Spotify Technology S.A. (NYSE:SPOT) Shares Purchased by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. increased its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 13.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,512 shares of the company’s stock after purchasing an additional 408 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Spotify Technology were worth $660,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SPOT. Wellington Management Group LLP raised its holdings in Spotify Technology by 61.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,970,540 shares of the company’s stock valued at $459,364,000 after buying an additional 1,133,305 shares during the period. Schroder Investment Management Group increased its position in shares of Spotify Technology by 303.4% during the third quarter. Schroder Investment Management Group now owns 1,315,289 shares of the company’s stock valued at $203,396,000 after acquiring an additional 989,243 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Spotify Technology by 194.7% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,123,078 shares of the company’s stock valued at $173,673,000 after acquiring an additional 741,955 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Spotify Technology by 16.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,699,008 shares of the company’s stock worth $572,015,000 after acquiring an additional 523,237 shares during the last quarter. Finally, Citigroup Inc. boosted its position in shares of Spotify Technology by 1,037.4% during the 3rd quarter. Citigroup Inc. now owns 386,191 shares of the company’s stock worth $59,721,000 after purchasing an additional 352,237 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on SPOT shares. Piper Sandler restated a “neutral” rating and set a $320.00 price target (up from $300.00) on shares of Spotify Technology in a research note on Wednesday, April 24th. UBS Group raised their target price on Spotify Technology from $274.00 to $375.00 and gave the company a “buy” rating in a report on Friday, April 5th. Pivotal Research boosted their price target on shares of Spotify Technology from $390.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Spotify Technology from $260.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Finally, Macquarie upped their target price on shares of Spotify Technology from $300.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. Eight equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and an average target price of $306.42.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $298.21 on Wednesday. Spotify Technology S.A. has a 12 month low of $129.23 and a 12 month high of $319.30. The firm has a market capitalization of $56.72 billion, a P/E ratio of -445.08 and a beta of 1.61. The company’s fifty day moving average price is $277.33 and its 200 day moving average price is $226.31.

Spotify Technology (NYSE:SPOT) 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. The business had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.87 billion. Spotify Technology had a negative return on equity of 4.39% and a negative net margin of 0.80%. During the same quarter in the previous year, the firm earned ($1.24) earnings per share. On average, sell-side analysts anticipate that Spotify Technology S.A. will post 4.78 EPS for the current year.

About Spotify Technology

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.