Bank of Hawaii Makes New $251,000 Investment in Spotify Technology S.A. (NYSE:SPOT)

Bank of Hawaii acquired a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 682 shares of the company’s stock, valued at approximately $251,000.

Other institutional investors have also modified their holdings of the company. Summit Trail Advisors LLC raised its stake in shares of Spotify Technology by 7.5% in the third quarter. Summit Trail Advisors LLC now owns 2,425 shares of the company’s stock valued at $894,000 after acquiring an additional 169 shares during the period. Larson Financial Group LLC grew its holdings in Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after purchasing an additional 33 shares during the last quarter. Okabena Investment Services Inc. grew its holdings in Spotify Technology by 128.8% during the 3rd quarter. Okabena Investment Services Inc. now owns 3,979 shares of the company’s stock valued at $1,466,000 after purchasing an additional 2,240 shares during the last quarter. Pitcairn Co. raised its position in Spotify Technology by 17.4% in the 3rd quarter. Pitcairn Co. now owns 6,530 shares of the company’s stock worth $2,407,000 after purchasing an additional 969 shares during the period. Finally, Algert Global LLC lifted its stake in Spotify Technology by 703.1% in the third quarter. Algert Global LLC now owns 11,999 shares of the company’s stock worth $4,422,000 after purchasing an additional 10,505 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Stock Up 1.0 %

NYSE:SPOT opened at $479.85 on Tuesday. The stock has a market capitalization of $95.51 billion, a price-to-earnings ratio of 130.39 and a beta of 1.56. Spotify Technology S.A. has a 52 week low of $179.66 and a 52 week high of $489.69. The firm has a 50 day moving average of $394.43 and a 200 day moving average of $345.87.

Spotify Technology (NYSE:SPOT) last issued 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). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the prior year, the company posted $0.36 EPS. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. As a group, analysts expect that Spotify Technology S.A. will post 6.02 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SPOT shares. Pivotal Research upped their target price on Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Piper Sandler upped their price objective on Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft lifted their target price on Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. TD Cowen boosted their target price on shares of Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th. Finally, Macquarie raised their price target on shares of Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, Spotify Technology has an average rating of “Moderate Buy” and an average target price of $421.69.

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.