Blue Trust Inc. Has $910,000 Position in Spotify Technology S.A. (NYSE:SPOT)

Blue Trust Inc. raised its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 39.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,034 shares of the company’s stock after buying an additional 577 shares during the period. Blue Trust Inc.’s holdings in Spotify Technology were worth $910,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WCM Investment Management LLC raised its stake in shares of Spotify Technology by 18.5% in the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after acquiring an additional 605,755 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Spotify Technology by 36,910.0% in the third quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock valued at $128,073,000 after buying an additional 346,585 shares during the period. FMR LLC grew its holdings in Spotify Technology by 23.4% during the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after purchasing an additional 297,035 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Spotify Technology by 3,948.3% in the 3rd quarter. Janus Henderson Group PLC now owns 264,233 shares of the company’s stock valued at $97,329,000 after buying an additional 257,706 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Spotify Technology by 179.0% in the third quarter. Assenagon Asset Management S.A. now owns 380,214 shares of the company’s stock worth $140,120,000 after acquiring an additional 243,933 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on SPOT. KeyCorp raised their price objective on shares of Spotify Technology from $520.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. Morgan Stanley upped their price target on shares of Spotify Technology from $430.00 to $460.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group lifted their price target on Spotify Technology from $525.00 to $560.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. The Goldman Sachs Group raised their price objective on Spotify Technology from $490.00 to $550.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $446.21.

Spotify Technology Trading Up 1.8 %

Spotify Technology stock opened at $540.11 on Thursday. Spotify Technology S.A. has a 1-year low of $213.31 and a 1-year high of $543.86. The firm has a market cap of $107.51 billion, a P/E ratio of 146.77 and a beta of 1.62. The firm has a 50-day moving average of $476.28 and a 200-day moving average of $400.01.

Spotify Technology (NYSE:SPOT) last announced its quarterly 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). The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. Spotify Technology’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 EPS. Research analysts forecast that Spotify Technology S.A. will post 5.91 earnings per share for the current fiscal year.

Spotify Technology 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.