Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC lifted its stake in Spotify Technology S.A. (NYSE:SPOT) by 199.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 92,302 shares of the company’s stock after purchasing an additional 61,478 shares during the quarter. SG Americas Securities LLC’s holdings in Spotify Technology were worth $24,358,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SPOT. Larson Financial Group LLC increased 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 buying an additional 43 shares during the last quarter. FinTrust Capital Advisors LLC grew its position in Spotify Technology by 400.0% in the first 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 period. Future Financial Wealth Managment LLC acquired a new stake in Spotify Technology during the first quarter worth $40,000. Pinnacle Bancorp Inc. acquired a new position in shares of Spotify Technology in the 4th quarter valued at $29,000. Finally, GAMMA Investing LLC purchased a new position in shares of Spotify Technology during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

SPOT traded up $1.29 on Friday, reaching $302.27. The company’s stock had a trading volume of 1,244,537 shares, compared to its average volume of 1,447,657. Spotify Technology S.A. has a fifty-two week low of $129.23 and a fifty-two week high of $331.08. The stock has a 50 day moving average of $308.47 and a two-hundred day moving average of $268.63.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, April 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.42. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the prior year, the business posted ($1.24) EPS. Research analysts predict that Spotify Technology S.A. will post 4.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Raymond James upped their target price on shares of Spotify Technology from $260.00 to $320.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Bank of America boosted their target price on Spotify Technology from $370.00 to $380.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Macquarie upped their price target on Spotify Technology from $300.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. JPMorgan Chase & Co. lifted their price objective on Spotify Technology from $365.00 to $375.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. Finally, KeyCorp increased their target price on Spotify Technology from $400.00 to $410.00 and gave the stock an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Spotify Technology presently has an average rating of “Moderate Buy” and a consensus target price of $323.22.

Spotify Technology Company Profile

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.