1,945 Shares in Spotify Technology S.A. (NYSE:SPOT) Acquired by Highland Capital Management LLC

Highland Capital Management LLC bought a new position in Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, HoldingsChannel.com reports. The fund bought 1,945 shares of the company’s stock, valued at approximately $870,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thrivent Financial for Lutherans lifted its holdings in Spotify Technology by 7.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 5,654 shares of the company’s stock valued at $1,774,000 after buying an additional 391 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Spotify Technology by 5.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,892 shares of the company’s stock valued at $594,000 after acquiring an additional 94 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Spotify Technology by 33.1% during the second quarter. Mackenzie Financial Corp now owns 3,056 shares of the company’s stock valued at $959,000 after acquiring an additional 760 shares in the last quarter. Algert Global LLC boosted its holdings in shares of Spotify Technology by 46.8% in the second quarter. Algert Global LLC now owns 1,494 shares of the company’s stock valued at $469,000 after purchasing an additional 476 shares during the period. Finally, Creative Planning grew its stake in Spotify Technology by 7.4% in the second quarter. Creative Planning now owns 6,233 shares of the company’s stock worth $1,956,000 after purchasing an additional 429 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SPOT shares. Canaccord Genuity Group lifted their target price on Spotify Technology from $525.00 to $560.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. TD Cowen upped their price objective on shares of Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. Morgan Stanley boosted their price target on shares of Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Barclays increased their price objective on shares of Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Benchmark reissued a “buy” rating and issued a $520.00 price objective on shares of Spotify Technology in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $449.79.

Spotify Technology Trading Up 2.2 %

Shares of NYSE:SPOT opened at $550.45 on Friday. Spotify Technology S.A. has a twelve month low of $213.31 and a twelve month high of $558.31. The company has a market cap of $109.57 billion, a PE ratio of 149.58 and a beta of 1.62. The company’s 50 day moving average is $477.67 and its 200 day moving average is $400.99.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data 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 business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The firm’s revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS. Equities research analysts predict that Spotify Technology S.A. will post 5.91 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.