SeaCrest Wealth Management LLC increased its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 41.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,552 shares of the company's stock after acquiring an additional 746 shares during the quarter. SeaCrest Wealth Management LLC's holdings in Spotify Technology were worth $1,404,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of SPOT. Yousif Capital Management LLC boosted its position in Spotify Technology by 46.4% during the fourth quarter. Yousif Capital Management LLC now owns 6,858 shares of the company's stock valued at $3,068,000 after purchasing an additional 2,174 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position in Spotify Technology by 39.9% in the 4th quarter. Stratos Wealth Partners LTD. now owns 1,248 shares of the company's stock valued at $558,000 after buying an additional 356 shares during the last quarter. Stratos Wealth Advisors LLC boosted its position in Spotify Technology by 8.0% in the 4th quarter. Stratos Wealth Advisors LLC now owns 1,736 shares of the company's stock valued at $777,000 after buying an additional 128 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Spotify Technology by 9.8% in the 4th quarter. Bleakley Financial Group LLC now owns 2,322 shares of the company's stock valued at $1,039,000 after purchasing an additional 207 shares during the period. Finally, Financial Advocates Investment Management raised its stake in Spotify Technology by 6.0% during the 4th quarter. Financial Advocates Investment Management now owns 1,183 shares of the company's stock worth $529,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 84.09% of the company's stock.
Spotify Technology Stock Performance
Shares of NYSE:SPOT opened at $712.24 on Friday. The company has a fifty day moving average of $612.90 and a 200-day moving average of $558.29. The company has a market capitalization of $145.80 billion, a PE ratio of 119.70 and a beta of 1.72. Spotify Technology S.A. has a 52-week low of $288.07 and a 52-week high of $717.87.
Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 earnings per share for the quarter, missing analysts' consensus estimates 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 quarter in the previous year, the company earned $0.97 earnings per share. The business's revenue for the quarter was up 15.2% on a year-over-year basis. On average, equities analysts forecast that Spotify Technology S.A. will post 10.3 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on SPOT. UBS Group reiterated an "overweight" rating on shares of Spotify Technology in a report on Friday. Loop Capital boosted their price target on Spotify Technology from $435.00 to $550.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. boosted their price target on Spotify Technology from $670.00 to $730.00 and gave the stock an "overweight" rating in a research report on Wednesday. Barclays reduced their price objective on Spotify Technology from $710.00 to $650.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Finally, Guggenheim restated a "buy" rating on shares of Spotify Technology in a report on Friday. Eight research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $611.14.
Get Our Latest Stock 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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