Nisa Investment Advisors LLC Raises Stake in Spotify Technology S.A. (NYSE:SPOT)

Nisa Investment Advisors LLC raised its position in Spotify Technology S.A. (NYSE:SPOT) by 42.1% during the fourth quarter, HoldingsChannel reports. The firm owned 39,074 shares of the company’s stock after buying an additional 11,570 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Spotify Technology were worth $17,481,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Genesis Private Wealth LLC acquired a new position in shares of Spotify Technology during the fourth quarter worth $389,000. Octavia Wealth Advisors LLC purchased a new stake in Spotify Technology during the 4th quarter worth about $400,000. Atomi Financial Group Inc. boosted its position in shares of Spotify Technology by 13.0% during the 4th quarter. Atomi Financial Group Inc. now owns 1,775 shares of the company’s stock worth $794,000 after acquiring an additional 204 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of Spotify Technology by 45.5% in the 4th quarter. Ballentine Partners LLC now owns 944 shares of the company’s stock valued at $422,000 after acquiring an additional 295 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Spotify Technology by 1,121.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 574 shares of the company’s stock worth $257,000 after acquiring an additional 527 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SPOT has been the subject of a number of research analyst reports. Barclays upped their price target on Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Piper Sandler upped their target price on shares of Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Canaccord Genuity Group increased their target price on shares of Spotify Technology from $525.00 to $560.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Morgan Stanley boosted their price target on shares of Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, Macquarie raised their price objective on Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, Spotify Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $441.21.

Spotify Technology Trading Up 1.2 %

Shares of SPOT stock opened at $493.52 on Thursday. Spotify Technology S.A. has a 12-month low of $204.57 and a 12-month high of $510.84. The company has a market cap of $98.24 billion, a price-to-earnings ratio of 134.11 and a beta of 1.62. The stock has a 50 day simple moving average of $471.69 and a 200-day simple moving average of $392.84.

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 analysts’ expectations of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The company’s revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. On average, equities analysts forecast that Spotify Technology S.A. will post 5.91 earnings per share 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.