Spotify Technology $SPOT Shares Purchased by Annis Gardner Whiting Capital Advisors LLC

Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Spotify Technology (NYSE:SPOT) by 9,592.3% during the third quarter, Holdings Channel.com reports. The firm owned 1,260 shares of the company’s stock after buying an additional 1,247 shares during the quarter. Annis Gardner Whiting Capital Advisors LLC’s holdings in Spotify Technology were worth $879,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SPOT. Helios Capital Management PTE. Ltd. grew its stake in Spotify Technology by 56.3% during the 3rd quarter. Helios Capital Management PTE. Ltd. now owns 7,500 shares of the company’s stock worth $5,235,000 after purchasing an additional 2,700 shares in the last quarter. Generali Asset Management SPA SGR raised its position in Spotify Technology by 30.9% in the 3rd quarter. Generali Asset Management SPA SGR now owns 68,023 shares of the company’s stock valued at $46,692,000 after purchasing an additional 16,054 shares in the last quarter. Cynosure Group LLC purchased a new position in shares of Spotify Technology in the 3rd quarter valued at about $2,862,000. Ownership Capital B.V. acquired a new position in shares of Spotify Technology during the third quarter worth about $2,769,000. Finally, Commonwealth Equity Services LLC grew its position in shares of Spotify Technology by 12.2% during the third quarter. Commonwealth Equity Services LLC now owns 18,676 shares of the company’s stock worth $13,036,000 after buying an additional 2,032 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Down 0.5%

SPOT opened at $509.25 on Thursday. The firm has a market cap of $104.85 billion, a price-to-earnings ratio of 80.07, a price-to-earnings-growth ratio of 0.98 and a beta of 1.66. Spotify Technology has a 52 week low of $475.01 and a 52 week high of $785.00. The business’s 50 day moving average is $562.22 and its two-hundred day moving average is $639.98.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on SPOT shares. Pivotal Research reduced their target price on shares of Spotify Technology from $900.00 to $875.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Rosenblatt Securities reduced their price objective on shares of Spotify Technology from $700.00 to $670.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Wall Street Zen upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. UBS Group dropped their target price on Spotify Technology from $850.00 to $800.00 and set a “buy” rating on the stock in a report on Friday, January 9th. Finally, DZ Bank raised Spotify Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $730.94.

About Spotify Technology

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.