Corient Private Wealth LLC Grows Stake in Spotify Technology S.A. (NYSE:SPOT)

Corient Private Wealth LLC grew its position in Spotify Technology S.A. (NYSE:SPOTFree Report) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,775 shares of the company’s stock after purchasing an additional 97 shares during the quarter. Corient Private Wealth LLC’s holdings in Spotify Technology were worth $2,213,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SPOT. Pinnacle Bancorp Inc. purchased a new stake in shares of Spotify Technology during the fourth quarter valued at $29,000. GAMMA Investing LLC purchased a new stake in shares of Spotify Technology during the fourth quarter valued at $32,000. Lindbrook Capital LLC grew its holdings in shares of Spotify Technology by 32.3% during the fourth quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock valued at $39,000 after buying an additional 50 shares during the last quarter. Beaird Harris Wealth Management LLC grew its holdings in shares of Spotify Technology by 2,540.0% during the third quarter. Beaird Harris Wealth Management LLC now owns 264 shares of the company’s stock valued at $41,000 after buying an additional 254 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in shares of Spotify Technology by 191.4% during the fourth quarter. Quadrant Capital Group LLC now owns 271 shares of the company’s stock valued at $51,000 after buying an additional 178 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

Shares of SPOT opened at $304.69 on Friday. Spotify Technology S.A. has a twelve month low of $129.23 and a twelve month high of $319.30. The firm’s fifty day simple moving average is $291.52 and its 200-day simple moving average is $241.54.

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

Analysts Set New Price Targets

SPOT has been the subject of a number of research reports. Bank of America boosted 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. Morgan Stanley boosted their target price on shares of Spotify Technology from $270.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Spotify Technology from $260.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Barclays boosted their target price on shares of Spotify Technology from $335.00 to $350.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Finally, Raymond James boosted 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. Eight research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus price target of $306.42.

View Our Latest Research Report on SPOT

About Spotify Technology

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

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