Spotify Technology S.A. (NYSE:SPOT) Stock Holdings Lifted by Farther Finance Advisors LLC

Farther Finance Advisors LLC grew its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 17.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,391 shares of the company's stock after purchasing an additional 357 shares during the quarter. Farther Finance Advisors LLC's holdings in Spotify Technology were worth $1,319,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Mpwm Advisory Solutions LLC bought a new stake in Spotify Technology during the 4th quarter valued at $26,000. Hillsdale Investment Management Inc. bought a new stake in shares of Spotify Technology during the fourth quarter worth about $27,000. Copia Wealth Management acquired a new stake in shares of Spotify Technology in the 4th quarter worth about $29,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in Spotify Technology by 209.1% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 68 shares of the company's stock valued at $37,000 after acquiring an additional 46 shares in the last quarter. Finally, Quent Capital LLC boosted its stake in Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock valued at $44,000 after purchasing an additional 57 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SPOT. Robert W. Baird boosted their target price on Spotify Technology from $700.00 to $730.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. FBN Securities assumed coverage on Spotify Technology in a research report on Friday, March 28th. They set a "sector perform" rating and a $645.00 target price for the company. Wells Fargo & Company lifted their target price on Spotify Technology from $690.00 to $740.00 and gave the stock an "overweight" rating in a research note on Friday, March 28th. Sanford C. Bernstein upgraded shares of Spotify Technology to a "strong-buy" rating in a research report on Tuesday, June 3rd. Finally, Citigroup lifted their price objective on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Eight equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $611.14.

Spotify Technology Price Performance

SPOT stock traded down $7.28 during midday trading on Thursday, hitting $701.86. The stock had a trading volume of 1,021,429 shares, compared to its average volume of 2,212,577. The firm has a market cap of $143.68 billion, a PE ratio of 117.96 and a beta of 1.68. The company's 50-day moving average price is $622.37 and its 200 day moving average price is $562.99. Spotify Technology S.A. has a 12-month low of $288.07 and a 12-month high of $717.87.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly 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). Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period last year, the firm posted $0.97 earnings per share. The business's revenue was up 15.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Spotify Technology S.A. will post 10.3 EPS for the current 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.