Pathstone Holdings LLC Boosts Holdings in Spotify Technology S.A. (NYSE:SPOT)

Pathstone Holdings LLC raised its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 8.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,228 shares of the company's stock after buying an additional 1,970 shares during the quarter. Pathstone Holdings LLC's holdings in Spotify Technology were worth $11,734,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hillsdale Investment Management Inc. bought a new position in Spotify Technology during the fourth quarter worth $27,000. Quent Capital LLC increased its position in Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock valued at $44,000 after buying an additional 57 shares in the last quarter. Noble Wealth Management PBC acquired a new stake in Spotify Technology in the fourth quarter valued at approximately $52,000. Colonial Trust Co SC grew its stake in Spotify Technology by 1,009.1% in the fourth quarter. Colonial Trust Co SC now owns 122 shares of the company's stock valued at $55,000 after acquiring an additional 111 shares during the period. Finally, Larson Financial Group LLC increased its holdings in shares of Spotify Technology by 48.5% during the fourth quarter. Larson Financial Group LLC now owns 144 shares of the company's stock valued at $64,000 after acquiring an additional 47 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Performance

Spotify Technology stock traded down $6.10 during mid-day trading on Tuesday, reaching $658.52. The company's stock had a trading volume of 1,388,898 shares, compared to its average volume of 2,481,226. The firm's fifty day moving average price is $588.18 and its two-hundred day moving average price is $536.48. Spotify Technology S.A. has a 12-month low of $288.07 and a 12-month high of $669.00. The company has a market capitalization of $134.80 billion, a P/E ratio of 110.68 and a beta of 1.72.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.13 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the previous year, the business earned $0.97 earnings per share. Spotify Technology's revenue was up 15.2% on a year-over-year basis. On average, research analysts predict that Spotify Technology S.A. will post 10.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SPOT has been the subject of several research reports. China Renaissance initiated coverage on shares of Spotify Technology in a research report on Wednesday, March 26th. They issued a "buy" rating and a $740.00 price target for the company. Evercore ISI dropped their price target on shares of Spotify Technology from $700.00 to $650.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. UBS Group lowered their price objective on Spotify Technology from $690.00 to $680.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. The Goldman Sachs Group lifted their target price on Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Finally, Loop Capital increased their price target on Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a research report on Friday, May 2nd. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $609.07.

Spotify Technology Company 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.