Spotify Technology S.A. (NYSE:SPOT) Stake Lifted by RFG Advisory LLC

RFG Advisory LLC increased its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 21.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,442 shares of the company’s stock after purchasing an additional 255 shares during the period. RFG Advisory LLC’s holdings in Spotify Technology were worth $381,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SPOT. Park Avenue Securities LLC raised its stake in shares of Spotify Technology by 16.5% in the 1st quarter. Park Avenue Securities LLC now owns 1,943 shares of the company’s stock worth $513,000 after buying an additional 275 shares in the last quarter. Wedmont Private Capital bought a new stake in Spotify Technology in the first quarter worth about $197,000. Banque Cantonale Vaudoise lifted its holdings in Spotify Technology by 28.1% in the 1st quarter. Banque Cantonale Vaudoise now owns 4,043 shares of the company’s stock valued at $1,066,000 after acquiring an additional 886 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Spotify Technology by 96.5% during the 1st quarter. GAMMA Investing LLC now owns 334 shares of the company’s stock valued at $88,000 after purchasing an additional 164 shares in the last quarter. Finally, Regis Acquisition Inc. grew its stake in shares of Spotify Technology by 6.8% in the 4th quarter. Regis Acquisition Inc. now owns 53,753 shares of the company’s stock worth $10,101,000 after purchasing an additional 3,446 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SPOT shares. Canaccord Genuity Group raised their target price on shares of Spotify Technology from $315.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Loop Capital lifted their target price on Spotify Technology from $165.00 to $250.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Bank of America upped their target price on Spotify Technology from $315.00 to $370.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Benchmark lifted their price target on Spotify Technology from $325.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Barclays upped their price objective on shares of Spotify Technology from $335.00 to $350.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Eight investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $311.48.

Spotify Technology Trading Down 0.9 %

Shares of Spotify Technology stock opened at $314.99 on Tuesday. The stock has a 50-day simple moving average of $301.58 and a 200-day simple moving average of $257.97. Spotify Technology S.A. has a 52-week low of $129.23 and a 52-week high of $331.08.

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