Advisor OS LLC grew its stake in Spotify Technology (NYSE:SPOT - Free Report) by 282.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,747 shares of the company's stock after acquiring an additional 1,290 shares during the period. Advisor OS LLC's holdings in Spotify Technology were worth $961,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Jennison Associates LLC increased its position in shares of Spotify Technology by 42.3% during the first quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock worth $2,336,494,000 after acquiring an additional 1,262,614 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Spotify Technology by 3.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,526,988 shares of the company's stock worth $1,939,949,000 after acquiring an additional 112,553 shares during the period. FMR LLC increased its position in shares of Spotify Technology by 30.2% during the fourth quarter. FMR LLC now owns 2,041,387 shares of the company's stock worth $913,276,000 after acquiring an additional 473,569 shares during the period. Schroder Investment Management Group increased its position in shares of Spotify Technology by 0.4% during the fourth quarter. Schroder Investment Management Group now owns 1,912,937 shares of the company's stock worth $855,810,000 after acquiring an additional 7,075 shares during the period. Finally, Geode Capital Management LLC increased its position 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 acquiring an additional 1,259,183 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.
Spotify Technology Stock Up 1.7%
Shares of NYSE SPOT traded up $11.43 during midday trading on Friday, hitting $692.85. The company had a trading volume of 1,756,975 shares, compared to its average volume of 1,713,343. Spotify Technology has a twelve month low of $300.57 and a twelve month high of $785.00. The business has a 50-day simple moving average of $701.36 and a two-hundred day simple moving average of $617.47. The firm has a market capitalization of $141.83 billion, a price-to-earnings ratio of 114.90, a price-to-earnings-growth ratio of 1.81 and a beta of 1.68.
Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data 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 net margin of 7.19% and a return on equity of 22.53%. The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same quarter last year, the business earned $0.97 EPS. The firm's revenue for the quarter was up 15.2% on a year-over-year basis. On average, equities analysts forecast that Spotify Technology will post 10.3 EPS for the current year.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on SPOT. UBS Group upped their price objective on Spotify Technology from $680.00 to $895.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Phillip Securities upgraded shares of Spotify Technology to a "moderate sell" rating in a report on Monday, May 5th. Oppenheimer upgraded shares of Spotify Technology from a "market perform" rating to an "outperform" rating and set a $800.00 price target for the company in a report on Thursday. Barclays boosted their price target on shares of Spotify Technology from $650.00 to $800.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Finally, FBN Securities began coverage on shares of Spotify Technology in a report on Friday, March 28th. They set a "sector perform" rating and a $645.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $727.52.
Read Our Latest Research Report on SPOT
About Spotify Technology
(
Free Report)
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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