Accurate Wealth Management LLC Buys 82 Shares of Spotify Technology S.A. (NYSE:SPOT)

Accurate Wealth Management LLC raised its stake in Spotify Technology S.A. (NYSE:SPOT) by 4.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,829 shares of the company’s stock after acquiring an additional 82 shares during the period. Accurate Wealth Management LLC’s holdings in Spotify Technology were worth $681,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SPOT. Transcendent Capital Group LLC acquired a new stake in shares of Spotify Technology during the second quarter worth approximately $25,000. Benjamin Edwards Inc. increased its holdings in Spotify Technology by 214.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Larson Financial Group LLC raised its position in Spotify Technology by 86.0% in the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after purchasing an additional 43 shares during the last quarter. Mather Group LLC. boosted its stake in Spotify Technology by 9,900.0% in the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after purchasing an additional 99 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in Spotify Technology in the third quarter worth $40,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $378.88 on Friday. Spotify Technology S.A. has a 12 month low of $145.76 and a 12 month high of $389.23. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $75.42 billion, a PE ratio of 154.64 and a beta of 1.58. The stock’s fifty day simple moving average is $352.57 and its 200 day simple moving average is $323.08.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.25. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same quarter last year, the firm posted ($1.69) earnings per share. Spotify Technology’s revenue was up 19.8% compared to the same quarter last year. On average, research analysts predict that Spotify Technology S.A. will post 6.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SPOT. Evercore ISI lifted their price target on Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Rosenblatt Securities boosted their target price on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a research note on Thursday. Cantor Fitzgerald reissued a “neutral” rating and set a $340.00 price target on shares of Spotify Technology in a research note on Monday, October 7th. Jefferies Financial Group reissued a “buy” rating and issued a $385.00 price target (up previously from $242.00) on shares of Spotify Technology in a report on Thursday, July 11th. Finally, KeyCorp upped their price objective on Spotify Technology from $440.00 to $490.00 and gave the stock an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $362.21.

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.