Dynamic Advisor Solutions LLC Acquires 124 Shares of Spotify Technology S.A. (NYSE:SPOT)

Dynamic Advisor Solutions LLC lifted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 4.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,650 shares of the company’s stock after acquiring an additional 124 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Spotify Technology were worth $1,185,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Prestige Wealth Management Group LLC purchased a new stake in shares of Spotify Technology during the 3rd quarter valued at $26,000. Hobbs Group Advisors LLC purchased a new position in shares of Spotify Technology in the 3rd quarter worth about $33,000. Larson Financial Group LLC grew its position in Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after buying an additional 33 shares during the period. V Square Quantitative Management LLC purchased a new stake in Spotify Technology during the third quarter worth about $40,000. Finally, Rakuten Securities Inc. raised its position in Spotify Technology by 40.5% in the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after acquiring an additional 32 shares during the period. 84.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SPOT shares. Pivotal Research increased their target price on shares of Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. raised their target price on Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. KeyCorp boosted their target price on Spotify Technology from $520.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Macquarie lifted 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. Finally, Canaccord Genuity Group upped their price objective on shares of Spotify Technology from $525.00 to $560.00 and gave the company a “buy” rating in a report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $441.21.

Spotify Technology Stock Up 1.9 %

NYSE SPOT opened at $511.19 on Monday. The stock’s 50-day simple moving average is $473.74 and its two-hundred day simple moving average is $396.25. Spotify Technology S.A. has a twelve month low of $210.34 and a twelve month high of $512.01. The company has a market capitalization of $101.75 billion, a price-to-earnings ratio of 138.91 and a beta of 1.62.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 EPS 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%. Spotify Technology’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 earnings per share. On average, equities analysts expect that Spotify Technology S.A. will post 5.91 earnings per share for the current fiscal year.

About Spotify Technology

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.