Scientech Research LLC boosted its stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 35.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,021 shares of the company's stock after acquiring an additional 1,847 shares during the quarter. Spotify Technology comprises about 0.9% of Scientech Research LLC's investment portfolio, making the stock its 3rd biggest position. Scientech Research LLC's holdings in Spotify Technology were worth $3,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in Spotify Technology by 11.8% during the 3rd quarter. Principal Financial Group Inc. now owns 39,578 shares of the company's stock valued at $14,586,000 after acquiring an additional 4,192 shares in the last quarter. Brookstone Capital Management raised its stake in shares of Spotify Technology by 8.6% during the 4th quarter. Brookstone Capital Management now owns 1,411 shares of the company's stock valued at $631,000 after buying an additional 112 shares during the last quarter. Park Avenue Securities LLC raised its position in Spotify Technology by 45.3% during the fourth quarter. Park Avenue Securities LLC now owns 5,062 shares of the company's stock valued at $2,264,000 after acquiring an additional 1,578 shares in the last quarter. Gateway Investment Advisers LLC raised its position in Spotify Technology by 630.5% during the fourth quarter. Gateway Investment Advisers LLC now owns 8,277 shares of the company's stock valued at $3,703,000 after acquiring an additional 7,144 shares in the last quarter. Finally, Ritholtz Wealth Management increased its stake in shares of Spotify Technology by 27.6% in the 4th quarter. Ritholtz Wealth Management now owns 5,736 shares of the company's stock valued at $2,566,000 after purchasing an additional 1,241 shares in the last quarter. 84.09% of the stock is owned by institutional investors.
Spotify Technology Stock Performance
Shares of Spotify Technology stock traded down $6.10 during trading hours on Tuesday, hitting $658.52. The company's stock had a trading volume of 1,389,300 shares, compared to its average volume of 2,195,813. Spotify Technology S.A. has a twelve month low of $288.07 and a twelve month high of $669.00. The firm has a fifty day moving average of $588.18 and a 200-day moving average of $536.48. The stock has a market cap of $134.80 billion, a price-to-earnings ratio of 110.68 and a beta of 1.72.
Spotify Technology (NYSE:SPOT - Get Free Report) last announced 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). The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. The business's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period last year, the company earned $0.97 EPS. On average, sell-side analysts expect that Spotify Technology S.A. will post 10.3 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several brokerages recently weighed in on SPOT. Morgan Stanley lifted their price target on Spotify Technology from $550.00 to $670.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. China Renaissance began coverage on Spotify Technology in a research note on Wednesday, March 26th. They issued a "buy" rating and a $740.00 price target for the company. Canaccord Genuity Group lifted their price target on Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a research note on Tuesday. Redburn Atlantic started coverage on Spotify Technology in a research note on Tuesday, March 11th. They set a "neutral" rating and a $545.00 price objective for the company. Finally, Evercore ISI cut their price objective on Spotify Technology from $700.00 to $650.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $609.07.
Check Out Our Latest Analysis on SPOT
Spotify Technology Company 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.
Featured Stories
Before you consider Spotify Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Spotify Technology wasn't on the list.
While Spotify Technology currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
