Summit Trail Advisors LLC Purchases 732 Shares of Spotify Technology S.A. (NYSE:SPOT)

Summit Trail Advisors LLC boosted its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 30.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,157 shares of the company’s stock after acquiring an additional 732 shares during the quarter. Summit Trail Advisors LLC’s holdings in Spotify Technology were worth $1,412,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC bought a new position in shares of Spotify Technology in the third quarter valued at about $26,000. Hobbs Group Advisors LLC bought a new position in shares of Spotify Technology in the third quarter valued at about $33,000. Larson Financial Group LLC raised its position 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 purchasing an additional 33 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Spotify Technology in the third quarter valued at about $40,000. Finally, Rakuten Securities Inc. raised its position in shares of Spotify Technology by 40.5% in the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after purchasing an additional 32 shares during the period. 84.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SPOT has been the topic of several research analyst reports. TD Cowen increased their price objective on shares of Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. Wells Fargo & Company increased their price objective on shares of Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Macquarie upped their price target on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Barclays upped their price target on shares of Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Finally, UBS Group upped their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $514.79.

Spotify Technology Trading Up 2.4 %

SPOT stock opened at $637.88 on Tuesday. The stock has a market capitalization of $126.97 billion, a P/E ratio of 107.21 and a beta of 1.63. Spotify Technology S.A. has a 12 month low of $228.07 and a 12 month high of $642.27. The firm has a 50-day moving average price of $493.96 and a 200-day moving average price of $415.80.

Spotify Technology (NYSE:SPOT) last posted its 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 company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The firm’s revenue was up 18.8% compared to the same quarter last year. During the same period last year, the company posted $0.36 EPS. As a group, equities analysts predict that Spotify Technology S.A. will post 9.69 EPS for the current fiscal year.

About Spotify Technology

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.