CHURCHILL MANAGEMENT Corp Buys New Shares in Spotify Technology S.A. (NYSE:SPOT)

CHURCHILL MANAGEMENT Corp purchased a new position in shares of Spotify Technology S.A. (NYSE:SPOT) in the fourth quarter, HoldingsChannel reports. The fund purchased 5,165 shares of the company’s stock, valued at approximately $2,311,000.

Several other large investors have also added to or reduced their stakes in SPOT. First Horizon Advisors Inc. lifted its holdings in shares of Spotify Technology by 5.8% during the third 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 period. West Bancorporation Inc. lifted its stake in Spotify Technology by 3.4% during the 3rd quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock valued at $305,000 after acquiring an additional 27 shares during the period. Avior Wealth Management LLC boosted its holdings in shares of Spotify Technology by 12.0% in the 3rd quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock valued at $104,000 after acquiring an additional 30 shares during the last quarter. Park National Corp OH increased its stake in shares of Spotify Technology by 4.1% in the fourth quarter. Park National Corp OH now owns 793 shares of the company’s stock worth $355,000 after acquiring an additional 31 shares during the period. Finally, Washington Trust Advisors Inc. raised its holdings in shares of Spotify Technology by 12.0% during the third quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock worth $110,000 after purchasing an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SPOT shares. Barclays increased their price target on Spotify Technology from $385.00 to $475.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft lifted their price target on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $340.00 price objective on shares of Spotify Technology in a research note on Monday, October 7th. Morgan Stanley lifted their target price on shares of Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Rosenblatt Securities increased their price target on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $438.36.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $489.56 on Thursday. The business’s 50 day moving average price is $463.33 and its 200 day moving average price is $386.77. The company has a market cap of $97.45 billion, a price-to-earnings ratio of 133.03 and a beta of 1.62. Spotify Technology S.A. has a one year low of $191.88 and a one year high of $506.47.

Spotify Technology (NYSE:SPOT) last announced its quarterly 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). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The firm 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 firm posted $0.36 EPS. The company’s revenue was up 18.8% compared to the same quarter last year. On average, analysts predict that Spotify Technology S.A. will post 5.96 EPS for the current fiscal 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.