Brookstone Capital Management Purchases 112 Shares of Spotify Technology S.A. (NYSE:SPOT)

Brookstone Capital Management lifted its holdings in Spotify Technology S.A. (NYSE:SPOT) by 8.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,411 shares of the company’s stock after acquiring an additional 112 shares during the period. Brookstone Capital Management’s holdings in Spotify Technology were worth $631,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. City Center Advisors LLC bought a new stake in shares of Spotify Technology in the fourth quarter valued at approximately $374,000. Matrix Trust Co acquired a new position in Spotify Technology in the 4th quarter valued at $150,000. Aprio Wealth Management LLC bought a new stake in shares of Spotify Technology during the 4th quarter valued at $338,000. West Oak Capital LLC grew its holdings in shares of Spotify Technology by 449,633.3% during the 4th quarter. West Oak Capital LLC now owns 26,984 shares of the company’s stock worth $12,072,000 after purchasing an additional 26,978 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in shares of Spotify Technology by 2.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,398 shares of the company’s stock worth $625,000 after purchasing an additional 33 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Ratings Changes

SPOT has been the topic of a number of analyst reports. Macquarie increased their price objective on shares of Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. TD Cowen increased their price target on shares of Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. Wells Fargo & Company boosted their price objective on shares of Spotify Technology from $470.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $340.00 target price on shares of Spotify Technology in a report on Monday, October 7th. Finally, Pivotal Research upped their price objective on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $441.21.

Spotify Technology Stock Performance

Spotify Technology stock opened at $486.07 on Friday. The firm has a market cap of $96.75 billion, a price-to-earnings ratio of 132.08 and a beta of 1.62. Spotify Technology S.A. has a 52-week low of $200.81 and a 52-week high of $506.47. The firm has a 50 day moving average price of $467.11 and a two-hundred day moving average price of $388.20.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. Spotify Technology’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 EPS. As a group, equities research analysts predict that Spotify Technology S.A. will post 5.96 EPS for the current fiscal year.

About Spotify Technology

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.