Virtu Financial LLC Makes New $1.78 Million Investment in Spotify Technology S.A. (NYSE:SPOT)

Virtu Financial LLC bought a new stake in Spotify Technology S.A. (NYSE:SPOT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,835 shares of the company’s stock, valued at approximately $1,782,000.

A number of other large investors also recently added to or reduced their stakes in the company. M&T Bank Corp grew its holdings in shares of Spotify Technology by 5.5% in the third quarter. M&T Bank Corp now owns 26,991 shares of the company’s stock valued at $9,947,000 after purchasing an additional 1,395 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Spotify Technology in the 3rd quarter valued at about $33,000. Virtue Capital Management LLC purchased a new position in Spotify Technology in the third quarter worth approximately $216,000. Coldstream Capital Management Inc. increased its position in shares of Spotify Technology by 15.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,584 shares of the company’s stock valued at $591,000 after purchasing an additional 210 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Spotify Technology by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 224,209 shares of the company’s stock valued at $82,628,000 after purchasing an additional 14,426 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SPOT shares. Wells Fargo & Company upped their price objective on Spotify Technology from $470.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group boosted their price target on shares of Spotify Technology from $525.00 to $560.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. The Goldman Sachs Group upped their price objective on shares of Spotify Technology from $430.00 to $490.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Pivotal Research increased their price objective on Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, KeyCorp raised their target price on shares of Spotify Technology from $490.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $429.96.

Spotify Technology Trading Up 0.7 %

SPOT stock opened at $480.13 on Friday. The company has a market cap of $95.57 billion, a price-to-earnings ratio of 130.47 and a beta of 1.61. The firm has a 50 day moving average of $422.27 and a 200-day moving average of $360.96. Spotify Technology S.A. has a 12-month low of $185.37 and a 12-month high of $506.47.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the prior year, the business posted $0.36 EPS. The business’s revenue was up 18.8% on a year-over-year basis. Sell-side analysts forecast that Spotify Technology S.A. will post 6.02 earnings per share for the current fiscal 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.