Mount Yale Investment Advisors LLC Acquires 636 Shares of Spotify Technology S.A. (NYSE:SPOT)

Mount Yale Investment Advisors LLC lifted its holdings in Spotify Technology S.A. (NYSE:SPOT) by 3.5% in the third quarter, Holdings Channel reports. The fund owned 18,643 shares of the company’s stock after purchasing an additional 636 shares during the quarter. Spotify Technology makes up 0.7% of Mount Yale Investment Advisors LLC’s holdings, making the stock its 17th biggest holding. Mount Yale Investment Advisors LLC’s holdings in Spotify Technology were worth $6,871,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SPOT. GQG Partners LLC bought a new stake in Spotify Technology in the first quarter worth about $610,040,000. Swedbank AB bought a new stake in Spotify Technology in the first quarter worth about $198,663,000. International Assets Investment Management LLC lifted its stake in Spotify Technology by 36,910.0% in the third quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock worth $128,073,000 after purchasing an additional 346,585 shares during the last quarter. Sei Investments Co. lifted its stake in Spotify Technology by 106.8% in the second quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock worth $202,828,000 after purchasing an additional 333,782 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Spotify Technology by 179.0% in the third quarter. Assenagon Asset Management S.A. now owns 380,214 shares of the company’s stock worth $140,120,000 after purchasing an additional 243,933 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Analysts Set New Price Targets

SPOT has been the subject of several analyst reports. Rosenblatt Securities raised their price objective on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. lifted their price target on shares of Spotify Technology from $375.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Wolfe Research began coverage on shares of Spotify Technology in a research note on Friday, July 12th. They set an “outperform” rating and a $390.00 price target for the company. UBS Group lifted their price target on shares of Spotify Technology from $375.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Finally, DZ Bank raised shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price target for the company in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $363.24.

Spotify Technology Price Performance

NYSE SPOT opened at $376.72 on Friday. The firm’s fifty day simple moving average is $355.37 and its two-hundred day simple moving average is $324.84. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. Spotify Technology S.A. has a 12-month low of $155.00 and a 12-month high of $389.48. The firm has a market capitalization of $71.65 billion, a P/E ratio of -562.27 and a beta of 1.58.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.25. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.82 billion. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.69) earnings per share. Analysts forecast that Spotify Technology S.A. will post 6.22 EPS 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.