MassMutual Private Wealth & Trust FSB Grows Stock Position in Spotify Technology S.A. (NYSE:SPOT)

MassMutual Private Wealth & Trust FSB lifted its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 1,121.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 574 shares of the company’s stock after purchasing an additional 527 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Spotify Technology were worth $257,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SPOT. WCM Investment Management LLC grew its stake in Spotify Technology by 18.5% during the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after purchasing an additional 605,755 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Spotify Technology by 36,910.0% in the third quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock worth $128,073,000 after buying an additional 346,585 shares during the last quarter. FMR LLC increased its stake in shares of Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after buying an additional 297,035 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Spotify Technology by 3,948.3% in the third quarter. Janus Henderson Group PLC now owns 264,233 shares of the company’s stock valued at $97,329,000 after acquiring an additional 257,706 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Spotify Technology by 179.0% in the third quarter. Assenagon Asset Management S.A. now owns 380,214 shares of the company’s stock valued at $140,120,000 after acquiring an additional 243,933 shares in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SPOT. Cantor Fitzgerald restated a “neutral” rating and issued a $340.00 target price on shares of Spotify Technology in a research note on Monday, October 7th. The Goldman Sachs Group increased their target price on Spotify Technology from $490.00 to $550.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Benchmark reiterated a “buy” rating and issued a $520.00 price target on shares of Spotify Technology in a report on Thursday, January 16th. JPMorgan Chase & Co. raised their price objective on Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Macquarie increased their target price on shares of Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and a consensus target price of $441.21.

Spotify Technology Price Performance

SPOT opened at $493.52 on Thursday. The business has a 50 day moving average price of $471.69 and a two-hundred day moving average price of $392.84. The company has a market capitalization of $98.24 billion, a price-to-earnings 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 announced its earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.30). The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 EPS. Equities 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.