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Fiera Capital Corp Grows Position in Spotify Technology (NYSE:SPOT)

Spotify Technology logo with Computer and Technology background

Key Points

  • Fiera Capital Corp increased its stake in Spotify by 30.8%, acquiring an additional 1,969 shares, bringing its total holdings to 8,366 shares worth approximately $4.6 million.
  • Spotify's shares improved by 4.8% recently, with a current market cap of $132.97 billion and a P/E ratio of 157.66.
  • Several analysts updated their price targets for Spotify, with Deutsche Bank raising its target from $700 to $775, indicating a consensus rating of “Moderate Buy” among analysts.
  • Five stocks to consider instead of Spotify Technology.

Fiera Capital Corp increased its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 30.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,366 shares of the company's stock after acquiring an additional 1,969 shares during the quarter. Fiera Capital Corp's holdings in Spotify Technology were worth $4,602,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SPOT. Jennison Associates LLC increased its holdings in Spotify Technology by 42.3% in the 1st quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock valued at $2,336,494,000 after buying an additional 1,262,614 shares during the period. Geode Capital Management LLC increased its holdings in Spotify Technology by 561.6% in the 4th quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock valued at $659,841,000 after buying an additional 1,259,183 shares during the period. Janus Henderson Group PLC increased its holdings in Spotify Technology by 325.9% in the 4th quarter. Janus Henderson Group PLC now owns 1,125,465 shares of the company's stock valued at $503,316,000 after buying an additional 861,232 shares during the period. Northern Trust Corp increased its holdings in Spotify Technology by 103.7% in the 4th quarter. Northern Trust Corp now owns 1,426,902 shares of the company's stock valued at $638,367,000 after buying an additional 726,245 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Spotify Technology by 75,856.5% in the 1st quarter. GAMMA Investing LLC now owns 717,789 shares of the company's stock valued at $394,805,000 after buying an additional 716,844 shares during the period. Institutional investors own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group boosted their target price on shares of Spotify Technology from $775.00 to $850.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. KeyCorp reduced their target price on shares of Spotify Technology from $860.00 to $830.00 and set an "overweight" rating on the stock in a research note on Wednesday. Cantor Fitzgerald boosted their target price on shares of Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. Wolfe Research upgraded shares of Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 target price on the stock in a research note on Monday, April 21st. Finally, Sanford C. Bernstein boosted their target price on shares of Spotify Technology from $825.00 to $840.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Nine analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $718.90.

Check Out Our Latest Stock Report on Spotify Technology

Spotify Technology Stock Up 0.1%

SPOT traded up $0.61 during trading on Friday, hitting $627.15. The company's stock had a trading volume of 2,529,175 shares, compared to its average volume of 2,387,677. Spotify Technology has a twelve month low of $300.57 and a twelve month high of $785.00. The stock's fifty day moving average price is $700.71 and its 200-day moving average price is $623.58. The firm has a market capitalization of $128.38 billion, a P/E ratio of 152.22, a PEG ratio of 2.56 and a beta of 1.70.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($1.16). Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same period last year, the firm posted $0.97 earnings per share. Spotify Technology's quarterly revenue was up 15.2% compared to the same quarter last year. Equities research analysts expect that Spotify Technology will post 10.3 EPS for the current fiscal year.

Spotify Technology Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

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