Cetera Advisors LLC boosted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT – Free Report) by 19.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,185 shares of the company’s stock after purchasing an additional 526 shares during the quarter. Cetera Advisors LLC’s holdings in Spotify Technology were worth $840,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in SPOT. Clearbridge Investments LLC boosted its stake in Spotify Technology by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 6,892 shares of the company’s stock valued at $1,819,000 after acquiring an additional 38 shares during the last quarter. Larson Financial Group LLC raised its stake in Spotify Technology by 86.0% during the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after buying an additional 43 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in Spotify Technology by 32.3% during the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock worth $39,000 after buying an additional 50 shares during the last quarter. Signaturefd LLC grew its position in shares of Spotify Technology by 4.4% in the 4th quarter. Signaturefd LLC now owns 1,222 shares of the company’s stock worth $230,000 after acquiring an additional 51 shares in the last quarter. Finally, Summit Trail Advisors LLC increased its holdings in shares of Spotify Technology by 3.5% in the 4th quarter. Summit Trail Advisors LLC now owns 1,664 shares of the company’s stock valued at $313,000 after acquiring an additional 56 shares during the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.
Spotify Technology Stock Up 0.5 %
Shares of Spotify Technology stock traded up $1.58 during midday trading on Friday, reaching $339.90. 1,213,055 shares of the company’s stock traded hands, compared to its average volume of 2,003,084. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56. Spotify Technology S.A. has a 52 week low of $129.23 and a 52 week high of $359.38. The company’s 50 day simple moving average is $316.28 and its 200 day simple moving average is $285.95. The company has a market cap of $67.66 billion, a price-to-earnings ratio of -507.31 and a beta of 1.59.
Spotify Technology (NYSE:SPOT – Get Free Report) last posted its earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.25. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same period last year, the company earned ($1.69) earnings per share. The business’s revenue was up 19.8% compared to the same quarter last year. Equities analysts expect that Spotify Technology S.A. will post 6.32 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several analysts have weighed in on SPOT shares. Jefferies Financial Group reiterated a “buy” rating and set a $385.00 target price (up previously from $242.00) on shares of Spotify Technology in a research note on Thursday, July 11th. Redburn Atlantic reissued a “sell” rating and issued a $230.00 target price on shares of Spotify Technology in a report on Wednesday, July 10th. Morgan Stanley lifted their target price on Spotify Technology from $370.00 to $400.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. DZ Bank upgraded Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price target on the stock in a research report on Wednesday, July 24th. Finally, HSBC boosted their price objective on Spotify Technology from $310.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. One 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $353.15.
Get Our Latest Research Report on SPOT
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.
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