Sequoia Financial Advisors LLC Has $1.41 Million Holdings in Spotify Technology (NYSE:SPOT)

Sequoia Financial Advisors LLC raised its position in Spotify Technology (NYSE:SPOT - Free Report) by 23.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,560 shares of the company's stock after acquiring an additional 494 shares during the period. Sequoia Financial Advisors LLC's holdings in Spotify Technology were worth $1,408,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. Thrivent Financial for Lutherans raised its position in Spotify Technology by 566.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,980 shares of the company's stock worth $3,541,000 after purchasing an additional 6,782 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Spotify Technology by 4.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,072 shares of the company's stock valued at $927,000 after buying an additional 85 shares in the last quarter. Amundi increased its holdings in shares of Spotify Technology by 194.2% in the fourth quarter. Amundi now owns 750,030 shares of the company's stock valued at $359,812,000 after purchasing an additional 495,087 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Spotify Technology by 18.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 22,598 shares of the company's stock valued at $10,110,000 after buying an additional 3,536 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Spotify Technology by 108.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 150,804 shares of the company's stock worth $67,467,000 after purchasing an additional 78,499 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SPOT. Rosenblatt Securities decreased their price objective on Spotify Technology from $658.00 to $657.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Cantor Fitzgerald upped their target price on shares of Spotify Technology from $610.00 to $640.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. Bank of America upped their price target on Spotify Technology from $700.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday. FBN Securities assumed coverage on Spotify Technology in a report on Friday, March 28th. They issued a "sector perform" rating and a $645.00 price objective for the company. Finally, Pivotal Research raised their price objective on Spotify Technology from $800.00 to $900.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Spotify Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $654.93.

Spotify Technology Stock Down 0.4%

SPOT stock opened at $772.52 on Monday. The company's 50-day moving average price is $664.99 and its two-hundred day moving average price is $584.73. Spotify Technology has a 12 month low of $288.07 and a 12 month high of $785.00. The firm has a market cap of $158.14 billion, a P/E ratio of 128.11, a P/E/G ratio of 2.03 and a beta of 1.68.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($1.16). The firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. Spotify Technology had a net margin of 7.19% and a return on equity of 22.53%. The business's quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.97 EPS. Equities analysts predict that Spotify Technology will post 10.3 EPS for the current year.

About Spotify Technology

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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