TFB Advisors LLC Takes $202,000 Position in Spotify Technology S.A. (NYSE:SPOT)

TFB Advisors LLC purchased a new stake in shares of Spotify Technology S.A. (NYSE:SPOTFree Report) in the first quarter, Holdings Channel.com reports. The firm purchased 709 shares of the company’s stock, valued at approximately $202,000.

A number of other hedge funds have also recently made changes to their positions in the company. Larson Financial Group LLC lifted its holdings in shares of Spotify Technology by 86.0% during the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after acquiring an additional 43 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its holdings in shares of Spotify Technology by 32.8% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 446,559 shares of the company’s stock worth $117,847,000 after acquiring an additional 110,172 shares during the last quarter. FinTrust Capital Advisors LLC lifted its holdings in shares of Spotify Technology by 400.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock worth $33,000 after acquiring an additional 100 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Spotify Technology during the 1st quarter worth $111,000. Finally, Choreo LLC bought a new stake in shares of Spotify Technology during the 1st quarter worth $276,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

Shares of SPOT traded down $6.55 on Wednesday, hitting $305.00. 2,219,865 shares of the stock traded hands, compared to its average volume of 1,938,290. Spotify Technology S.A. has a one year low of $129.23 and a one year high of $331.08. The company has a market capitalization of $58.01 billion, a PE ratio of -464.99, a P/E/G ratio of 0.83 and a beta of 1.59. The business has a 50 day simple moving average of $307.81 and a 200 day simple moving average of $267.36.

Spotify Technology (NYSE:SPOTGet Free Report) last posted its earnings results on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same quarter last year, the company earned ($1.24) EPS. On average, equities analysts expect that Spotify Technology S.A. will post 4.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SPOT. UBS Group lifted their price objective on shares of Spotify Technology from $274.00 to $375.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Citigroup boosted their price target on shares of Spotify Technology from $255.00 to $310.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Canaccord Genuity Group boosted their price target on shares of Spotify Technology from $315.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Piper Sandler reissued a “neutral” rating and issued a $320.00 price target (up from $300.00) on shares of Spotify Technology in a research note on Wednesday, April 24th. Finally, Redburn Atlantic reissued a “sell” rating and issued a $230.00 price target on shares of Spotify Technology in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $317.08.

View Our Latest Report on SPOT

Spotify Technology Company Profile

(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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