Spotify Technology S.A. (NYSE:SPOT) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. decreased its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 46.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,026 shares of the company's stock after selling 907 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Spotify Technology were worth $459,000 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 SPOT. Fifth Third Bancorp lifted its stake in shares of Spotify Technology by 44.4% in the 4th quarter. Fifth Third Bancorp now owns 231 shares of the company's stock valued at $103,000 after purchasing an additional 71 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Spotify Technology by 17.2% during the 4th quarter. Geneos Wealth Management Inc. now owns 396 shares of the company's stock valued at $177,000 after acquiring an additional 58 shares during the last quarter. Hantz Financial Services Inc. acquired a new position in shares of Spotify Technology during the 4th quarter valued at about $1,556,000. Highland Capital Management LLC bought a new position in shares of Spotify Technology in the 4th quarter valued at approximately $870,000. Finally, Mediolanum International Funds Ltd acquired a new stake in Spotify Technology in the 4th quarter worth approximately $20,484,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SPOT has been the topic of several recent analyst reports. KeyCorp dropped their price target on Spotify Technology from $675.00 to $625.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Benchmark upped their price objective on shares of Spotify Technology from $600.00 to $720.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Phillip Securities upgraded shares of Spotify Technology to a "moderate sell" rating in a research note on Monday, May 5th. Canaccord Genuity Group upped their price objective on Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Spotify Technology from $640.00 to $670.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Eight research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, Spotify Technology presently has an average rating of "Moderate Buy" and a consensus target price of $609.07.

Spotify Technology Price Performance

Shares of Spotify Technology stock traded up $5.99 during trading on Monday, hitting $671.13. The stock had a trading volume of 1,860,180 shares, compared to its average volume of 2,226,077. Spotify Technology S.A. has a 12 month low of $288.07 and a 12 month high of $674.00. The firm's fifty day simple moving average is $599.93 and its 200-day simple moving average is $551.47. The stock has a market cap of $137.38 billion, a PE ratio of 112.79 and a beta of 1.72.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. Spotify Technology's quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.97 EPS. Analysts expect that Spotify Technology S.A. will post 10.3 earnings per share for the current fiscal year.

Spotify Technology Company 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.