Snowden Capital Advisors LLC Buys 568 Shares of Spotify Technology S.A. (NYSE:SPOT)

Snowden Capital Advisors LLC raised its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 11.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,677 shares of the company's stock after purchasing an additional 568 shares during the period. Snowden Capital Advisors LLC's holdings in Spotify Technology were worth $2,540,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Hillsdale Investment Management Inc. purchased a new position in Spotify Technology during the fourth quarter worth about $27,000. Quent Capital LLC raised its holdings in shares of Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock worth $44,000 after purchasing an additional 57 shares during the period. Noble Wealth Management PBC acquired a new stake in shares of Spotify Technology in the fourth quarter valued at about $52,000. Colonial Trust Co SC grew its stake in shares of Spotify Technology by 1,009.1% in the fourth quarter. Colonial Trust Co SC now owns 122 shares of the company's stock valued at $55,000 after buying an additional 111 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Spotify Technology by 48.5% in the fourth quarter. Larson Financial Group LLC now owns 144 shares of the company's stock valued at $64,000 after buying an additional 47 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Wall Street Analysts Forecast Growth

SPOT has been the topic of a number of research analyst reports. Barclays reduced their target price on Spotify Technology from $710.00 to $650.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. The Goldman Sachs Group raised their price target on Spotify Technology from $550.00 to $695.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. lifted their target price on Spotify Technology from $640.00 to $670.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Redburn Atlantic initiated coverage on Spotify Technology in a research report on Tuesday, March 11th. They set a "neutral" rating and a $545.00 price target on the stock. Finally, UBS Group lowered their price target on Spotify Technology from $690.00 to $680.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Eight equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $609.07.

Spotify Technology Stock Performance

NYSE SPOT traded down $6.10 on Tuesday, hitting $658.52. The stock had a trading volume of 1,389,300 shares, compared to its average volume of 2,195,813. The firm has a 50-day moving average of $590.56 and a 200-day moving average of $537.33. The company has a market capitalization of $134.80 billion, a price-to-earnings ratio of 110.68 and a beta of 1.72. Spotify Technology S.A. has a 52-week low of $288.07 and a 52-week high of $669.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its 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). The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. Spotify Technology's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 EPS. As a group, research analysts anticipate that Spotify Technology S.A. will post 10.3 earnings per share for the current fiscal 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.