Spotify Technology S.A. (NYSE:SPOT) Stock Holdings Lifted by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 13.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,512 shares of the company’s stock after buying an additional 408 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Spotify Technology were worth $660,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SPOT. 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. Pinnacle Bancorp Inc. bought a new stake in Spotify Technology during the 4th quarter valued at $29,000. GAMMA Investing LLC acquired a new position in Spotify Technology during the 4th quarter worth $32,000. Lindbrook Capital LLC boosted its position in Spotify Technology by 32.3% during 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. Finally, Beaird Harris Wealth Management LLC grew its stake in shares of Spotify Technology by 2,540.0% in the third quarter. Beaird Harris Wealth Management LLC now owns 264 shares of the company’s stock worth $41,000 after purchasing an additional 254 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Down 0.4 %

Shares of NYSE:SPOT opened at $298.21 on Wednesday. The company’s fifty day moving average is $277.33 and its two-hundred day moving average is $226.31. The company has a market cap of $56.72 billion, a P/E ratio of -445.08 and a beta of 1.61. Spotify Technology S.A. has a 12-month low of $129.23 and a 12-month high of $319.30.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.42. Spotify Technology had a negative return on equity of 4.39% and a negative net margin of 0.80%. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same period in the previous year, the firm earned ($1.24) earnings per share. Equities research analysts anticipate that Spotify Technology S.A. will post 4.78 earnings per share for the current year.

Wall Street Analyst Weigh In

SPOT has been the subject of several research analyst reports. UBS Group upped their price objective on shares of Spotify Technology from $274.00 to $375.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Canaccord Genuity Group increased their price objective on shares of Spotify Technology from $315.00 to $330.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Wells Fargo & Company boosted their target price on Spotify Technology from $250.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. The Goldman Sachs Group upped their target price on Spotify Technology from $277.00 to $317.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Rosenblatt Securities boosted their price objective on Spotify Technology from $315.00 to $396.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Eight analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $306.42.

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.