SeaCrest Wealth Management LLC Purchases 189 Shares of Spotify Technology S.A. (NYSE:SPOT)

SeaCrest Wealth Management LLC boosted its position in Spotify Technology S.A. (NYSE:SPOT) by 11.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,806 shares of the company’s stock after buying an additional 189 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Spotify Technology were worth $808,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Prestige Wealth Management Group LLC acquired a new position in shares of Spotify Technology during the 3rd quarter worth about $26,000. Benjamin Edwards Inc. grew its stake in Spotify Technology by 214.8% in the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Spotify Technology during the 3rd quarter worth approximately $33,000. Larson Financial Group LLC raised its stake in shares of Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after purchasing an additional 33 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Spotify Technology in the 3rd quarter valued at approximately $40,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Up 5.6 %

SPOT opened at $489.56 on Thursday. Spotify Technology S.A. has a twelve month low of $191.88 and a twelve month high of $506.47. The stock has a market capitalization of $97.45 billion, a price-to-earnings ratio of 133.03 and a beta of 1.62. The company has a 50-day simple moving average of $463.33 and a 200 day simple moving average of $386.77.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same quarter in the prior year, the business posted $0.36 EPS. The business’s revenue was up 18.8% on a year-over-year basis. Sell-side analysts anticipate that Spotify Technology S.A. will post 6.02 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on SPOT. Barclays boosted their target price on shares of Spotify Technology from $385.00 to $475.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Bank of America upped their target price on shares of Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Wells Fargo & Company raised their target price on shares of Spotify Technology from $470.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Macquarie boosted their price target on Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Phillip Securities reaffirmed an “accumulate” rating and issued a $485.00 price objective (up from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $438.36.

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.