Natixis Advisors LLC Buys 9,892 Shares of Spotify Technology S.A. (NYSE:SPOT)

Natixis Advisors LLC raised its stake in Spotify Technology S.A. (NYSE:SPOT) by 11.7% during the third quarter, HoldingsChannel.com reports. The fund owned 94,246 shares of the company’s stock after acquiring an additional 9,892 shares during the quarter. Natixis Advisors LLC’s holdings in Spotify Technology were worth $34,732,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of SPOT. Transcendent Capital Group LLC acquired a new position in Spotify Technology in the second quarter worth $25,000. Benjamin Edwards Inc. boosted its stake in Spotify Technology by 214.8% in the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares in 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. Asset Dedication LLC acquired a new position in Spotify Technology in the second quarter worth $35,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Spotify Technology during the second quarter valued at $39,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Down 4.0 %

NYSE:SPOT opened at $458.32 on Monday. The firm has a market capitalization of $91.23 billion, a price-to-earnings ratio of 124.54 and a beta of 1.56. Spotify Technology S.A. has a twelve month low of $170.62 and a twelve month high of $489.69. The stock’s 50 day moving average price is $378.15 and its two-hundred day moving average price is $338.61.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The business’s revenue was up 18.8% compared to the same quarter last year. As a group, analysts anticipate that Spotify Technology S.A. will post 6.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SPOT shares. Benchmark upped their price target on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Canaccord Genuity Group upped their price target on Spotify Technology from $475.00 to $525.00 and gave the company a “buy” rating in a research note on Thursday. Rosenblatt Securities increased their target price on Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. 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. Finally, Guggenheim increased their target price on Spotify Technology from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $421.69.

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.