Dakota Wealth Management Grows Holdings in Spotify Technology (NYSE:SPOT)

Dakota Wealth Management lifted its position in shares of Spotify Technology (NYSE:SPOT - Free Report) by 192.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,699 shares of the company's stock after purchasing an additional 4,408 shares during the quarter. Dakota Wealth Management's holdings in Spotify Technology were worth $3,685,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. GQG Partners LLC bought a new stake in Spotify Technology in the fourth quarter valued at about $800,725,000. Geode Capital Management LLC increased its stake in shares of Spotify Technology by 561.6% during the fourth quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock worth $659,841,000 after purchasing an additional 1,259,183 shares during the period. Norges Bank bought a new position in shares of Spotify Technology during the fourth quarter worth approximately $396,028,000. Janus Henderson Group PLC boosted its holdings in shares of 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 purchasing an additional 861,232 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Spotify Technology by 103.7% during the 4th quarter. Northern Trust Corp now owns 1,426,902 shares of the company's stock valued at $638,367,000 after acquiring an additional 726,245 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SPOT shares. China Renaissance began coverage on Spotify Technology in a research note on Wednesday, March 26th. They issued a "buy" rating and a $740.00 target price on the stock. Loop Capital increased their price target on shares of Spotify Technology from $435.00 to $550.00 and gave the stock a "hold" rating in a research note on Friday, May 2nd. FBN Securities started coverage on shares of Spotify Technology in a report on Friday, March 28th. They issued a "sector perform" rating and a $645.00 target price on the stock. Rosenblatt Securities decreased their price objective on shares of Spotify Technology from $658.00 to $657.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Finally, UBS Group boosted their target price on shares of Spotify Technology from $680.00 to $895.00 and gave the stock a "buy" rating in a report on Friday, June 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $701.31.

Spotify Technology Stock Down 1.0%

Shares of SPOT traded down $7.13 during trading on Tuesday, reaching $710.37. 1,809,070 shares of the company traded hands, compared to its average volume of 2,220,840. Spotify Technology has a twelve month low of $288.07 and a twelve month high of $785.00. The stock has a market cap of $145.42 billion, a PE ratio of 117.81, a price-to-earnings-growth ratio of 1.88 and a beta of 1.68. The stock has a 50-day simple moving average of $691.37 and a 200-day simple moving average of $604.73.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.13 EPS for the quarter, missing the consensus estimate of $2.29 by ($1.16). Spotify Technology had a return on equity of 22.53% and a net margin of 7.19%. The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same quarter last year, the firm earned $0.97 EPS. The company's revenue was up 15.2% on a year-over-year basis. On average, equities research analysts predict that Spotify Technology will post 10.3 EPS 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.