Left Brain Wealth Management LLC Has $452,000 Stock Holdings in Spotify Technology (NYSE:SPOT)

Left Brain Wealth Management LLC lessened its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 30.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 822 shares of the company's stock after selling 360 shares during the period. Left Brain Wealth Management LLC's holdings in Spotify Technology were worth $452,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Thrivent Financial for Lutherans lifted its holdings in shares of Spotify Technology by 566.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 7,980 shares of the company's stock valued at $3,541,000 after purchasing an additional 6,782 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Spotify Technology by 18.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 22,598 shares of the company's stock worth $10,110,000 after purchasing an additional 3,536 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Spotify Technology by 36.3% during the 1st quarter. QRG Capital Management Inc. now owns 710 shares of the company's stock worth $391,000 after purchasing an additional 189 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Spotify Technology by 16.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,543 shares of the company's stock worth $4,699,000 after purchasing an additional 1,179 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Spotify Technology by 38.1% during the 1st quarter. GAMMA Investing LLC now owns 1,305 shares of the company's stock worth $718,000 after purchasing an additional 360 shares during the last quarter. Institutional investors own 84.09% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on SPOT shares. FBN Securities began coverage on Spotify Technology in a report on Friday, March 28th. They set a "sector perform" rating and a $645.00 target price on the stock. Phillip Securities upgraded Spotify Technology to a "moderate sell" rating in a research report on Monday, May 5th. Bank of America upped their target price on Spotify Technology from $700.00 to $900.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. China Renaissance initiated coverage on Spotify Technology in a research report on Wednesday, March 26th. They set a "buy" rating and a $740.00 target price for the company. Finally, The Goldman Sachs Group upped their target price on Spotify Technology from $680.00 to $775.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $701.31.

Spotify Technology Trading Down 0.2%

SPOT traded down $1.13 on Friday, reaching $708.82. The stock had a trading volume of 1,267,406 shares, compared to its average volume of 2,222,043. Spotify Technology has a fifty-two week low of $288.07 and a fifty-two week high of $785.00. The firm has a 50-day moving average of $689.79 and a 200-day moving average of $601.90. The company has a market capitalization of $145.10 billion, a price-to-earnings ratio of 117.55, a price-to-earnings-growth ratio of 1.87 and a beta of 1.68.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share for the quarter, missing the consensus estimate of $2.29 by ($1.16). The company 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 company's quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 EPS. Sell-side analysts anticipate that Spotify Technology will post 10.3 EPS for the current fiscal 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.