Whittier Trust Co. Purchases New Stake in Spotify Technology S.A. (NYSE:SPOT)

Whittier Trust Co. purchased a new position in shares of Spotify Technology S.A. (NYSE:SPOT) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 1,759 shares of the company’s stock, valued at approximately $648,000.

Several other large investors also recently bought and sold shares of SPOT. Clearbridge Investments LLC grew its stake in shares of Spotify Technology by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 6,892 shares of the company’s stock valued at $1,819,000 after buying an additional 38 shares during the period. Cigna Investments Inc. New boosted its stake in shares of Spotify Technology by 3.3% during the 2nd quarter. Cigna Investments Inc. New now owns 1,260 shares of the company’s stock valued at $395,000 after buying an additional 40 shares during the last quarter. Moody Lynn & Lieberson LLC boosted its stake in Spotify Technology by 0.6% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 6,843 shares of the company’s stock valued at $2,147,000 after acquiring an additional 40 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Spotify Technology by 86.0% during the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after purchasing an additional 43 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Spotify Technology by 4.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 981 shares of the company’s stock worth $337,000 after acquiring an additional 43 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Down 2.0 %

NYSE SPOT opened at $379.89 on Thursday. The stock has a market capitalization of $75.62 billion, a P/E ratio of 155.06 and a beta of 1.58. Spotify Technology S.A. has a 52 week low of $155.00 and a 52 week high of $389.48. 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 stock has a fifty day moving average of $355.37 and a 200-day moving average of $324.84.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $3.82 billion. During the same period last year, the company earned ($1.69) earnings per share. The company’s revenue was up 19.8% on a year-over-year basis. On average, equities research analysts forecast that Spotify Technology S.A. will post 6.22 EPS for the current year.

Wall Street Analysts Forecast Growth

SPOT has been the subject of a number of research reports. Jefferies Financial Group restated a “buy” rating and issued a $385.00 target price (up from $242.00) on shares of Spotify Technology in a research note on Thursday, July 11th. TD Cowen increased their price target on Spotify Technology from $273.00 to $356.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Redburn Atlantic reaffirmed a “sell” rating and issued a $230.00 price objective on shares of Spotify Technology in a research note on Wednesday, July 10th. Morgan Stanley boosted their target price on Spotify Technology from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, DZ Bank upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price target for the company in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $363.24.

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.