Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust grew its stake in Spotify Technology S.A. (NYSE:SPOT) by 21.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 354 shares of the company’s stock after purchasing an additional 63 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Spotify Technology were worth $67,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. raised its stake in shares of Spotify Technology by 195.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock valued at $27,000 after purchasing an additional 117 shares in the last quarter. Pinnacle Bancorp Inc. bought a new position in Spotify Technology in the 4th quarter worth about $29,000. Lindbrook Capital LLC grew its position in Spotify Technology by 32.3% in the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock worth $39,000 after purchasing an additional 50 shares during the last quarter. Beaird Harris Wealth Management LLC grew its position in Spotify Technology by 2,540.0% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 264 shares of the company’s stock worth $41,000 after purchasing an additional 254 shares during the last quarter. Finally, Impact Partnership Wealth LLC bought a new position in Spotify Technology in the 3rd quarter worth about $43,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Loop Capital upped their target price on shares of Spotify Technology from $165.00 to $250.00 and gave the stock a “hold” rating in a research report on Monday. Morgan Stanley increased their price objective on shares of Spotify Technology from $270.00 to $350.00 and gave the company an “overweight” rating in a report on Monday. Benchmark increased their price objective on shares of Spotify Technology from $325.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday. TheStreet upgraded shares of Spotify Technology from a “d+” rating to a “c-” rating in a report on Friday, February 9th. Finally, Raymond James increased their price objective on shares of Spotify Technology from $260.00 to $320.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Eight analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $301.81.

Spotify Technology Stock Up 2.8 %

SPOT stock opened at $289.20 on Friday. Spotify Technology S.A. has a 12-month low of $128.67 and a 12-month high of $319.30. The company has a market cap of $57.36 billion, a price-to-earnings ratio of -431.64 and a beta of 1.63. The company has a 50 day moving average of $270.61 and a two-hundred day moving average of $217.74.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, April 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.42. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the prior year, the firm earned ($1.24) EPS. On average, research analysts anticipate that Spotify Technology S.A. will post 3.97 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.