Benjamin Edwards Inc. Has $2.54 Million Position in Spotify Technology S.A. (NYSE:SPOT)

Benjamin Edwards Inc. lifted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 29.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,672 shares of the company’s stock after acquiring an additional 1,298 shares during the period. Benjamin Edwards Inc.’s holdings in Spotify Technology were worth $2,538,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Thrivent Financial for Lutherans lifted its holdings in shares of Spotify Technology by 566.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 7,980 shares of the company’s stock valued at $3,541,000 after acquiring an additional 6,782 shares during the period. Jennison Associates LLC bought a new position in Spotify Technology during the 4th quarter valued at about $1,335,575,000. Marks Group Wealth Management Inc acquired a new position in Spotify Technology in the fourth quarter valued at about $535,000. Patriot Financial Group Insurance Agency LLC bought a new stake in Spotify Technology during the fourth quarter worth about $214,000. Finally, Swedbank AB increased its holdings in shares of Spotify Technology by 20.9% during the fourth quarter. Swedbank AB now owns 946,129 shares of the company’s stock worth $423,279,000 after buying an additional 163,626 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Price Performance

NYSE SPOT opened at $634.42 on Wednesday. Spotify Technology S.A. has a one year low of $286.21 and a one year high of $653.32. The stock’s 50-day moving average is $571.98 and its 200-day moving average is $519.24. The firm has a market cap of $129.87 billion, a P/E ratio of 106.63 and a beta of 1.72.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 earnings per share for the quarter, missing the consensus estimate of $2.29 by ($1.16). The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.97 earnings per share. Equities analysts anticipate that Spotify Technology S.A. will post 10.3 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on SPOT shares. Cantor Fitzgerald reduced their target price on Spotify Technology from $600.00 to $520.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Guggenheim restated a “buy” rating and issued a $675.00 target price on shares of Spotify Technology in a research note on Monday, February 24th. Evercore ISI cut their price target on Spotify Technology from $700.00 to $650.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. KeyCorp decreased their price objective on shares of Spotify Technology from $675.00 to $625.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Finally, UBS Group dropped their target price on shares of Spotify Technology from $690.00 to $680.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and a consensus price target of $604.76.

Spotify Technology 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.