D.A. Davidson & CO. Has $3.01 Million Stake in Spotify Technology S.A. (NYSE:SPOT)

Posted by on Jul 12th, 2023

D.A. Davidson & CO. cut its holdings in Spotify Technology S.A. (NYSE:SPOT – Free Report) by 5.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,543 shares of the company’s stock after selling 1,387 shares during the period. D.A. Davidson & CO.’s holdings in Spotify Technology were worth $3,012,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in SPOT. First Manhattan Co. boosted its holdings in Spotify Technology by 65.8% in the 1st quarter. First Manhattan Co. now owns 252 shares of the company’s stock valued at $38,000 after purchasing an additional 100 shares during the period. Machina Capital S.A.S. bought a new stake in shares of Spotify Technology in the 1st quarter worth approximately $38,000. Riverview Trust Co grew its holdings in shares of Spotify Technology by 162.6% during the 4th quarter. Riverview Trust Co now owns 344 shares of the company’s stock worth $27,000 after purchasing an additional 213 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Spotify Technology in the first quarter valued at $69,000. Finally, Covestor Ltd lifted its position in shares of Spotify Technology by 6,155.6% during the 1st quarter. Covestor Ltd now owns 563 shares of the company’s stock worth $85,000 after buying an additional 554 shares during the period. Institutional investors own 55.46% of the company’s stock.

Analyst Ratings Changes

SPOT has been the subject of a number of analyst reports. Bank of America lifted their price objective on Spotify Technology from $165.00 to $185.00 in a report on Thursday, June 29th. Wolfe Research raised Spotify Technology from a “peer perform” rating to an “outperform” rating and set a $190.00 price target for the company in a report on Wednesday, June 21st. Rosenblatt Securities boosted their price objective on Spotify Technology from $110.00 to $141.00 in a research note on Tuesday, May 2nd. Guggenheim raised their target price on Spotify Technology from $165.00 to $180.00 in a research note on Tuesday, May 23rd. Finally, The Goldman Sachs Group increased their price objective on shares of Spotify Technology from $111.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, April 21st. Seven analysts have rated the stock with a hold rating and fourteen 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 $147.64.

Spotify Technology Trading Up 2.0 %

SPOT stock opened at $160.51 on Wednesday. The firm has a market cap of $30.53 billion, a PE ratio of -35.12 and a beta of 1.76. The business’s 50-day moving average price is $151.93 and its two-hundred day moving average price is $129.04. Spotify Technology S.A. has a 1-year low of $69.29 and a 1-year high of $162.37.

Spotify Technology (NYSE:SPOT – Get Free Report) last issued its quarterly earnings data on Tuesday, April 25th. The company reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.23). The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.39 billion. Spotify Technology had a negative net margin of 6.49% and a negative return on equity of 33.54%. On average, analysts forecast that Spotify Technology S.A. will post -3.02 earnings per share for the current year.

Spotify Technology Profile

(Free Report)

Spotify Technology SA, together with its subsidiaries, provides audio streaming 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.

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

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