Stratos Wealth Advisors LLC Increases Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Stratos Wealth Advisors LLC increased its stake in Spotify Technology S.A. (NYSE:SPOT) by 8.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,736 shares of the company’s stock after acquiring an additional 128 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Spotify Technology were worth $777,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SPOT. Jennison Associates LLC acquired a new position in shares of Spotify Technology during the 4th quarter worth about $1,335,575,000. Forsta AP Fonden purchased a new stake in Spotify Technology during the 4th quarter worth approximately $619,600,000. WCM Investment Management LLC raised its holdings in shares of Spotify Technology by 18.5% during the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after acquiring an additional 605,755 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Spotify Technology by 36,910.0% in the third quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock valued at $128,073,000 after acquiring an additional 346,585 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after acquiring an additional 297,035 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Price Performance

Shares of Spotify Technology stock opened at $625.67 on Friday. The stock has a market capitalization of $124.54 billion, a price-to-earnings ratio of 170.02 and a beta of 1.63. The business has a 50-day moving average of $488.02 and a 200 day moving average of $410.89. Spotify Technology S.A. has a 12 month low of $227.52 and a 12 month high of $630.77.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data 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 net margin of 4.66% and a return on equity of 19.07%. The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the previous year, the business posted $0.36 EPS. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. Equities research analysts anticipate that Spotify Technology S.A. will post 5.91 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. 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 note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $658.00 price objective (up previously from $473.00) on shares of Spotify Technology in a research note on Wednesday. UBS Group raised their target price on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Finally, Wolfe Research restated a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $514.79.

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.