CreativeOne Wealth LLC Acquires 478 Shares of Spotify Technology S.A. (NYSE:SPOT)

CreativeOne Wealth LLC lifted its holdings in Spotify Technology S.A. (NYSE:SPOT) by 40.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,669 shares of the company’s stock after acquiring an additional 478 shares during the period. CreativeOne Wealth LLC’s holdings in Spotify Technology were worth $615,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cetera Investment Advisers lifted its stake in shares of Spotify Technology by 95.2% in the 1st quarter. Cetera Investment Advisers now owns 13,332 shares of the company’s stock valued at $3,518,000 after purchasing an additional 6,502 shares during the last quarter. Cetera Advisors LLC boosted its stake in Spotify Technology by 19.8% during the first quarter. Cetera Advisors LLC now owns 3,185 shares of the company’s stock worth $840,000 after buying an additional 526 shares during the period. DekaBank Deutsche Girozentrale increased its position in Spotify Technology by 580.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 55,683 shares of the company’s stock valued at $14,376,000 after acquiring an additional 47,500 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Spotify Technology by 17.1% in the first quarter. EverSource Wealth Advisors LLC now owns 938 shares of the company’s stock valued at $263,000 after acquiring an additional 137 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Spotify Technology by 49.1% in the 2nd quarter. GAMMA Investing LLC now owns 498 shares of the company’s stock worth $156,000 after acquiring an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

SPOT has been the topic of a number of recent analyst reports. Barclays increased their price objective on shares of Spotify Technology from $385.00 to $475.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. increased their price target on Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. KeyCorp boosted their price objective on Spotify Technology from $490.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Rosenblatt Securities increased their target price on Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Benchmark boosted their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $421.69.

Spotify Technology Trading Up 0.4 %

Shares of SPOT opened at $476.96 on Friday. The firm has a market cap of $94.94 billion, a PE ratio of 129.61 and a beta of 1.56. Spotify Technology S.A. has a 12 month low of $179.66 and a 12 month high of $489.69. The stock has a fifty day moving average price of $404.30 and a 200-day moving average price of $350.65.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter last year, the business posted $0.36 earnings per share. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. As a group, research analysts forecast that Spotify Technology S.A. will post 6.02 EPS for the current 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.