CreativeOne Wealth LLC Boosts Stock Position in Spotify Technology S.A. (NYSE:SPOT)

CreativeOne Wealth LLC lifted its position in Spotify Technology S.A. (NYSE:SPOT) by 40.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,669 shares of the company’s stock after purchasing an additional 478 shares during the quarter. CreativeOne Wealth LLC’s holdings in Spotify Technology were worth $615,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Transcendent Capital Group LLC acquired a new stake in Spotify Technology during the 2nd quarter valued at approximately $25,000. Benjamin Edwards Inc. lifted its position in Spotify Technology by 214.8% during the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Larson Financial Group LLC boosted its holdings in Spotify Technology by 51.6% in the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after purchasing an additional 33 shares during the last quarter. Mather Group LLC. boosted its holdings in Spotify Technology by 9,900.0% in the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after purchasing an additional 99 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in Spotify Technology during the 3rd quarter worth about $40,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Rosenblatt Securities upped their target price on Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Piper Sandler upped their price objective on Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Phillip Securities restated an “accumulate” rating and set a $485.00 price target (up previously from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. KeyCorp upped their price objective 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. Finally, Barclays lifted their price target on Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $421.69.

Spotify Technology Trading Up 0.4 %

Shares of SPOT opened at $476.96 on Friday. The firm has a 50-day moving average price of $404.30 and a 200 day moving average price of $350.65. Spotify Technology S.A. has a 12-month low of $179.66 and a 12-month high of $489.69. The firm has a market capitalization of $94.94 billion, a P/E ratio of 129.61 and a beta of 1.56.

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