Axiom Advisory LLC Grows Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Axiom Advisory LLC grew its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,840 shares of the company’s stock after buying an additional 60 shares during the period. Axiom Advisory LLC’s holdings in Spotify Technology were worth $1,415,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Transcendent Capital Group LLC bought a new position in Spotify Technology during the 2nd quarter worth approximately $25,000. Benjamin Edwards Inc. increased its holdings in shares of Spotify Technology by 214.8% in the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after buying an additional 58 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Spotify Technology by 86.0% in the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after buying an additional 43 shares during the period. Mather Group LLC. raised its position in Spotify Technology by 9,900.0% during the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after buying an additional 99 shares during the period. Finally, Asset Dedication LLC acquired a new stake in shares of Spotify Technology during the 2nd quarter valued at $35,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Trading Up 2.1 %

Shares of SPOT stock opened at $370.43 on Wednesday. The company’s 50-day moving average price is $345.28 and its 200-day moving average price is $316.59. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. The stock has a market cap of $70.46 billion, a price-to-earnings ratio of -552.88 and a beta of 1.58. Spotify Technology S.A. has a twelve month low of $145.76 and a twelve month high of $389.23.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.25. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the previous year, the business earned ($1.69) EPS. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. As a group, equities analysts predict that Spotify Technology S.A. will post 6.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SPOT shares. Pivotal Research raised their price objective on Spotify Technology from $460.00 to $510.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. DZ Bank upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price target on the stock in a research report on Wednesday, July 24th. KeyCorp raised their price target on shares of Spotify Technology from $420.00 to $440.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Cantor Fitzgerald restated a “neutral” rating and set a $340.00 target price on shares of Spotify Technology in a research report on Monday. Finally, Barclays upped their target price on shares of Spotify Technology from $350.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $359.14.

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.