Spotify Technology S.A. (NYSE:SPOT) Position Increased by Signaturefd LLC

Signaturefd LLC raised its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,222 shares of the company’s stock after purchasing an additional 51 shares during the period. Signaturefd LLC’s holdings in Spotify Technology were worth $230,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SPOT. Pinnacle Bancorp Inc. acquired a new stake in shares of Spotify Technology in the 4th quarter worth about $29,000. First Horizon Advisors Inc. increased its holdings in shares of Spotify Technology by 195.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock worth $27,000 after acquiring an additional 117 shares during the period. Lindbrook Capital LLC increased its holdings in shares of Spotify Technology by 32.3% in the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock worth $39,000 after acquiring an additional 50 shares during the period. Beaird Harris Wealth Management LLC increased its holdings in shares of Spotify Technology by 2,540.0% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 264 shares of the company’s stock worth $41,000 after acquiring an additional 254 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Spotify Technology in the 4th quarter worth about $54,000. Institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SPOT. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Spotify Technology from $260.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Pivotal Research increased their price objective on shares of Spotify Technology from $390.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. JPMorgan Chase & Co. raised their price target on Spotify Technology from $320.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday. Raymond James lifted their price objective on shares of Spotify Technology from $260.00 to $320.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Finally, Benchmark lifted their price objective on shares of Spotify Technology from $325.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday. 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $301.81.

Spotify Technology Price Performance

Shares of SPOT opened at $289.59 on Friday. The business’s 50-day moving average price is $271.48 and its 200 day moving average price is $219.09. Spotify Technology S.A. has a 1-year low of $128.67 and a 1-year high of $319.30.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.42. The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations 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 last year, the business posted ($1.24) EPS. On average, equities research analysts anticipate that Spotify Technology S.A. will post 4.49 earnings per share for the current year.

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.