Spotify Technology S.A. (NYSE:SPOT) Shares Purchased by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC grew its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 8.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,442 shares of the company’s stock after acquiring an additional 328 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Spotify Technology were worth $1,987,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SPOT. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Spotify Technology during the fourth quarter valued at approximately $404,000. M3 Advisory Group LLC bought a new position in shares of Spotify Technology during the 4th quarter worth about $204,000. Geneos Wealth Management Inc. boosted its position in shares of Spotify Technology by 17.2% during the 4th quarter. Geneos Wealth Management Inc. now owns 396 shares of the company’s stock valued at $177,000 after acquiring an additional 58 shares in the last quarter. Dynamic Advisor Solutions LLC increased its stake in Spotify Technology by 4.9% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 2,650 shares of the company’s stock valued at $1,185,000 after acquiring an additional 124 shares during the period. Finally, Fifth Third Bancorp raised its position in Spotify Technology by 44.4% in the fourth quarter. Fifth Third Bancorp now owns 231 shares of the company’s stock worth $103,000 after purchasing an additional 71 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SPOT shares. Wells Fargo & Company lifted their price objective on Spotify Technology from $470.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft increased their price objective on Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upped their target price on shares of Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Benchmark reissued a “buy” rating and set a $520.00 price target on shares of Spotify Technology in a report on Thursday, January 16th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $441.21.

Spotify Technology Trading Up 0.6 %

Shares of SPOT stock opened at $513.54 on Tuesday. The stock has a market cap of $102.22 billion, a price-to-earnings ratio of 139.55 and a beta of 1.62. The stock has a 50-day moving average of $473.74 and a 200-day moving average of $396.89. Spotify Technology S.A. has a 1-year low of $213.31 and a 1-year high of $516.58.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period last year, the business earned $0.36 EPS. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. Sell-side analysts forecast that Spotify Technology S.A. will post 5.91 earnings per share for the current 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.