Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 27.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,736 shares of the company’s stock after acquiring an additional 1,241 shares during the period. Ritholtz Wealth Management’s holdings in Spotify Technology were worth $2,566,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. SYSTM Wealth Solutions LLC acquired a new stake in Spotify Technology during the 2nd quarter worth $104,000. Mercer Global Advisors Inc. ADV increased its position in shares of Spotify Technology by 20.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 2,600 shares of the company’s stock worth $816,000 after purchasing an additional 435 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Spotify Technology by 5.9% in the 2nd quarter. Amalgamated Bank now owns 9,812 shares of the company’s stock valued at $3,079,000 after purchasing an additional 548 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Spotify Technology by 11.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,728 shares of the company’s stock valued at $3,642,000 after purchasing an additional 1,212 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of Spotify Technology by 400.2% in the 2nd quarter. Hsbc Holdings PLC now owns 94,808 shares of the company’s stock valued at $29,590,000 after purchasing an additional 75,855 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

SPOT opened at $486.07 on Friday. Spotify Technology S.A. has a 1-year low of $200.81 and a 1-year high of $506.47. The stock has a market cap of $96.75 billion, a P/E ratio of 132.08 and a beta of 1.62. The stock’s 50 day simple moving average is $467.11 and its 200 day simple moving average is $388.20.

Spotify Technology (NYSE:SPOT) last announced its quarterly 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). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the prior year, the business earned $0.36 EPS. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. Research analysts expect that Spotify Technology S.A. will post 5.96 EPS for the current fiscal year.

Analyst Ratings Changes

SPOT has been the subject of a number of research reports. Piper Sandler boosted their price objective on Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $340.00 price target on shares of Spotify Technology in a research report on Monday, October 7th. Rosenblatt Securities raised 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. Bank of America upped their target price on shares of Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Macquarie increased their target price on shares of Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $441.21.

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.