LVW Advisors LLC Makes New $292,000 Investment in Spotify Technology S.A. (NYSE:SPOT)

LVW Advisors LLC purchased a new position in Spotify Technology S.A. (NYSE:SPOT) in the fourth quarter, Holdings Channel reports. The fund purchased 652 shares of the company’s stock, valued at approximately $292,000.

Several other large investors also recently made changes to their positions in the stock. First Horizon Advisors Inc. lifted its holdings in Spotify Technology by 5.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock worth $176,000 after purchasing an additional 26 shares during the last quarter. West Bancorporation Inc. raised its position in shares of Spotify Technology by 3.4% in the third quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock valued at $305,000 after purchasing an additional 27 shares during the period. Avior Wealth Management LLC boosted its holdings in shares of Spotify Technology by 12.0% during the 3rd quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock worth $104,000 after buying an additional 30 shares during the period. Park National Corp OH boosted its holdings in shares of Spotify Technology by 4.1% during the 4th quarter. Park National Corp OH now owns 793 shares of the company’s stock worth $355,000 after buying an additional 31 shares during the period. Finally, Washington Trust Advisors Inc. grew its stake in Spotify Technology by 12.0% in the 3rd quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock valued at $110,000 after buying an additional 32 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Down 0.9 %

NYSE:SPOT opened at $486.07 on Tuesday. The firm has a market cap of $96.75 billion, a PE ratio of 132.08 and a beta of 1.62. Spotify Technology S.A. has a 12 month low of $200.81 and a 12 month high of $506.47. The company’s 50-day moving average price is $468.82 and its two-hundred day moving average price is $390.44.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, November 12th. The company reported $1.45 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 business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same period in the previous year, the firm earned $0.36 earnings per share. The firm’s revenue was up 18.8% compared to the same quarter last year. On average, research analysts expect that Spotify Technology S.A. will post 5.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Macquarie upped their price target on shares of Spotify Technology from $395.00 to $500.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Rosenblatt Securities increased their target price on Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. UBS Group lifted their price target on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Pivotal Research increased their price objective on Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company boosted their target price on shares of Spotify Technology from $470.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, Spotify Technology presently has an average rating of “Moderate Buy” and an average target price of $441.21.

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.