Spotify Technology S.A. (NYSE:SPOT) Shares Bought by MML Investors Services LLC

MML Investors Services LLC raised its stake in Spotify Technology S.A. (NYSE:SPOT) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,014 shares of the company’s stock after purchasing an additional 296 shares during the quarter. MML Investors Services LLC’s holdings in Spotify Technology were worth $4,428,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Transcendent Capital Group LLC purchased a new position in Spotify Technology in the 2nd quarter valued at $25,000. Benjamin Edwards Inc. lifted its stake 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 period. Asset Dedication LLC acquired a new stake in shares of Spotify Technology in the 2nd quarter worth $35,000. Larson Financial Group LLC boosted its holdings in shares of Spotify Technology by 51.6% in the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after acquiring an additional 33 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Spotify Technology during the second quarter worth about $39,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Trading Up 0.7 %

Spotify Technology stock opened at $483.31 on Friday. The stock has a 50-day moving average price of $426.66 and a 200 day moving average price of $363.01. Spotify Technology S.A. has a 52 week low of $185.37 and a 52 week high of $506.47. The stock has a market cap of $96.20 billion, a PE ratio of 131.33 and a beta of 1.61.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 earnings per share. On average, equities analysts predict that Spotify Technology S.A. will post 6.02 EPS for the current year.

Wall Street Analysts Forecast Growth

SPOT has been the subject of a number of recent analyst reports. KeyCorp raised their price objective on shares of Spotify Technology from $490.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Rosenblatt Securities lifted their price target on Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft upped their price objective on Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Cantor Fitzgerald reissued a “neutral” rating and issued a $340.00 target price on shares of Spotify Technology in a report on Monday, October 7th. Finally, Piper Sandler upped their price target on shares of Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $429.96.

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.