Dakota Wealth Management Increases Position in Spotify Technology S.A. (NYSE:SPOT)

Dakota Wealth Management increased its holdings in Spotify Technology S.A. (NYSE:SPOT) by 35.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,291 shares of the company’s stock after purchasing an additional 602 shares during the quarter. Dakota Wealth Management’s holdings in Spotify Technology were worth $1,025,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Prestige Wealth Management Group LLC purchased a new position in Spotify Technology during the third quarter valued at $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Spotify Technology during the 3rd quarter worth about $33,000. Larson Financial Group LLC lifted its stake 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 in the last quarter. V Square Quantitative Management LLC purchased a new position in Spotify Technology in the 3rd quarter valued at about $40,000. Finally, Rakuten Securities Inc. boosted its holdings in Spotify Technology by 40.5% in the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after buying an additional 32 shares during the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SPOT has been the topic of several research reports. Benchmark restated a “buy” rating and issued a $520.00 target price on shares of Spotify Technology in a research report on Thursday, January 16th. Phillip Securities restated an “accumulate” rating and issued a $485.00 price objective (up previously from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. JPMorgan Chase & Co. upped their target price on shares of Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Macquarie upped their price objective on shares of Spotify Technology from $395.00 to $500.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, Spotify Technology currently has an average rating of “Moderate Buy” and an average price target of $441.21.

Spotify Technology Trading Up 1.9 %

SPOT opened at $511.19 on Friday. The stock’s 50-day moving average price is $472.68 and its 200 day moving average price is $394.29. Spotify Technology S.A. has a 12-month low of $210.34 and a 12-month high of $512.01. The firm has a market cap of $101.75 billion, a price-to-earnings ratio of 138.91 and a beta of 1.62.

Spotify Technology (NYSE:SPOT) last issued 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 business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 EPS. On average, research analysts forecast that Spotify Technology S.A. will post 5.91 earnings per share for the current 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.