745 Shares in Spotify Technology S.A. (NYSE:SPOT) Purchased by Wedmont Private Capital

Wedmont Private Capital purchased a new stake in Spotify Technology S.A. (NYSE:SPOT) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 745 shares of the company’s stock, valued at approximately $197,000.

Other large investors also recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in Spotify Technology by 61.7% during the third quarter. Wellington Management Group LLP now owns 2,970,540 shares of the company’s stock worth $459,364,000 after buying an additional 1,133,305 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Spotify Technology by 24.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,400,811 shares of the company’s stock worth $263,226,000 after acquiring an additional 277,733 shares in the last quarter. Schroder Investment Management Group grew its holdings in shares of Spotify Technology by 303.4% in the 3rd quarter. Schroder Investment Management Group now owns 1,315,289 shares of the company’s stock worth $203,396,000 after acquiring an additional 989,243 shares during the last quarter. American Century Companies Inc. raised its position in shares of Spotify Technology by 10.4% during the third quarter. American Century Companies Inc. now owns 693,481 shares of the company’s stock worth $107,240,000 after purchasing an additional 65,058 shares during the period. Finally, Bamco Inc. NY boosted its position in shares of Spotify Technology by 49.3% in the 3rd quarter. Bamco Inc. NY now owns 598,090 shares of the company’s stock valued at $92,489,000 after purchasing an additional 197,571 shares during the period. Institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

SPOT has been the topic of several recent analyst reports. Guggenheim boosted their price objective on Spotify Technology from $290.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Morgan Stanley boosted their price target on shares of Spotify Technology from $270.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. HSBC raised their price objective on shares of Spotify Technology from $310.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Benchmark boosted their target price on shares of Spotify Technology from $325.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, UBS Group raised their target price on Spotify Technology from $274.00 to $375.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Eight equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $311.48.

Spotify Technology Stock Up 1.2 %

Shares of SPOT stock opened at $317.74 on Monday. The business’s 50 day moving average is $301.09 and its two-hundred day moving average is $257.13. The company has a market cap of $60.43 billion, a PE ratio of -474.23 and a beta of 1.61. Spotify Technology S.A. has a 12 month low of $129.23 and a 12 month high of $331.08.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.05 earnings per share 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 return on equity of 4.39% and a negative net margin of 0.80%. During the same quarter in the previous year, the firm earned ($1.24) EPS. As a group, equities analysts expect that Spotify Technology S.A. will post 4.95 EPS for the current fiscal 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.