Whittier Trust Co. of Nevada Inc. Has $894,000 Stake in Spotify Technology (NYSE:SPOT)

Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 78.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,625 shares of the company's stock after purchasing an additional 716 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in Spotify Technology were worth $894,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of SPOT. Proficio Capital Partners LLC bought a new position in Spotify Technology in the fourth quarter worth about $281,000. Commonwealth Equity Services LLC lifted its holdings in Spotify Technology by 14.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 14,522 shares of the company's stock worth $6,497,000 after acquiring an additional 1,797 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Spotify Technology by 13.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 10,112 shares of the company's stock worth $4,524,000 after acquiring an additional 1,229 shares during the last quarter. Harbour Investments Inc. lifted 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 acquiring an additional 26 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its holdings in Spotify Technology by 680.6% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 281 shares of the company's stock worth $126,000 after acquiring an additional 245 shares during the last quarter. Institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Down 3.6%

NYSE:SPOT traded down $26.01 during trading hours on Friday, reaching $694.90. 2,148,528 shares of the company's stock were exchanged, compared to its average volume of 2,259,199. The company has a market capitalization of $142.25 billion, a P/E ratio of 115.24, a price-to-earnings-growth ratio of 1.88 and a beta of 1.68. Spotify Technology has a 12 month low of $290.13 and a 12 month high of $785.00. The business's 50-day simple moving average is $695.14 and its two-hundred day simple moving average is $608.01.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $4.22 billion. During the same period in the prior year, the business posted $0.97 EPS. The company's revenue for the quarter was up 15.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SPOT. Macquarie raised their target price on shares of Spotify Technology from $600.00 to $665.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. FBN Securities began 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. Pivotal Research raised their price target on shares of Spotify Technology from $800.00 to $900.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Loop Capital raised their price target on shares of Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. Finally, Cantor Fitzgerald raised their price target on shares of Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, Spotify Technology has a consensus rating of "Moderate Buy" and a consensus target price of $701.31.

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.