Alpha Family Trust Purchases Shares of 595 Spotify Technology S.A. (NYSE:SPOT)

Alpha Family Trust purchased a new stake in Spotify Technology S.A. (NYSE:SPOT) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 595 shares of the company’s stock, valued at approximately $219,000.

A number of other large investors also recently bought and sold shares of SPOT. Transcendent Capital Group LLC acquired a new position in shares of Spotify Technology during the 2nd quarter worth approximately $25,000. Benjamin Edwards Inc. raised its stake in shares of Spotify Technology by 214.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after buying an additional 58 shares during the period. Mather Group LLC. raised its stake in shares of Spotify Technology by 9,900.0% during the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after buying an additional 99 shares during the period. Asset Dedication LLC acquired a new position in shares of Spotify Technology during the 2nd quarter worth approximately $35,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Spotify Technology during the 2nd quarter worth approximately $39,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Stock Down 4.0 %

Shares of Spotify Technology stock opened at $458.32 on Friday. Spotify Technology S.A. has a 52 week low of $170.62 and a 52 week high of $489.69. The business’s fifty day simple moving average is $378.15 and its 200-day simple moving average is $338.24. The firm has a market cap of $91.23 billion, a PE ratio of 124.54 and a beta of 1.56.

Spotify Technology (NYSE:SPOT) last posted its earnings results 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). Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period in the previous year, the company posted $0.36 EPS. Spotify Technology’s revenue was up 18.8% on a year-over-year basis. As a group, equities analysts expect that Spotify Technology S.A. will post 6.09 earnings per share for the current year.

Analyst Ratings Changes

SPOT has been the subject of several research analyst reports. Macquarie upped their target price on Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a research note on Wednesday. Cantor Fitzgerald reiterated a “neutral” rating and set a $340.00 price target on shares of Spotify Technology in a research report on Monday, October 7th. DZ Bank upgraded Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price target for the company in a research report on Wednesday, July 24th. Phillip Securities reiterated an “accumulate” rating and set a $485.00 price target (up from $420.00) on shares of Spotify Technology in a research report on Wednesday. Finally, Pivotal Research boosted their price target on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, Spotify Technology presently has an average rating of “Moderate Buy” and a consensus price target of $421.69.

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.