336 Shares in Spotify Technology S.A. (NYSE:SPOT) Acquired by Matrix Trust Co

Matrix Trust Co purchased a new position in shares of Spotify Technology S.A. (NYSE:SPOTFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 336 shares of the company’s stock, valued at approximately $150,000.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SPOT shares. Morgan Stanley increased their target price on shares of Spotify Technology from $430.00 to $460.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft boosted their target price on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. KeyCorp increased their price target on Spotify Technology from $520.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday. Pivotal Research boosted their price objective on Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Macquarie increased their target price on Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $433.36.

View Our Latest Report on SPOT

Spotify Technology Trading Down 0.6 %

Shares of Spotify Technology stock opened at $456.85 on Tuesday. The company’s 50-day moving average price is $461.72 and its 200-day moving average price is $385.72. The company has a market cap of $90.94 billion, a price-to-earnings ratio of 124.14 and a beta of 1.62. Spotify Technology S.A. has a 12-month low of $191.88 and a 12-month high of $506.47.

Spotify Technology (NYSE:SPOTGet Free Report) last posted its quarterly earnings data 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 the consensus estimate of $4.03 billion. During the same period in the prior year, the business posted $0.36 EPS. Spotify Technology’s quarterly revenue was up 18.8% on a year-over-year basis. On average, sell-side analysts predict that Spotify Technology S.A. will post 6.02 earnings per share for the current year.

Spotify Technology Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

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