EverSource Wealth Advisors LLC Buys 137 Shares of Spotify Technology S.A. (NYSE:SPOT)

EverSource Wealth Advisors LLC raised its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 17.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 938 shares of the company’s stock after acquiring an additional 137 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Spotify Technology were worth $263,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Evoke Wealth LLC acquired a new stake in shares of Spotify Technology in the fourth quarter valued at about $2,271,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Spotify Technology by 30.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 79,667 shares of the company’s stock valued at $21,024,000 after purchasing an additional 18,731 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Spotify Technology by 1,500.5% in the fourth quarter. Franklin Resources Inc. now owns 70,151 shares of the company’s stock valued at $13,182,000 after purchasing an additional 65,768 shares during the last quarter. TD Asset Management Inc grew its position in shares of Spotify Technology by 2.4% in the first quarter. TD Asset Management Inc now owns 512,841 shares of the company’s stock valued at $135,339,000 after purchasing an additional 12,192 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Spotify Technology by 327.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 391,253 shares of the company’s stock valued at $73,520,000 after purchasing an additional 299,700 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Performance

NYSE:SPOT traded down $5.65 during trading on Friday, reaching $330.85. The company’s stock had a trading volume of 2,977,814 shares, compared to its average volume of 2,360,909. The firm has a market cap of $65.86 billion, a price-to-earnings ratio of -493.80 and a beta of 1.59. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a 50 day moving average of $313.77 and a 200-day moving average of $282.08. Spotify Technology S.A. has a 12 month low of $129.23 and a 12 month high of $359.38.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.25. The firm 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 business’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.69) EPS. Research analysts expect that Spotify Technology S.A. will post 6.32 EPS for the current fiscal year.

Analyst Ratings Changes

SPOT has been the subject of a number of research analyst reports. Redburn Atlantic reiterated a “sell” rating and issued a $230.00 target price on shares of Spotify Technology in a research note on Wednesday, July 10th. Barclays boosted their price objective on shares of Spotify Technology from $350.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. DZ Bank raised shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 target price for the company in a report on Wednesday, July 24th. The Goldman Sachs Group raised shares of Spotify Technology from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $320.00 to $425.00 in a report on Wednesday, July 24th. Finally, Raymond James boosted their price target on shares of Spotify Technology from $260.00 to $320.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $353.15.

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.