Y.D. More Investments Ltd Has $5.95 Million Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Y.D. More Investments Ltd lifted its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,305 shares of the company’s stock after buying an additional 835 shares during the period. Y.D. More Investments Ltd’s holdings in Spotify Technology were worth $5,952,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SPOT. Prestige Wealth Management Group LLC acquired a new position in Spotify Technology in the 3rd quarter worth about $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Spotify Technology in the third quarter valued at approximately $33,000. Larson Financial Group LLC raised its holdings 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 during the last quarter. V Square Quantitative Management LLC acquired a new stake in Spotify Technology during the 3rd quarter worth approximately $40,000. Finally, Rakuten Securities Inc. grew its holdings in Spotify Technology by 40.5% during the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after acquiring an additional 32 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Price Performance

Shares of SPOT stock opened at $622.69 on Wednesday. Spotify Technology S.A. has a one year low of $219.36 and a one year high of $623.40. The company has a market cap of $123.95 billion, a P/E ratio of 169.21 and a beta of 1.63. The firm has a 50-day moving average of $482.11 and a 200-day moving average of $407.08.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SPOT. Canaccord Genuity Group lifted their price target on shares of Spotify Technology from $525.00 to $560.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Phillip Securities reaffirmed an “accumulate” rating and set a $485.00 target price (up from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. Pivotal Research raised their price objective on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Benchmark reiterated a “buy” rating and issued a $520.00 target price on shares of Spotify Technology in a report on Thursday, January 16th. Finally, TD Cowen raised their price target on shares of Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. One equities research 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $451.39.

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.