EverSource Wealth Advisors LLC increased its stake in shares of Spotify Technology S.A. (NYSE:SPOT – Free Report) by 17.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 938 shares of the company’s stock after purchasing an additional 137 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Spotify Technology were worth $263,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. GQG Partners LLC bought a new position in Spotify Technology in the 1st quarter valued at $610,040,000. Artisan Partners Limited Partnership grew its position in Spotify Technology by 24.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,400,811 shares of the company’s stock valued at $263,226,000 after acquiring an additional 277,733 shares during the last quarter. Bamco Inc. NY grew its position in Spotify Technology by 28.3% in the 1st quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock valued at $228,164,000 after acquiring an additional 190,931 shares during the last quarter. Swedbank AB bought a new position in Spotify Technology in the 1st quarter valued at $198,663,000. Finally, Vanguard Group Inc. grew its position in Spotify Technology by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 612,522 shares of the company’s stock valued at $161,645,000 after acquiring an additional 23,675 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.
Spotify Technology Trading Down 1.7 %
SPOT stock traded down $5.65 during midday trading on Friday, hitting $330.85. 2,977,814 shares of the company’s stock were exchanged, compared to its average volume of 2,360,909. The business has a 50-day simple moving average of $313.77 and a two-hundred day simple moving average of $282.08. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $65.86 billion, a PE ratio of -493.80 and a beta of 1.59. Spotify Technology S.A. has a 1-year low of $129.23 and a 1-year high of $359.38.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on SPOT shares. Pivotal Research upped their price objective on Spotify Technology from $400.00 to $460.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Loop Capital upped their price objective on Spotify Technology from $165.00 to $250.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. Bank of America upped their price objective on Spotify Technology from $370.00 to $380.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Redburn Atlantic restated a “sell” rating and set a $230.00 price objective on shares of Spotify Technology in a research note on Wednesday, July 10th. Finally, HSBC upped their price objective on Spotify Technology from $310.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, Spotify Technology presently has an average rating of “Moderate Buy” and an average price target of $353.15.
View Our Latest Research Report on Spotify Technology
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.
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