Vestmark Advisory Solutions Inc. purchased a new position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,203 shares of the company's stock, valued at approximately $2,105,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SPOT. First Horizon Advisors Inc. raised its position in Spotify Technology by 195.0% during the third quarter. First Horizon Advisors Inc. now owns 177 shares of the company's stock valued at $27,000 after acquiring an additional 117 shares in the last quarter. Pinnacle Bancorp Inc. acquired a new stake in shares of Spotify Technology in the fourth quarter worth about $29,000. GAMMA Investing LLC bought a new stake in shares of Spotify Technology during the 4th quarter worth about $32,000. Lindbrook Capital LLC raised its stake in shares of Spotify Technology by 32.3% in the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the company's stock valued at $39,000 after acquiring an additional 50 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC boosted its position in Spotify Technology by 2,540.0% during the third quarter. Beaird Harris Wealth Management LLC now owns 264 shares of the company's stock worth $41,000 after purchasing an additional 254 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.
Spotify Technology Trading Up 0.6 %
NYSE SPOT traded up $1.90 during midday trading on Friday, hitting $296.07. The company had a trading volume of 1,503,922 shares, compared to its average volume of 3,020,316. The firm has a 50-day moving average price of $275.53 and a 200-day moving average price of $224.21. The company has a market capitalization of $56.31 billion, a PE ratio of -441.89 and a beta of 1.61. Spotify Technology S.A. has a twelve month low of $129.23 and a twelve month high of $319.30.
Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.42. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.87 billion. Spotify Technology had a negative return on equity of 4.39% and a negative net margin of 0.80%. During the same quarter in the previous year, the firm earned ($1.24) earnings per share. On average, equities analysts anticipate that Spotify Technology S.A. will post 4.78 EPS for the current year.
Wall Street Analyst Weigh In
Several research analysts recently commented on SPOT shares. Loop Capital lifted their target price on shares of Spotify Technology from $165.00 to $250.00 and gave the stock a "hold" rating in a report on Monday, April 22nd. Macquarie increased their target price on Spotify Technology from $300.00 to $330.00 and gave the company an "outperform" rating in a research note on Monday, April 22nd. Morgan Stanley lifted their price target on Spotify Technology from $270.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, April 22nd. JPMorgan Chase & Co. increased their price target on shares of Spotify Technology from $320.00 to $365.00 and gave the company an "overweight" rating in a report on Wednesday, April 24th. Finally, Guggenheim boosted their price objective on shares of Spotify Technology from $290.00 to $350.00 and gave the stock a "buy" rating in a report on Wednesday, April 24th. Eight research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $301.81.
Check Out Our Latest Research Report on Spotify Technology
Spotify Technology Profile
(
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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