Fmr LLC Has $577.79 Million Holdings in Spotify Technology S.A. (NYSE:SPOT)

Fmr LLC lifted its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 23.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,567,818 shares of the company’s stock after buying an additional 297,035 shares during the period. Fmr LLC owned about 0.79% of Spotify Technology worth $577,788,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SPOT. Aigen Investment Management LP grew its stake in shares of Spotify Technology by 42.4% in the third quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock worth $3,612,000 after purchasing an additional 2,918 shares during the last quarter. Pathway Capital Management LP grew its stake in shares of Spotify Technology by 23.8% in the third quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock worth $21,132,000 after purchasing an additional 11,042 shares during the last quarter. Perpetual Ltd grew its stake in shares of Spotify Technology by 24.3% in the third quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock worth $279,965,000 after purchasing an additional 148,431 shares during the last quarter. Covenant Asset Management LLC bought a new stake in shares of Spotify Technology in the third quarter worth $3,364,000. Finally, Jag Capital Management LLC bought a new stake in Spotify Technology during the third quarter valued at $13,569,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Trading Down 0.3 %

Shares of SPOT opened at $475.24 on Friday. The firm’s 50-day moving average price is $402.06 and its 200-day moving average price is $348.93. The firm has a market capitalization of $94.60 billion, a price-to-earnings ratio of 129.14 and a beta of 1.56. Spotify Technology S.A. has a 1-year low of $179.66 and a 1-year high of $489.69.

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

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of research analyst reports. Piper Sandler upped their price target on shares of Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Benchmark upped their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. increased their price objective on shares of Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Rosenblatt Securities increased their price objective on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Macquarie increased their price objective on shares of Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $421.69.

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.