Thurston Springer Miller Herd & Titak Inc. Has $76,000 Position in Spotify Technology $SPOT

Thurston Springer Miller Herd & Titak Inc. cut its stake in shares of Spotify Technology (NYSE:SPOT) by 92.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 109 shares of the company’s stock after selling 1,291 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Spotify Technology were worth $76,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Knuff & Co LLC acquired a new position in shares of Spotify Technology during the second quarter valued at about $27,000. Heartwood Wealth Advisors LLC bought a new stake in Spotify Technology in the 3rd quarter valued at about $27,000. Total Investment Management Inc. bought a new stake in Spotify Technology in the 2nd quarter valued at about $29,000. Sound Income Strategies LLC raised its stake in Spotify Technology by 156.3% during the 2nd quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock worth $31,000 after buying an additional 25 shares during the period. Finally, GFG Capital LLC bought a new position in Spotify Technology in the second quarter worth approximately $33,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Price Performance

Spotify Technology stock opened at $566.43 on Thursday. The business has a fifty day moving average price of $625.20 and a 200-day moving average price of $675.68. Spotify Technology has a one year low of $443.21 and a one year high of $785.00. The firm has a market capitalization of $116.62 billion, a P/E ratio of 89.06, a PEG ratio of 1.91 and a beta of 1.66.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $1.96. The business had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.23 billion. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. Spotify Technology’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm posted $1.45 earnings per share. Sell-side analysts expect that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SPOT shares. DZ Bank upgraded Spotify Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. BNP Paribas Exane started coverage on shares of Spotify Technology in a research note on Tuesday, September 16th. They set an “outperform” rating and a $900.00 price target for the company. Guggenheim lowered their price objective on shares of Spotify Technology from $850.00 to $800.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Wall Street Zen raised shares of Spotify Technology from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Barclays decreased their target price on shares of Spotify Technology from $750.00 to $700.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $760.23.

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.