Cullen Frost Bankers Inc. Has $8.21 Million Position in Spotify Technology S.A. (NYSE:SPOT)

Cullen Frost Bankers Inc. increased its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,692 shares of the company’s stock after acquiring an additional 199 shares during the period. Cullen Frost Bankers Inc.’s holdings in Spotify Technology were worth $8,210,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its stake in Spotify Technology by 195.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock valued at $27,000 after purchasing an additional 117 shares during the last quarter. Pinnacle Bancorp Inc. acquired a new position in shares of Spotify Technology during the fourth quarter worth $29,000. GAMMA Investing LLC bought a new position in shares of Spotify Technology in the 4th quarter valued at $32,000. Lindbrook Capital LLC boosted its holdings in shares of Spotify Technology by 32.3% during the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock valued at $39,000 after acquiring an additional 50 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC grew its position in Spotify Technology by 2,540.0% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 264 shares of the company’s stock worth $41,000 after acquiring an additional 254 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SPOT shares. DZ Bank upgraded Spotify Technology from a “sell” rating to a “hold” rating and set a $240.00 price target on the stock in a report on Wednesday, February 7th. KeyCorp boosted their target price on shares of Spotify Technology from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Barclays raised their price target 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. Macquarie boosted their price objective on shares of Spotify Technology from $300.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Spotify Technology from $260.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Eight equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average price target of $306.42.

Spotify Technology Stock Up 0.2 %

Shares of NYSE:SPOT opened at $298.65 on Thursday. The stock’s 50 day moving average is $277.33 and its 200-day moving average is $226.31. Spotify Technology S.A. has a twelve month low of $129.23 and a twelve month high of $319.30. The firm has a market capitalization of $56.80 billion, a price-to-earnings ratio of -445.74 and a beta of 1.61.

Spotify Technology (NYSE:SPOT) last released 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 firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.87 billion. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. During the same quarter in the prior year, the company posted ($1.24) earnings per share. Equities research analysts anticipate that Spotify Technology S.A. will post 4.78 earnings per share for the current fiscal 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.