Kestra Private Wealth Services LLC Has $3.04 Million Stake in Spotify Technology (NYSE:SPOT)

Kestra Private Wealth Services LLC increased its position in Spotify Technology (NYSE:SPOT - Free Report) by 290.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,518 shares of the company's stock after purchasing an additional 4,106 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Spotify Technology were worth $3,035,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC bought a new position in Spotify Technology in the 4th quarter valued at about $281,000. Harbour Investments Inc. increased its stake in shares of Spotify Technology by 13.3% during the fourth quarter. Harbour Investments Inc. now owns 222 shares of the company's stock worth $99,000 after purchasing an additional 26 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Spotify Technology by 566.1% during 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 during the period. American Century Companies Inc. increased its stake in shares of Spotify Technology by 16.5% during the fourth quarter. American Century Companies Inc. now owns 236,360 shares of the company's stock worth $105,743,000 after purchasing an additional 33,470 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Spotify Technology during the fourth quarter worth approximately $27,000. Institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Performance

Shares of NYSE:SPOT traded up $17.99 during trading on Friday, reaching $699.41. The stock had a trading volume of 577,035 shares, compared to its average volume of 2,235,394. The stock has a market cap of $143.17 billion, a price-to-earnings ratio of 115.99, a P/E/G ratio of 1.79 and a beta of 1.68. The firm's fifty day moving average is $700.63 and its 200 day moving average is $615.88. Spotify Technology has a 52 week low of $300.57 and a 52 week high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced 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 7.19% and a return on equity of 22.53%. The firm's revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.97 EPS. On average, research analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. KeyCorp raised their target price on shares of Spotify Technology from $640.00 to $860.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. FBN Securities began coverage on Spotify Technology in a research note on Friday, March 28th. They set a "sector perform" rating and a $645.00 price objective on the stock. Robert W. Baird raised their price objective on Spotify Technology from $700.00 to $730.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Barclays raised their price target on Spotify Technology from $650.00 to $800.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Finally, Cantor Fitzgerald raised their target price on shares of Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, Spotify Technology presently has an average rating of "Moderate Buy" and a consensus price target of $727.52.

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.