Ashton Thomas Private Wealth LLC Purchases Shares of 123 Spotify Technology S.A. (NYSE:SPOT)

Ashton Thomas Private Wealth LLC purchased a new stake in Spotify Technology S.A. (NYSE:SPOT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 123 shares of the company’s stock, valued at approximately $39,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC raised its stake in shares of Spotify Technology by 86.0% during the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after purchasing an additional 43 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in Spotify Technology in the 2nd quarter valued at $25,000. Mather Group LLC. raised its stake in Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after acquiring an additional 99 shares during the period. FinTrust Capital Advisors LLC raised its stake in Spotify Technology by 400.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock valued at $33,000 after acquiring an additional 100 shares during the period. Finally, Asset Dedication LLC bought a new stake in Spotify Technology in the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SPOT shares. Benchmark restated a “buy” rating and issued a $405.00 price target on shares of Spotify Technology in a research note on Monday, July 22nd. Macquarie increased their target price on Spotify Technology from $345.00 to $395.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group raised Spotify Technology from a “neutral” rating to a “buy” rating and raised their price objective for the company from $320.00 to $425.00 in a research note on Wednesday, July 24th. Morgan Stanley raised their price objective on Spotify Technology from $370.00 to $400.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Redburn Atlantic reaffirmed a “sell” rating and issued a $230.00 price objective on shares of Spotify Technology in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $357.41.

Spotify Technology Price Performance

Shares of SPOT opened at $338.56 on Tuesday. Spotify Technology S.A. has a 1 year low of $145.76 and a 1 year high of $359.38. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market capitalization of $67.39 billion, a price-to-earnings ratio of -505.31 and a beta of 1.57. The business has a 50-day moving average of $327.66 and a 200-day moving average of $305.26.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.25. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.82 billion. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the previous year, the company posted ($1.69) earnings per share. As a group, equities research analysts anticipate that Spotify Technology S.A. will post 6.31 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.