Syon Capital LLC Buys 1,115 Shares of Spotify Technology $SPOT

Syon Capital LLC boosted its stake in shares of Spotify Technology (NYSE:SPOT) by 14.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,637 shares of the company’s stock after buying an additional 1,115 shares during the period. Syon Capital LLC’s holdings in Spotify Technology were worth $6,029,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of SPOT. Knuff & Co LLC acquired a new stake in Spotify Technology during the 2nd quarter valued at approximately $27,000. Heartwood Wealth Advisors LLC purchased a new position in Spotify Technology in the 3rd quarter valued at $27,000. Greykasell Wealth Strategies Inc. lifted its stake in Spotify Technology by 3,800.0% in the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 38 shares in the last quarter. Total Investment Management Inc. purchased a new stake in shares of Spotify Technology in the second quarter valued at about $29,000. Finally, Westfuller Advisors LLC acquired a new stake in Spotify Technology during the third quarter worth $29,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SPOT shares. Rosenblatt Securities lowered their price target on shares of Spotify Technology from $700.00 to $670.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Cantor Fitzgerald lowered their price objective on Spotify Technology from $615.00 to $525.00 and set a “neutral” rating for the company in a research report on Wednesday, February 11th. Wall Street Zen upgraded Spotify Technology from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Benchmark reduced their price target on shares of Spotify Technology from $860.00 to $760.00 and set a “buy” rating on the stock in a research report on Friday, January 16th. Finally, DZ Bank raised Spotify Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Spotify Technology has an average rating of “Moderate Buy” and an average target price of $706.42.

Spotify Technology Price Performance

Shares of SPOT opened at $462.69 on Wednesday. The company has a market capitalization of $95.24 billion, a price-to-earnings ratio of 48.00, a P/E/G ratio of 1.08 and a beta of 1.66. The business’s 50-day moving average is $528.86 and its 200-day moving average is $618.16. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week high of $785.00.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, February 10th. The company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.16 by $2.00. Spotify Technology had a net margin of 13.16% and a return on equity of 31.35%. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the prior year, the firm earned $1.88 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. Equities research analysts expect that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

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.