LVW Advisors LLC Buys 424 Shares of Spotify Technology S.A. (NYSE:SPOT)

LVW Advisors LLC boosted its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 65.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,076 shares of the company's stock after acquiring an additional 424 shares during the period. LVW Advisors LLC's holdings in Spotify Technology were worth $592,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC acquired a new stake in Spotify Technology during the 4th quarter worth approximately $1,335,575,000. GQG Partners LLC purchased a new stake in Spotify Technology during the fourth quarter worth approximately $800,725,000. Geode Capital Management LLC increased its position in shares of Spotify Technology by 561.6% in 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 in the last quarter. Norges Bank purchased a new position in shares of Spotify Technology in the 4th quarter valued at $396,028,000. Finally, Janus Henderson Group PLC raised its stake in shares of Spotify Technology by 325.9% in the 4th quarter. Janus Henderson Group PLC now owns 1,125,465 shares of the company's stock valued at $503,316,000 after acquiring an additional 861,232 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SPOT shares. Phillip Securities upgraded Spotify Technology to a "moderate sell" rating in a research report on Monday, May 5th. Wolfe Research raised shares of Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 price target for the company in a report on Monday, April 21st. Evercore ISI cut their price objective on Spotify Technology from $700.00 to $650.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Robert W. Baird upped their price target on Spotify Technology from $700.00 to $730.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, Macquarie lifted their price objective on Spotify Technology from $600.00 to $665.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $611.14.

Spotify Technology Stock Performance

SPOT traded up $30.45 during mid-day trading on Wednesday, reaching $701.52. The stock had a trading volume of 2,523,616 shares, compared to its average volume of 2,224,181. The stock has a market capitalization of $143.61 billion, a P/E ratio of 117.90 and a beta of 1.72. Spotify Technology S.A. has a 52 week low of $288.07 and a 52 week high of $708.12. The firm's fifty day simple moving average is $603.63 and its two-hundred day simple moving average is $553.77.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its 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). Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same period in the previous year, the company posted $0.97 EPS. The company's quarterly revenue was up 15.2% compared to the same quarter last year. As a group, analysts expect that Spotify Technology S.A. will post 10.3 EPS 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.