Waldron Private Wealth LLC Buys Shares of 176 Spotify Technology S.A. (NYSE:SPOT)

Waldron Private Wealth LLC purchased a new position in shares of Spotify Technology S.A. (NYSE:SPOT) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 176 shares of the company’s stock, valued at approximately $65,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Clearbridge Investments LLC grew its position in Spotify Technology by 0.6% in the first quarter. Clearbridge Investments LLC now owns 6,892 shares of the company’s stock valued at $1,819,000 after purchasing an additional 38 shares in the last quarter. Cigna Investments Inc. New boosted its stake in shares of Spotify Technology by 3.3% during the 2nd quarter. Cigna Investments Inc. New now owns 1,260 shares of the company’s stock worth $395,000 after buying an additional 40 shares during the last quarter. Moody Lynn & Lieberson LLC grew its holdings in shares of Spotify Technology by 0.6% in the 2nd quarter. Moody Lynn & Lieberson LLC now owns 6,843 shares of the company’s stock valued at $2,147,000 after acquiring an additional 40 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Spotify Technology by 86.0% in the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after acquiring an additional 43 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Spotify Technology by 4.6% during the second quarter. EverSource Wealth Advisors LLC now owns 981 shares of the company’s stock worth $337,000 after acquiring an additional 43 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Trading Down 2.0 %

Shares of NYSE:SPOT opened at $379.89 on Thursday. The company has a market capitalization of $75.62 billion, a P/E ratio of 155.06 and a beta of 1.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. The business’s 50 day simple moving average is $355.37 and its 200 day simple moving average is $324.84. Spotify Technology S.A. has a 1 year low of $155.00 and a 1 year high of $389.48.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.25. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.82 billion. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. Spotify Technology’s quarterly revenue was up 19.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.69) EPS. On average, research analysts anticipate that Spotify Technology S.A. will post 6.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SPOT has been the topic of several recent analyst reports. Macquarie boosted their price target on Spotify Technology from $345.00 to $395.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. UBS Group upped their price target on shares of Spotify Technology from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Benchmark reissued a “buy” rating and issued a $405.00 price objective on shares of Spotify Technology in a research report on Monday, July 22nd. TD Cowen upped their target price on shares of Spotify Technology from $273.00 to $356.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Finally, Wolfe Research began coverage on Spotify Technology in a report on Friday, July 12th. They set an “outperform” rating and a $390.00 price target for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $363.24.

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.