US Bancorp DE Boosts Stake in Spotify Technology S.A. (NYSE:SPOT)
https://www.ispeech.org/text.to.speech
US Bancorp DE grew its stake in shares of Spotify Technology S.A. (NYSE:SPOT - Get Rating) by 19.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,566 shares of the company's stock after acquiring an additional 4,784 shares during the period. US Bancorp DE's holdings in Spotify Technology were worth $2,552,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of SPOT. Cetera Advisor Networks LLC grew its position in shares of Spotify Technology by 142.4% during the 1st quarter. Cetera Advisor Networks LLC now owns 3,071 shares of the company's stock valued at $464,000 after acquiring an additional 1,804 shares during the period. Private Advisor Group LLC grew its position in shares of Spotify Technology by 19.8% during the 1st quarter. Private Advisor Group LLC now owns 4,909 shares of the company's stock valued at $741,000 after acquiring an additional 811 shares during the period. BlackRock Inc. grew its position in shares of Spotify Technology by 6.3% during the 1st quarter. BlackRock Inc. now owns 4,046,153 shares of the company's stock valued at $611,049,000 after acquiring an additional 241,026 shares during the period. Cibc World Market Inc. grew its position in shares of Spotify Technology by 22.4% during the 1st quarter. Cibc World Market Inc. now owns 4,823 shares of the company's stock valued at $728,000 after acquiring an additional 883 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Spotify Technology by 68.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 190,255 shares of the company's stock valued at $28,735,000 after acquiring an additional 77,379 shares during the period. 52.80% of the stock is owned by institutional investors.
Spotify Technology Stock Performance
Spotify Technology stock opened at $92.06 on Friday. The firm's fifty day moving average price is $79.29 and its 200-day moving average price is $93.27. Spotify Technology S.A. has a fifty-two week low of $69.29 and a fifty-two week high of $226.40.
Spotify Technology (NYSE:SPOT - Get Rating) last posted its quarterly earnings data on Tuesday, October 25th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.11). The company had revenue of $3.05 billion for the quarter, compared to analysts' expectations of $3.03 billion. Spotify Technology had a negative net margin of 1.62% and a negative return on equity of 8.21%. On average, equities analysts forecast that Spotify Technology S.A. will post -2.6 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the stock. UBS Group reduced their target price on shares of Spotify Technology from $142.00 to $100.00 in a research report on Thursday, January 5th. Piper Sandler assumed coverage on shares of Spotify Technology in a report on Thursday, October 20th. They issued a "neutral" rating and a $87.00 price objective for the company. KeyCorp cut their price objective on shares of Spotify Technology from $148.00 to $135.00 and set an "overweight" rating for the company in a report on Friday, October 21st. Canaccord Genuity Group cut their price objective on shares of Spotify Technology from $175.00 to $150.00 in a report on Monday, October 24th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Spotify Technology from $155.00 to $130.00 and set an "overweight" rating for the company in a report on Friday, October 21st. Thirteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Spotify Technology has an average rating of "Hold" and a consensus price target of $142.44.
About Spotify Technology
Spotify Technology SA, together with its subsidiaries, provides audio streaming services worldwide. It operates through Premium and Ad-Supported segments. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.
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