390 Shares in Spotify Technology S.A. (NYSE:SPOT) Bought by Berbice Capital Management LLC

Berbice Capital Management LLC purchased a new position in Spotify Technology S.A. (NYSE:SPOT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 390 shares of the company’s stock, valued at approximately $174,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WCM Investment Management LLC increased its holdings in Spotify Technology by 18.5% in the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after buying an additional 605,755 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Spotify Technology by 36,910.0% in the 3rd quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock worth $128,073,000 after buying an additional 346,585 shares in the last quarter. FMR LLC increased its holdings in Spotify Technology by 23.4% in the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after buying an additional 297,035 shares in the last quarter. Janus Henderson Group PLC boosted its position in Spotify Technology by 3,948.3% in the third quarter. Janus Henderson Group PLC now owns 264,233 shares of the company’s stock worth $97,329,000 after purchasing an additional 257,706 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Spotify Technology by 179.0% in the third quarter. Assenagon Asset Management S.A. now owns 380,214 shares of the company’s stock worth $140,120,000 after purchasing an additional 243,933 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SPOT. Bank of America lifted their price objective on Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Benchmark reissued a “buy” rating and set a $520.00 target price on shares of Spotify Technology in a research report on Thursday, January 16th. Pivotal Research boosted their target price on Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $340.00 price objective on shares of Spotify Technology in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $441.21.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $504.44 on Friday. The business’s 50-day moving average is $472.22 and its 200 day moving average is $393.55. Spotify Technology S.A. has a 1 year low of $210.34 and a 1 year high of $510.84. The firm has a market capitalization of $100.41 billion, a P/E ratio of 136.74 and a beta of 1.62.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $4.03 billion. During the same period in the prior year, the company earned $0.36 earnings per share. The company’s quarterly revenue was up 18.8% on a year-over-year basis. On average, analysts expect that Spotify Technology S.A. will post 5.91 EPS for the current year.

About Spotify Technology

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.