RFG Advisory LLC Has $891,000 Stake in Spotify Technology S.A. (NYSE:SPOT)

RFG Advisory LLC increased its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 10.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,993 shares of the company’s stock after buying an additional 188 shares during the quarter. RFG Advisory LLC’s holdings in Spotify Technology were worth $891,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SPOT. Aigen Investment Management LP lifted its holdings in shares of Spotify Technology by 42.4% during 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 during the period. Pathway Capital Management LP lifted its position in shares of Spotify Technology by 23.8% during the 3rd quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock worth $21,132,000 after buying an additional 11,042 shares during the last quarter. Perpetual Ltd boosted 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 in the last quarter. Covenant Asset Management LLC acquired a new position in Spotify Technology during the third quarter worth about $3,364,000. Finally, Kestra Investment Management LLC bought a new position in shares of Spotify Technology in the third quarter worth about $780,000. Institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SPOT. Piper Sandler upped their price objective on shares of Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Morgan Stanley increased their price target on Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. TD Cowen boosted their price target on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. Rosenblatt Securities upped their price target on shares of Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Canaccord Genuity Group increased their price target on Spotify Technology from $525.00 to $560.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $441.21.

Spotify Technology Trading Up 1.9 %

NYSE SPOT opened at $511.19 on Monday. The business has a fifty day simple moving average of $473.74 and a 200 day simple moving average of $396.25. Spotify Technology S.A. has a 12 month low of $210.34 and a 12 month high of $512.01. The firm has a market capitalization of $101.75 billion, a P/E ratio of 138.91 and a beta of 1.62.

Spotify Technology (NYSE:SPOT) last released 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 for the quarter, compared to the consensus estimate of $4.03 billion. During the same period in the previous year, the business earned $0.36 earnings per share. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. As a group, sell-side analysts predict that Spotify Technology S.A. will post 5.91 EPS for the current fiscal year.

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.