Cerity Partners LLC Buys 3,524 Shares of Spotify Technology S.A. (NYSE:SPOT)

Cerity Partners LLC boosted its position in Spotify Technology S.A. (NYSE:SPOT) by 11.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,321 shares of the company’s stock after buying an additional 3,524 shares during the period. Cerity Partners LLC’s holdings in Spotify Technology were worth $12,280,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new position in shares of Spotify Technology in the second quarter valued at $25,000. Benjamin Edwards Inc. raised its holdings in shares of Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Mather Group LLC. lifted its position in Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after acquiring an additional 99 shares in the last quarter. Asset Dedication LLC acquired a new position in Spotify Technology during the 2nd quarter valued at about $35,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Spotify Technology during the 2nd quarter worth approximately $39,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Stock Up 1.0 %

Shares of NYSE SPOT opened at $479.85 on Tuesday. The company has a market cap of $95.51 billion, a P/E ratio of 130.39 and a beta of 1.56. Spotify Technology S.A. has a 52 week low of $179.66 and a 52 week high of $489.69. The business has a 50-day simple moving average of $394.43 and a two-hundred day simple moving average of $345.87.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. Spotify Technology’s revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 earnings per share. Equities research analysts anticipate that Spotify Technology S.A. will post 6.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Phillip Securities reaffirmed an “accumulate” rating and set a $485.00 target price (up previously from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. Evercore ISI upped their target price on shares of Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Morgan Stanley raised their price target on shares of Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. KeyCorp upped their price objective on shares of Spotify Technology from $490.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Rosenblatt Securities lifted their target price on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. One 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.