Stratos Wealth Advisors LLC Purchases 128 Shares of Spotify Technology S.A. (NYSE:SPOT)

Stratos Wealth Advisors LLC lifted its position in Spotify Technology S.A. (NYSE:SPOT) by 8.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,736 shares of the company’s stock after acquiring an additional 128 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Spotify Technology were worth $777,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its position in shares of Spotify Technology by 5.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,892 shares of the company’s stock worth $594,000 after purchasing an additional 94 shares during the period. GAMMA Investing LLC raised its stake in Spotify Technology by 35.9% in the third quarter. GAMMA Investing LLC now owns 677 shares of the company’s stock worth $249,000 after buying an additional 179 shares in the last quarter. Miracle Mile Advisors LLC purchased a new stake in Spotify Technology during the third quarter worth $242,000. Dynamic Advisor Solutions LLC boosted its position in Spotify Technology by 1.9% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 2,526 shares of the company’s stock valued at $931,000 after acquiring an additional 47 shares in the last quarter. Finally, Atomi Financial Group Inc. increased its holdings in shares of Spotify Technology by 23.3% in the 3rd quarter. Atomi Financial Group Inc. now owns 1,571 shares of the company’s stock valued at $579,000 after acquiring an additional 297 shares during the period. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Trading Down 0.1 %

Shares of NYSE:SPOT opened at $625.67 on Friday. Spotify Technology S.A. has a 12-month low of $227.52 and a 12-month high of $630.77. The business has a 50 day moving average of $488.02 and a two-hundred day moving average of $410.89. The company has a market capitalization of $124.54 billion, a PE ratio of 170.02 and a beta of 1.63.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.30). The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Equities research analysts predict that Spotify Technology S.A. will post 5.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SPOT shares. Bank of America raised their price objective on Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Pivotal Research raised their price target on shares of Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Rosenblatt Securities reiterated a “neutral” rating and set a $658.00 price objective (up previously from $473.00) on shares of Spotify Technology in a research note on Wednesday. Benchmark raised their target price on shares of Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $514.79.

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.