Bleakley Financial Group LLC Purchases 204 Shares of Spotify Technology S.A. (NYSE:SPOT)

Bleakley Financial Group LLC raised its position in Spotify Technology S.A. (NYSE:SPOT) by 15.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,550 shares of the company’s stock after purchasing an additional 204 shares during the quarter. Bleakley Financial Group LLC’s holdings in Spotify Technology were worth $291,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SPOT. First Horizon Advisors Inc. raised its position in shares of Spotify Technology by 195.0% during the third 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 last quarter. Quarry LP bought a new position in shares of Spotify Technology during the second quarter worth about $35,000. First Manhattan Co. raised its position in shares of Spotify Technology by 65.8% during the first quarter. First Manhattan Co. now owns 252 shares of the company’s stock worth $38,000 after acquiring an additional 100 shares during the last quarter. Beaird Harris Wealth Management LLC raised its position in shares of 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 acquiring an additional 254 shares during the last quarter. Finally, Impact Partnership Wealth LLC bought a new position in shares of Spotify Technology during the third quarter worth about $43,000. 84.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SPOT. Pivotal Research raised their price objective on Spotify Technology from $330.00 to $390.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. TheStreet upgraded Spotify Technology from a “d+” rating to a “c-” rating in a research report on Friday, February 9th. Barclays raised their target price on Spotify Technology from $270.00 to $335.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Wells Fargo & Company raised their target price on Spotify Technology from $250.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Finally, JPMorgan Chase & Co. raised their target price on Spotify Technology from $280.00 to $320.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.16.

Spotify Technology Trading Down 3.3 %

Shares of Spotify Technology stock opened at $290.52 on Tuesday. The business’s fifty day simple moving average is $262.87 and its 200 day simple moving average is $211.24. Spotify Technology S.A. has a 12 month low of $128.67 and a 12 month high of $313.16.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, February 6th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.01. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.72 billion. Spotify Technology had a negative return on equity of 23.43% and a negative net margin of 4.01%. Spotify Technology’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the company posted ($1.43) earnings per share. On average, sell-side analysts predict that Spotify Technology S.A. will post 3.55 earnings per share for the current year.

Spotify Technology 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.