buy” and an average price target of $739.07.

Spotify Technology Company 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.