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River & Mercantile Asset Management LLP increased its equity stake in Spotify Technology SA (NYSE:SPOT – Get Rating) by 38.3% in the third quarter, according to its latest filings with the Securities and Exchange Commission. The company owned 27,877 shares after acquiring an additional 7,720 of his shares during the period. River & Mercantile Asset Management LLP’s Spotify Technology holdings were valued at $2,404,000 at the end of the most recent reporting period.
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Many other institutional investors and hedge funds have also recently changed their stock holdings. Captrust Financial Advisors expanded his position in Spotify Technology stock by 1,641.8% in the third quarter. Captrust Financial Advisors now owns 40,601 shares of the company, valued at $3,506,000, after acquiring an additional 38,270 shares during this period. Balyasny Asset Management LLC increased its position in Spotify technology shares by 911.6% in the third quarter. Balyasny Asset Management LLC now owns 43,245 shares of the company worth $3,732,000 after acquiring an additional 38,970 shares during this period. Neo Ivy Capital Management climbed his 87.6% share of Spotify Technology in the third quarter. Neo Ivy Capital Management now owns 362 shares of the company worth $31,000 after acquiring an additional 169 shares during this period. Jacobs Levy Equity Management Inc. expanded its Spotify technology stock position by 6.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 10,069 shares worth $869,000 after acquiring an additional 635 shares during this period. Finally, Stonebridge Capital Advisors LLC increased its holding of Spotify technology by 1,300.0% in the third quarter. Stonebridge Capital Advisors LLC now owns 350 shares of the company, valued at $30,000, after purchasing an additional 325 shares during this period. 52.80% of the shares are owned by institutional investors.
Spotify technology stock gains 0.1%
The NYSE SPOT opened Thursday at $125.65. The company has a 50-day simple moving average of $112.02 and a 200-day simple moving average of $94.98. Spotify Technology SA has a 12-month low of $69.29 and a 12-month high of $160.06. The company has a market capitalization of $24.29 billion, a price/earnings ratio of -40.66 and a beta of 1.75.
Spotify Technology (NYSE:SPOT – Get Rating) last reported quarterly results on Tuesday, January 31. The company reported his earnings per share (EPS) for the quarter ($1.43), missing consensus expectations ($1.28) ($0.15). Spotify Technology had a net profit margin of 3.48% and a return on equity of 17.78%. The business generated $3.23 billion in revenue for the quarter, compared to analyst expectations of $3.26 billion. Equity analysts expect Spotify Technology SA to post a negative earnings per share of -2.15 for him this year.
Analyst sets new price target
Many equity research analysts publish reports on SPOT stocks. KeyCorp raised its price target on Spotify Technology from his $125.00 to $140.00, giving the company an “overweight” rating in a report on Wednesday, Feb. 1. Truist Financial raised its price target on Spotify Technology from $115.00 to $132.00 in a report on Wednesday, February 1, giving the company a Buy rating. Raymond James raised his price target for Spotify Technology from his $110.00 to his $130.00, giving the company an “Outperform” rating in a report on Wednesday, Feb. 1. UBS Group lowered its price target on Spotify technology stock to $100.00 from $142.00 in a research report on Thursday, January 5. Finally, Bank of America raised its price target on Spotify technology stock from $120.00 to $143.00 in his Friday, March 10 research report. Eight analysts rated the stock with a hold rating and 13 issued a buy rating on the company’s stock. According to MarketBeat data, the company’s current consensus rating is “moderate buy” with a consensus price target of $131.77.
Spotify Technology Profile
(get rating)
Spotify Technology SA is a digital music service that gives music fans instant access to the world of music. It operates through its Premium and Ad-supported segments. The premium segment offers subscribers unlimited online and offline high-quality streaming access to music and podcasts on computers, tablets and mobile devices.
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