Janney Montgomery Scott LLC Has $15.56 Million Position in Spotify Technology S.A. (NYSE:SPOT)

Janney Montgomery Scott LLC cut its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,776 shares of the company’s stock after selling 679 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Spotify Technology were worth $15,558,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC acquired a new stake in shares of Spotify Technology during the 3rd quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in Spotify Technology during the third quarter worth $33,000. Larson Financial Group LLC increased its holdings in Spotify Technology by 51.6% in the 3rd 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 acquired a new position in shares of Spotify Technology in the 3rd quarter valued at $40,000. Finally, Rakuten Securities Inc. lifted its holdings in shares of Spotify Technology by 40.5% during the 3rd 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.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $511.19 on Friday. Spotify Technology S.A. has a 52 week low of $210.34 and a 52 week high of $512.01. The stock has a market capitalization of $101.75 billion, a price-to-earnings ratio of 138.91 and a beta of 1.62. The firm has a fifty day moving average of $473.74 and a two-hundred day moving average of $395.66.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.30). The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 EPS. As a group, research analysts forecast that Spotify Technology S.A. will post 5.91 EPS for the current fiscal year.

Analyst Ratings Changes

SPOT has been the topic of a number of analyst reports. The Goldman Sachs Group upped their target price on shares of Spotify Technology from $490.00 to $550.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Canaccord Genuity Group increased their target price on Spotify Technology from $525.00 to $560.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. KeyCorp boosted their price target on Spotify Technology from $520.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Wells Fargo & Company increased their price objective on Spotify Technology from $470.00 to $520.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Macquarie upped their target price on shares of Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $441.21.

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.