Groupe la Francaise Has $18.43 Million Holdings in Spotify Technology $SPOT

Groupe la Francaise grew its stake in Spotify Technology (NYSE:SPOT) by 4.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,127 shares of the company’s stock after purchasing an additional 958 shares during the period. Groupe la Francaise’s holdings in Spotify Technology were worth $18,432,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Joel Isaacson & Co. LLC grew its position in Spotify Technology by 1.0% during the second quarter. Joel Isaacson & Co. LLC now owns 1,551 shares of the company’s stock worth $1,190,000 after buying an additional 15 shares in the last quarter. Ignite Planners LLC lifted its position in shares of Spotify Technology by 2.4% in the 2nd quarter. Ignite Planners LLC now owns 637 shares of the company’s stock worth $489,000 after acquiring an additional 15 shares during the period. Stonekeep Investments LLC grew its holdings in shares of Spotify Technology by 2.1% during the 2nd quarter. Stonekeep Investments LLC now owns 773 shares of the company’s stock worth $593,000 after purchasing an additional 16 shares in the last quarter. Moody National Bank Trust Division increased its position in shares of Spotify Technology by 0.5% during the second quarter. Moody National Bank Trust Division now owns 2,931 shares of the company’s stock valued at $2,249,000 after purchasing an additional 16 shares during the period. Finally, Citizens Financial Group Inc. RI increased its position in shares of Spotify Technology by 3.7% during the first quarter. Citizens Financial Group Inc. RI now owns 477 shares of the company’s stock valued at $262,000 after purchasing an additional 17 shares during the period. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Down 0.5%

Shares of SPOT stock opened at $576.05 on Wednesday. The company has a market capitalization of $118.60 billion, a P/E ratio of 90.57, a P/E/G ratio of 1.91 and a beta of 1.66. Spotify Technology has a 12-month low of $443.21 and a 12-month high of $785.00. The firm has a 50-day moving average price of $651.53 and a 200 day moving average price of $681.57.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $3.83 earnings per share for the quarter, topping the consensus estimate of $1.87 by $1.96. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. The firm had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $4.23 billion. During the same period in the prior year, the firm earned $1.45 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, research analysts expect that Spotify Technology will post 10.3 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on SPOT shares. JPMorgan Chase & Co. raised their target price on Spotify Technology from $740.00 to $805.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. Citigroup raised their price objective on shares of Spotify Technology from $715.00 to $750.00 and gave the stock a “neutral” rating in a report on Tuesday, September 9th. Pivotal Research decreased their target price on shares of Spotify Technology from $900.00 to $875.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Wall Street Zen raised shares of Spotify Technology from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Argus assumed coverage on shares of Spotify Technology in a research note on Monday, September 29th. They set a “buy” rating and a $845.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $758.86.

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.