First Trust Direct Indexing L.P. Has $601,000 Stake in Spotify Technology S.A. (NYSE:SPOT)

First Trust Direct Indexing L.P. decreased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 30.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,197 shares of the company’s stock after selling 1,419 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Spotify Technology were worth $601,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Lindbrook Capital LLC raised its stake in Spotify Technology by 32.3% during the fourth quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock worth $39,000 after acquiring an additional 50 shares in the last quarter. Signaturefd LLC raised its stake in Spotify Technology by 4.4% during the fourth quarter. Signaturefd LLC now owns 1,222 shares of the company’s stock worth $230,000 after acquiring an additional 51 shares in the last quarter. Private Trust Co. NA raised its stake in Spotify Technology by 18.4% during the fourth quarter. Private Trust Co. NA now owns 367 shares of the company’s stock worth $69,000 after acquiring an additional 57 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Spotify Technology by 21.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 354 shares of the company’s stock valued at $67,000 after buying an additional 63 shares during the period. Finally, Ieq Capital LLC increased its stake in shares of Spotify Technology by 0.3% in the third quarter. Ieq Capital LLC now owns 24,540 shares of the company’s stock valued at $3,795,000 after buying an additional 85 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

SPOT has been the subject of several recent research reports. Piper Sandler reaffirmed a “neutral” rating and issued a $320.00 price objective (up previously from $300.00) on shares of Spotify Technology in a research note on Wednesday, April 24th. Bank of America increased their target price on shares of Spotify Technology from $315.00 to $370.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. UBS Group increased their target price on shares of Spotify Technology from $274.00 to $375.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Raymond James increased their target price on shares of Spotify Technology from $260.00 to $320.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Finally, TheStreet raised shares of Spotify Technology from a “d+” rating to a “c-” rating in a research report on Friday, February 9th. Eight investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus target price of $301.81.

Spotify Technology Stock Performance

Shares of NYSE:SPOT opened at $296.07 on Monday. The stock’s fifty day simple moving average is $275.53 and its two-hundred day simple moving average is $224.21. Spotify Technology S.A. has a 1-year low of $129.23 and a 1-year high of $319.30.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, April 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.42. Spotify Technology had a negative return on equity of 4.39% and a negative net margin of 0.80%. The firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period last year, the firm posted ($1.24) EPS. As a group, research analysts expect that Spotify Technology S.A. will post 4.78 earnings per share for the current fiscal 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.