Spotify Technology S.A. (NYSE:SPOT) Position Boosted by NBC Securities Inc.

NBC Securities Inc. increased its position in Spotify Technology S.A. (NYSE:SPOT) by 864.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 482 shares of the company’s stock after purchasing an additional 432 shares during the period. NBC Securities Inc.’s holdings in Spotify Technology were worth $177,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. GQG Partners LLC bought a new stake in shares of Spotify Technology in the 1st quarter valued at approximately $610,040,000. Swedbank AB bought a new stake in Spotify Technology during the first quarter valued at $198,663,000. Sei Investments Co. raised its holdings in shares of Spotify Technology by 106.8% during the second quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock worth $202,828,000 after purchasing an additional 333,782 shares during the period. Castle Hook Partners LP bought a new position in shares of Spotify Technology in the 1st quarter worth about $60,870,000. Finally, Bamco Inc. NY lifted its position in shares of Spotify Technology by 28.3% in the 1st quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock worth $228,164,000 after buying an additional 190,931 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

SPOT has been the topic of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Spotify Technology from $375.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Morgan Stanley increased their price target on Spotify Technology from $370.00 to $400.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Redburn Atlantic restated a “sell” rating and set a $230.00 price objective on shares of Spotify Technology in a research report on Wednesday, July 10th. KeyCorp increased their target price on Spotify Technology from $440.00 to $490.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $340.00 price target on shares of Spotify Technology in a research report on Monday, October 7th. One equities research 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $362.21.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $378.88 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market capitalization of $75.42 billion, a PE ratio of 154.64 and a beta of 1.58. The stock has a fifty day moving average of $352.57 and a 200-day moving average of $323.08. Spotify Technology S.A. has a one year low of $145.76 and a one year high of $389.23.

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

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.