Circle Wealth Management LLC acquired a new position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,864 shares of the company's stock, valued at approximately $1,281,000.
Several other hedge funds also recently modified their holdings of SPOT. Auxano Advisors LLC boosted its stake in Spotify Technology by 2.5% in the fourth quarter. Auxano Advisors LLC now owns 828 shares of the company's stock valued at $370,000 after acquiring an additional 20 shares during the last quarter. SRS Capital Advisors Inc. raised its holdings in Spotify Technology by 4.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock worth $256,000 after purchasing an additional 25 shares during the period. Covenant Partners LLC raised its holdings in Spotify Technology by 2.5% in the fourth quarter. Covenant Partners LLC now owns 1,024 shares of the company's stock worth $458,000 after purchasing an additional 25 shares during the period. First Horizon Advisors Inc. raised its holdings in Spotify Technology by 5.4% in the fourth quarter. First Horizon Advisors Inc. now owns 504 shares of the company's stock worth $225,000 after purchasing an additional 26 shares during the period. Finally, Harbour Investments Inc. raised its holdings in Spotify Technology by 13.3% in the fourth quarter. Harbour Investments Inc. now owns 222 shares of the company's stock worth $99,000 after purchasing an additional 26 shares during the period. Institutional investors and hedge funds own 84.09% of the company's stock.
Spotify Technology Stock Up 0.5%
Shares of SPOT stock traded up $3.14 during mid-day trading on Tuesday, reaching $623.95. 1,522,268 shares of the company's stock traded hands, compared to its average volume of 2,504,681. The company has a market cap of $127.73 billion, a P/E ratio of 104.87 and a beta of 1.72. Spotify Technology S.A. has a 12 month low of $286.20 and a 12 month high of $663.55. The company's 50-day moving average price is $576.15 and its 200-day moving average price is $527.61.
Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.29 by ($1.16). The business had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.22 billion. Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The business's quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.97 EPS. Equities analysts predict that Spotify Technology S.A. will post 10.3 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on SPOT shares. Barclays dropped their price objective on shares of Spotify Technology from $710.00 to $650.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Guggenheim raised their target price on shares of Spotify Technology from $675.00 to $725.00 and gave the company a "buy" rating in a research report on Monday. Phillip Securities raised shares of Spotify Technology to a "moderate sell" rating in a research report on Monday, May 5th. Citigroup raised their target price on shares of Spotify Technology from $540.00 to $720.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Finally, Canaccord Genuity Group lifted their price objective on shares of Spotify Technology from $650.00 to $700.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, Spotify Technology presently has a consensus rating of "Moderate Buy" and an average target price of $606.48.
Read Our Latest Stock Analysis on SPOT
Spotify Technology 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.
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