Spotify Technology $SPOT Stock Holdings Lifted by Cetera Investment Advisers

Cetera Investment Advisers grew its stake in shares of Spotify Technology (NYSE:SPOT) by 9.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 40,231 shares of the company’s stock after acquiring an additional 3,420 shares during the period. Cetera Investment Advisers’ holdings in Spotify Technology were worth $19,508,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SPOT. Principal Financial Group Inc. lifted its position in shares of Spotify Technology by 12.9% in the 4th quarter. Principal Financial Group Inc. now owns 645,196 shares of the company’s stock valued at $374,672,000 after acquiring an additional 73,722 shares in the last quarter. City Holding Co. boosted its stake in Spotify Technology by 2,515.9% in the 4th quarter. City Holding Co. now owns 5,598 shares of the company’s stock worth $3,251,000 after purchasing an additional 5,384 shares during the period. SBI Okasan Asset Management Co.Ltd. purchased a new position in Spotify Technology during the 4th quarter worth approximately $1,162,000. Robeco Schweiz AG grew its position in Spotify Technology by 37.6% during the 4th quarter. Robeco Schweiz AG now owns 18,544 shares of the company’s stock worth $10,769,000 after purchasing an additional 5,071 shares in the last quarter. Finally, Sycale Advisors NY LLC raised its stake in Spotify Technology by 89.6% during the 4th quarter. Sycale Advisors NY LLC now owns 36,075 shares of the company’s stock valued at $20,949,000 after purchasing an additional 17,050 shares during the period. 84.09% of the stock is owned by institutional investors.

Spotify Technology Trading Up 2.6%

Shares of NYSE:SPOT opened at $495.05 on Tuesday. The firm has a market cap of $101.92 billion, a price-to-earnings ratio of 39.45, a P/E/G ratio of 1.19 and a beta of 1.56. Spotify Technology has a 1 year low of $405.00 and a 1 year high of $748.30. The business has a fifty day simple moving average of $482.63 and a 200 day simple moving average of $487.08.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, April 28th. The company reported $4.04 EPS for the quarter, beating analysts’ consensus estimates of $3.41 by $0.63. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.The firm had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same quarter in the previous year, the company posted $1.07 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, sell-side analysts forecast that Spotify Technology will post 14.51 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on SPOT shares. Barclays increased their target price on Spotify Technology from $500.00 to $565.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Weiss Ratings downgraded Spotify Technology from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Morgan Stanley upped their price target on Spotify Technology from $590.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Canaccord Genuity Group reduced their price objective on Spotify Technology from $750.00 to $720.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Finally, Wells Fargo & Company decreased their price objective on Spotify Technology from $600.00 to $570.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and an average price target of $630.70.

Insider Activity at Spotify Technology

In related news, Director Sven Hans Martin Lorentzon sold 35,380 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $525.73, for a total value of $18,600,327.40. Following the completion of the sale, the director owned 6,383 shares of the company’s stock, valued at approximately $3,355,734.59. The trade was a 84.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christopher P. Marshall sold 2,650 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $519.86, for a total value of $1,377,629.00. Following the completion of the transaction, the director owned 4,039 shares in the company, valued at $2,099,714.54. This represents a 39.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 111,442 shares of company stock worth $54,757,553. 0.40% of the stock is currently owned by corporate insiders.

Spotify Technology Company Profile

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.