Guggenheim Capital LLC Has $826,000 Stake in Spotify Technology S.A. (NYSE:SPOT)

Posted by Defense World Staff on Sep 5th, 2023

Guggenheim Capital LLC grew its holdings in shares of Spotify Technology S.A. (NYSE:SPOT – Free Report) by 88.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,183 shares of the company’s stock after acquiring an additional 2,895 shares during the quarter. Guggenheim Capital LLC’s holdings in Spotify Technology were worth $826,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Ameritas Advisory Services LLC acquired a new position in Spotify Technology during the first quarter worth about $27,000. Spire Wealth Management raised its stake in 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 acquiring an additional 141 shares in the last quarter. Machina Capital S.A.S. bought a new stake in shares of Spotify Technology during the first quarter worth about $38,000. First Manhattan Co. grew its holdings 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 during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings 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 during the last quarter. Institutional investors and hedge funds own 56.89% of the company’s stock.

Spotify Technology Stock Performance

Spotify Technology stock opened at $157.56 on Tuesday. The stock has a market capitalization of $29.97 billion, a price-to-earnings ratio of -29.45 and a beta of 1.73. Spotify Technology S.A. has a 52-week low of $69.29 and a 52-week high of $182.00. The stock’s 50 day moving average price is $151.47 and its two-hundred day moving average price is $142.48.

Spotify Technology (NYSE:SPOT – Get Free Report) last issued its earnings results on Tuesday, July 25th. The company reported ($1.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.89). Spotify Technology had a negative return on equity of 42.48% and a negative net margin of 7.79%. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.54 billion. On average, equities research analysts forecast that Spotify Technology S.A. will post -3.13 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on SPOT. Benchmark boosted their price target on Spotify Technology from $160.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 20th. Robert W. Baird boosted their price target on Spotify Technology from $160.00 to $175.00 in a report on Monday, June 5th. Piper Sandler boosted their price target on Spotify Technology from $140.00 to $165.00 in a report on Friday, July 14th. JPMorgan Chase & Co. boosted their price target on Spotify Technology from $160.00 to $190.00 in a report on Wednesday, July 19th. Finally, Rosenblatt Securities boosted their price target on Spotify Technology from $141.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, July 26th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $165.80.

Check Out Our Latest Report on SPOT

About Spotify Technology

(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.