Spotify Technology S.A. (NYSE:SPOT) Shares Bought by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB grew its holdings in Spotify Technology S.A. (NYSE:SPOT) by 1,121.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 574 shares of the company’s stock after buying an additional 527 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Spotify Technology were worth $257,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SPOT. Prestige Wealth Management Group LLC acquired a new stake in Spotify Technology in the third quarter valued at $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Spotify Technology in the third quarter valued at about $33,000. Larson Financial Group LLC boosted its holdings in Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after buying an additional 33 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Spotify Technology during the third quarter worth about $40,000. Finally, Rakuten Securities Inc. increased its holdings in 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 buying an additional 32 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SPOT. Bank of America upped their price target on Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. TD Cowen raised their price target on Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. Phillip Securities reiterated an “accumulate” rating and issued a $485.00 price objective (up from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. JPMorgan Chase & Co. raised their target price on shares of Spotify Technology from $425.00 to $530.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One equities 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, Spotify Technology currently has an average rating of “Moderate Buy” and an average price target of $441.21.

Spotify Technology Price Performance

NYSE SPOT opened at $493.52 on Thursday. The business’s 50-day simple moving average is $471.69 and its 200-day simple moving average is $392.84. The firm has a market capitalization of $98.24 billion, a P/E ratio of 134.11 and a beta of 1.62. Spotify Technology S.A. has a 1-year low of $204.57 and a 1-year high of $510.84.

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