Oppenheimer Asset Management Inc. boosted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT – Free Report) by 13.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 5,924 shares of the company’s stock after acquiring an additional 705 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Spotify Technology were worth $792,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Ameritas Advisory Services LLC acquired a new stake in Spotify Technology during the 1st quarter worth $27,000. Spire Wealth Management boosted its position in shares of Spotify Technology by 148.4% during the first quarter. Spire Wealth Management now owns 236 shares of the company’s stock worth $32,000 after purchasing an additional 141 shares in the last quarter. Machina Capital S.A.S. bought a new position in shares of Spotify Technology during the first quarter worth $38,000. First Manhattan Co. boosted its position in shares of Spotify Technology by 65.8% during the first quarter. First Manhattan Co. now owns 252 shares of the company’s stock worth $38,000 after purchasing an additional 100 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Spotify Technology by 471.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 571 shares of the company’s stock worth $45,000 after purchasing an additional 471 shares in the last quarter. Institutional investors and hedge funds own 55.46% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on SPOT shares. Bank of America lifted their price target on shares of Spotify Technology from $165.00 to $185.00 in a research report on Thursday, June 29th. Barclays lifted their price target on shares of Spotify Technology from $180.00 to $182.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 25th. Guggenheim boosted their price objective on shares of Spotify Technology from $165.00 to $180.00 in a research report on Tuesday, May 23rd. Loop Capital upped their target price on shares of Spotify Technology from $130.00 to $140.00 in a research note on Wednesday, July 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of Spotify Technology from $160.00 to $190.00 in a research note on Wednesday, July 19th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $165.80.
Spotify Technology Trading Up 1.1 %
Shares of NYSE:SPOT opened at $137.22 on Friday. Spotify Technology S.A. has a 52-week low of $69.29 and a 52-week high of $182.00. The company has a 50-day simple moving average of $152.25 and a 200 day simple moving average of $141.26.
Spotify Technology (NYSE:SPOT – Get Free Report) last issued its earnings results on Tuesday, July 25th. The company reported ($1.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.89). Spotify Technology had a negative net margin of 7.79% and a negative return on equity of 42.48%. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.54 billion. On average, equities research analysts anticipate that Spotify Technology S.A. will post -3.13 earnings per share for the current year.
About Spotify Technology
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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