Bradley Foster & Sargent Inc. CT Has $1.14 Million Position in Spotify Technology S.A. (NYSE:SPOT)

Bradley Foster & Sargent Inc. CT cut its position in Spotify Technology S.A. (NYSE:SPOT) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,624 shares of the company’s stock after selling 48 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Spotify Technology were worth $1,137,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC lifted its holdings in Spotify Technology by 86.0% during the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after acquiring an additional 43 shares in the last quarter. Transcendent Capital Group LLC bought a new position in shares of Spotify Technology during the 2nd quarter valued at about $25,000. Mather Group LLC. grew its position in shares of 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 purchasing an additional 99 shares during the period. FinTrust Capital Advisors LLC increased its stake in Spotify Technology by 400.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. Finally, Asset Dedication LLC acquired a new stake in Spotify Technology during the 2nd quarter worth approximately $35,000. 84.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SPOT shares. Barclays upped their price target on shares of Spotify Technology from $350.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Bank of America increased their target price on Spotify Technology from $370.00 to $380.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. KeyCorp boosted their price target on Spotify Technology from $420.00 to $440.00 and gave the company an “overweight” rating in a report on Monday. Cantor Fitzgerald assumed coverage on Spotify Technology in a report on Thursday, September 5th. They set a “neutral” rating and a $340.00 price objective for the company. Finally, Pivotal Research boosted their target price on Spotify Technology from $460.00 to $510.00 and gave the company a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $359.14.

Spotify Technology Price Performance

Shares of SPOT opened at $360.01 on Friday. The firm has a market capitalization of $71.66 billion, a PE ratio of -537.32 and a beta of 1.57. 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’s 50-day moving average is $330.23 and its 200-day moving average is $306.45. Spotify Technology S.A. has a fifty-two week low of $145.76 and a fifty-two week high of $368.29.

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

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.