Cetera Advisors LLC increased its holdings in Spotify Technology SA (NYSE: SPOT – Free Report ) by 19.8% during the first quarter, according to its latest 13F filing with the Securities and Exchange Commission. The fund bought an additional 526 shares during the quarter, giving it a holding of 3,185 shares of the company. Cetera Advisors LLC's holdings in Spotify Technology were worth $840,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings in SPOT. Clearbridge Investments LLC increased its holdings in Spotify Technology by 0.6% in the first quarter. Clearbridge Investments LLC now holds 6,892 shares of the company's stock valued at $1,819,000 after purchasing an additional 38 shares in the last quarter. Larson Financial Group LLC increased its holdings in Spotify Technology by 86.0% in the first quarter. Larson Financial Group LLC now holds 93 shares of the company's stock valued at $25,000 after purchasing an additional 43 shares in the last quarter. Lindbrook Capital LLC increased its holdings in Spotify Technology by 32.3% in the fourth quarter. Lindbrook Capital LLC now holds 205 shares of the company's stock valued at $39,000 after purchasing an additional 50 shares in the last quarter. Signaturefd LLC increased its holdings in Spotify Technology by 4.4% in the fourth quarter. Signaturefd LLC acquired an additional 51 shares in the last quarter and now owns 1,222 shares valued at $230,000. Finally, Summit Trail Advisors LLC increased its holdings in Spotify Technology shares by 3.5% in the fourth quarter. Summit Trail Advisors LLC acquired an additional 56 shares in the last quarter and now owns 1,664 shares valued at $313,000. 84.09% of the stock is owned by institutional investors and hedge funds.
Spotify Technology shares up 0.5%
Spotify Technology's stock price rose $1.58 to $339.90 in midday trading on Friday. The company's stock was traded at 1,213,055 shares, with an average trading volume of 2,003,084 shares. The company's debt-to-equity ratio is 0.31, quick ratio is 1.56 and current ratio is 1.56. Spotify Technology SA's 52-week low is $129.23 and 52-week high is $359.38. The company's 50-day simple moving average is $316.28 and 200-day simple moving average is $285.95. The company's market capitalization is $67.66 billion, its price-to-earnings ratio is -507.31 and its beta is 1.59.
Spotify Technology (NYSE:SPOT – Get free report ) announced its latest earnings results on Tuesday, July 23rd. The company reported quarterly earnings per share of $1.33, beating the consensus estimate of $1.08 by $0.25. Spotify Technology's ROE was 15.23%, with a net margin of 3.22%. The company had revenue of $3.81 billion for the quarter, compared to analyst expectations of $3.82 billion. During the same period last year, the company earned earnings per share of ($1.69). The company's revenue grew 19.8% year-over-year. Equity analysts expect Spotify Technology SA to post earnings per share of $6.32 for the current fiscal year.
Analysts Set New Price Targets
Several analysts have offered their opinions on SPOT stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $385.00 price target (up from the previous $242.00) on shares of Spotify Technology in a research report on Thursday, July 11th. Redburn Atlantic reaffirmed a “sell” rating and set a $230.00 price target on shares of Spotify Technology in a report on Wednesday, July 10th. Morgan Stanley increased their price target on Spotify Technology from $370.00 to $400.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. DZ Bank raised Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price target on the stock in a research report on Wednesday, July 24th. Finally, HSBC boosted their price target on Spotify Technology from $310.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, April 24. One analyst has rated the stock as a sell, five have held, and 22 have given it a buy rating. According to data from MarketBeat.com, the company's shares currently have an average rating of a “moderate buy” with an average price target of $353.15.
Get the latest SPOT research report
Spotify Technology Profile
(Free report)
Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. The company operates in two segments: Premium and Ad-Supported. The Premium segment offers subscribers unlimited online and offline streaming access to a catalogue of music and podcasts without commercials.
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