Whittier Trust Co. of Nevada Inc. Purchases 290 Shares of Spotify Technology S.A. (NYSE:SPOT)

Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 557.7% during the third quarter, Holdings Channel.com reports. The fund owned 342 shares of the company’s stock after buying an additional 290 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Spotify Technology were worth $126,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Transcendent Capital Group LLC bought a new stake in Spotify Technology during the 2nd quarter valued at approximately $25,000. Benjamin Edwards Inc. raised its position in shares of Spotify Technology by 214.8% during the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Spotify Technology by 86.0% in the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after buying an additional 43 shares in the last quarter. Mather Group LLC. boosted its position in shares of Spotify Technology by 9,900.0% during the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after acquiring an additional 99 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in Spotify Technology during the third quarter valued at $40,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Stock Down 2.0 %

Shares of NYSE:SPOT opened at $379.89 on Thursday. The business’s 50 day moving average is $355.37 and its 200 day moving average is $324.84. The stock has a market cap 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 quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.25. The business had revenue of $3.81 billion for 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%. The business’s revenue was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.69) EPS. Sell-side analysts predict that Spotify Technology S.A. will post 6.22 EPS for the current year.

Wall Street Analyst Weigh In

SPOT has been the subject of several research reports. Benchmark reissued a “buy” rating and set a $405.00 price objective on shares of Spotify Technology in a report on Monday, July 22nd. KeyCorp raised their price target on Spotify Technology from $440.00 to $490.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Pivotal Research lifted their price objective on Spotify Technology from $460.00 to $510.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Bank of America increased their target price on Spotify Technology from $370.00 to $380.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Finally, Macquarie boosted their price target on shares of Spotify Technology from $345.00 to $395.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.