Spotify Technology S.A. (NYSE:SPOT) Shares Purchased by Banque Pictet & Cie SA

Banque Pictet & Cie SA grew its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 129.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,520 shares of the company’s stock after purchasing an additional 1,420 shares during the period. Banque Pictet & Cie SA’s holdings in Spotify Technology were worth $1,127,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. First Horizon Advisors Inc. boosted its stake in shares of Spotify Technology by 5.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock worth $176,000 after purchasing an additional 26 shares during the last quarter. West Bancorporation Inc. boosted its stake in shares of Spotify Technology by 3.4% during the 3rd quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock worth $305,000 after purchasing an additional 27 shares during the last quarter. Joel Isaacson & Co. LLC boosted its stake in shares of Spotify Technology by 1.9% during the 4th quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company’s stock worth $697,000 after purchasing an additional 29 shares during the last quarter. Avior Wealth Management LLC boosted its stake in shares of Spotify Technology by 12.0% during the 3rd quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock worth $104,000 after purchasing an additional 30 shares during the last quarter. Finally, Park National Corp OH boosted its stake in shares of Spotify Technology by 4.1% during the 4th quarter. Park National Corp OH now owns 793 shares of the company’s stock worth $355,000 after purchasing an additional 31 shares during the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Trading Down 1.6 %

SPOT stock opened at $637.75 on Friday. Spotify Technology S.A. has a twelve month low of $239.66 and a twelve month high of $652.63. The company has a market capitalization of $126.94 billion, a P/E ratio of 107.18 and a beta of 1.63. The firm has a 50 day simple moving average of $505.57 and a 200-day simple moving average of $423.21.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The company 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 business posted $0.36 EPS. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. On average, research analysts predict that Spotify Technology S.A. will post 9.69 EPS for the current year.

Analyst Upgrades and Downgrades

SPOT has been the topic of several analyst reports. Wells Fargo & Company raised their price target on shares of Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Canaccord Genuity Group raised their target price on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. UBS Group raised their target price on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Citigroup raised their target price on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Bank of America raised their target price on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $529.43.

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.