Accurate Wealth Management LLC Has $435,000 Stake in Spotify Technology S.A. (NYSE:SPOT)

Accurate Wealth Management LLC decreased its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 48.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 946 shares of the company’s stock after selling 883 shares during the period. Accurate Wealth Management LLC’s holdings in Spotify Technology were worth $435,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in SPOT. Mesirow Financial Investment Management Inc. acquired a new position in shares of Spotify Technology during the 2nd quarter valued at about $310,000. SYSTM Wealth Solutions LLC acquired a new position in shares of Spotify Technology during the 2nd quarter valued at about $104,000. Mercer Global Advisors Inc. ADV increased its holdings in shares of Spotify Technology by 20.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 2,600 shares of the company’s stock valued at $816,000 after acquiring an additional 435 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Spotify Technology by 5.9% during the 2nd quarter. Amalgamated Bank now owns 9,812 shares of the company’s stock valued at $3,079,000 after acquiring an additional 548 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Spotify Technology by 11.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,728 shares of the company’s stock valued at $3,642,000 after purchasing an additional 1,212 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Benchmark increased their target price on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Monday, November 11th. TD Cowen increased their target price on Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft increased their target price on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Phillip Securities restated an “accumulate” rating and set a $485.00 target price (up previously from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. Finally, Pivotal Research increased their target price on Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, Spotify Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $438.36.

Spotify Technology Price Performance

SPOT stock opened at $489.56 on Thursday. The business has a fifty day moving average price of $463.33 and a 200 day moving average price of $386.77. Spotify Technology S.A. has a fifty-two week low of $191.88 and a fifty-two week high of $506.47. The stock has a market capitalization of $97.45 billion, a price-to-earnings ratio of 133.03 and a beta of 1.62.

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). The business had revenue of $3.99 billion for 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 revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 earnings per share. On average, equities analysts expect that Spotify Technology S.A. will post 6.02 earnings per share for the current fiscal year.

About Spotify Technology

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.