Spotify Technology S.A. (NYSE:SPOT) Shares Purchased by Wesbanco Bank Inc.

Wesbanco Bank Inc. raised its holdings in Spotify Technology S.A. (NYSE:SPOT) by 18.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,582 shares of the company’s stock after acquiring an additional 1,021 shares during the period. Wesbanco Bank Inc.’s holdings in Spotify Technology were worth $2,945,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Prestige Wealth Management Group LLC acquired a new position in shares of Spotify Technology in the 3rd quarter worth $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Spotify Technology in the 3rd quarter valued at $33,000. Larson Financial Group LLC increased its stake in Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after purchasing an additional 33 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Spotify Technology during the 3rd quarter worth about $40,000. Finally, Rakuten Securities Inc. lifted its stake in Spotify Technology by 40.5% during the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after buying an additional 32 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SPOT shares. TD Cowen lifted their target price on shares of Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. Benchmark reissued a “buy” rating and set a $520.00 target price on shares of Spotify Technology in a research note on Thursday, January 16th. UBS Group raised their target price on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Barclays increased their price objective on Spotify Technology from $385.00 to $475.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Rosenblatt Securities lifted 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $441.21.

Spotify Technology Trading Up 1.5 %

NYSE:SPOT opened at $500.85 on Friday. The firm has a market capitalization of $99.69 billion, a PE ratio of 136.10 and a beta of 1.62. Spotify Technology S.A. has a 1 year low of $209.18 and a 1 year high of $510.84. The firm’s fifty day simple moving average is $472.22 and its 200 day simple moving average is $393.55.

Spotify Technology (NYSE:SPOT) last posted 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). 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 during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. As a group, analysts anticipate that Spotify Technology S.A. will post 5.91 EPS for the current fiscal year.

Spotify Technology Company 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.