Lindbrook Capital LLC Boosts Stake in Spotify Technology S.A. (NYSE:SPOT)

Lindbrook Capital LLC grew its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 32.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 205 shares of the company’s stock after buying an additional 50 shares during the quarter. Lindbrook Capital LLC’s holdings in Spotify Technology were worth $39,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Private Trust Co. NA raised its position in Spotify Technology by 18.4% in the 4th quarter. Private Trust Co. NA now owns 367 shares of the company’s stock worth $69,000 after purchasing an additional 57 shares during the period. Ieq Capital LLC raised its position in Spotify Technology by 0.3% in the 3rd quarter. Ieq Capital LLC now owns 24,540 shares of the company’s stock worth $3,795,000 after purchasing an additional 85 shares during the period. Slow Capital Inc. raised its position in Spotify Technology by 0.5% in the 4th quarter. Slow Capital Inc. now owns 18,487 shares of the company’s stock worth $3,474,000 after purchasing an additional 94 shares during the period. Everhart Financial Group Inc. raised its position in Spotify Technology by 5.1% in the 3rd quarter. Everhart Financial Group Inc. now owns 2,151 shares of the company’s stock worth $333,000 after purchasing an additional 105 shares during the period. Finally, Orion Portfolio Solutions LLC raised its position in Spotify Technology by 7.8% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 1,457 shares of the company’s stock worth $225,000 after purchasing an additional 105 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Up 2.8 %

Shares of Spotify Technology stock opened at $289.20 on Friday. Spotify Technology S.A. has a 52-week low of $128.67 and a 52-week high of $319.30. The company has a 50-day simple moving average of $270.61 and a two-hundred day simple moving average of $217.74.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, April 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.42. The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.87 billion. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. During the same period in the previous year, the company earned ($1.24) earnings per share. As a group, analysts anticipate that Spotify Technology S.A. will post 3.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SPOT. Macquarie lifted their target price on shares of Spotify Technology from $300.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday. Bank of America raised their price target on shares of Spotify Technology from $315.00 to $370.00 and gave the stock a “buy” rating in a report on Wednesday. Raymond James raised their price target on shares of Spotify Technology from $260.00 to $320.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Pivotal Research raised their price target on shares of Spotify Technology from $390.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Morgan Stanley raised their price target on shares of Spotify Technology from $270.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday. Eight equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and an average target price of $301.81.

About Spotify Technology

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.