Verde Capital Management Boosts Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Verde Capital Management grew its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 9.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,274 shares of the company’s stock after buying an additional 709 shares during the period. Spotify Technology accounts for approximately 1.0% of Verde Capital Management’s holdings, making the stock its 19th biggest holding. Verde Capital Management’s holdings in Spotify Technology were worth $3,702,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Prestige Wealth Management Group LLC acquired a new stake in Spotify Technology during the third quarter worth about $26,000. Hobbs Group Advisors LLC acquired a new position in Spotify Technology during the third quarter valued at approximately $33,000. Larson Financial Group LLC raised its stake in shares of Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after acquiring an additional 33 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Spotify Technology in the third quarter valued at about $40,000. Finally, Rakuten Securities Inc. boosted its stake in shares of Spotify Technology by 40.5% in the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after purchasing an additional 32 shares during the period. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SPOT has been the topic of several analyst reports. TD Cowen lifted their price objective on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. Canaccord Genuity Group increased their price objective on shares of Spotify Technology from $525.00 to $560.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. UBS Group boosted their target price on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group increased their price target on shares of Spotify Technology from $490.00 to $550.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Rosenblatt Securities upped their price objective on Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $441.21.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $500.85 on Friday. Spotify Technology S.A. has a 1 year low of $209.18 and a 1 year high of $510.84. The business’s fifty day moving average is $472.22 and its 200-day moving average is $393.55. The stock has a market cap of $99.69 billion, a PE ratio of 136.10 and a beta of 1.62.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 earnings per share. Equities research analysts predict that Spotify Technology S.A. will post 5.91 earnings per share for the current year.

Spotify Technology Company 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.