3,769 Shares in Spotify Technology S.A. (NYSE:SPOT) Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,769 shares of the company’s stock, valued at approximately $708,000.

Other institutional investors also recently bought and sold shares of the company. First Horizon Advisors Inc. increased its holdings in shares of Spotify Technology by 195.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock valued at $27,000 after acquiring an additional 117 shares during the last quarter. Pinnacle Bancorp Inc. bought a new stake in Spotify Technology during the fourth quarter worth approximately $29,000. Quarry LP acquired a new position in Spotify Technology during the second quarter valued at approximately $35,000. First Manhattan Co. raised its position in shares of Spotify Technology by 65.8% in the first quarter. First Manhattan Co. now owns 252 shares of the company’s stock valued at $38,000 after purchasing an additional 100 shares during the period. Finally, Beaird Harris Wealth Management LLC lifted its stake in shares of Spotify Technology by 2,540.0% in the third quarter. Beaird Harris Wealth Management LLC now owns 264 shares of the company’s stock worth $41,000 after buying an additional 254 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of research analyst reports. Benchmark raised their target price on shares of Spotify Technology from $260.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. KeyCorp raised their price target on Spotify Technology from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday. DZ Bank raised Spotify Technology from a “sell” rating to a “hold” rating and set a $240.00 price objective for the company in a research report on Wednesday, February 7th. Barclays raised their target price on Spotify Technology from $270.00 to $335.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. Finally, Pivotal Research upped their price target on Spotify Technology from $330.00 to $390.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Spotify Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.16.

Spotify Technology Stock Performance

Shares of NYSE SPOT opened at $290.52 on Tuesday. Spotify Technology S.A. has a fifty-two week low of $128.67 and a fifty-two week high of $313.16. The company’s 50 day simple moving average is $262.87 and its 200 day simple moving average is $211.24.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, February 6th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.01. Spotify Technology had a negative return on equity of 23.43% and a negative net margin of 4.01%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the business posted ($1.43) EPS. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. On average, research analysts anticipate that Spotify Technology S.A. will post 3.55 EPS for the current year.

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.