Thurston Springer Miller Herd & Titak Inc. Has $76,000 Stock Position in Spotify Technology $SPOT

Thurston Springer Miller Herd & Titak Inc. lessened its stake in shares of Spotify Technology (NYSE:SPOT) by 92.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 109 shares of the company’s stock after selling 1,291 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Spotify Technology were worth $76,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Knuff & Co LLC acquired a new position in Spotify Technology in the 2nd quarter worth about $27,000. Total Investment Management Inc. acquired a new stake in shares of Spotify Technology during the second quarter valued at about $29,000. Heartwood Wealth Advisors LLC bought a new stake in shares of Spotify Technology during the third quarter worth about $27,000. Sound Income Strategies LLC grew its holdings in shares of Spotify Technology by 156.3% during the second quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock worth $31,000 after purchasing an additional 25 shares during the last quarter. Finally, GFG Capital LLC acquired a new position in shares of Spotify Technology in the second quarter valued at approximately $33,000. 84.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Cantor Fitzgerald lifted their target price on shares of Spotify Technology from $640.00 to $675.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. The Goldman Sachs Group lowered shares of Spotify Technology from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $765.00 to $770.00 in a report on Tuesday, September 30th. BNP Paribas raised shares of Spotify Technology to a “strong-buy” rating in a research note on Tuesday, September 16th. Citigroup raised their target price on Spotify Technology from $715.00 to $750.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 9th. Finally, Benchmark lifted their target price on Spotify Technology from $800.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $760.23.

Spotify Technology Stock Down 2.2%

SPOT stock opened at $566.43 on Thursday. The firm has a market cap of $116.62 billion, a price-to-earnings ratio of 89.06, a PEG ratio of 1.91 and a beta of 1.66. The company’s fifty day simple moving average is $625.20 and its 200 day simple moving average is $675.68. Spotify Technology has a 12-month low of $443.21 and a 12-month high of $785.00.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $1.96. The firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.23 billion. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.The business’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business posted $1.45 EPS. Research analysts expect that Spotify Technology will post 10.3 earnings per share for the current year.

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.