Captrust Financial Advisors Has $19.52 Million Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Captrust Financial Advisors boosted its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 4.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,630 shares of the company’s stock after purchasing an additional 1,825 shares during the quarter. Captrust Financial Advisors’ holdings in Spotify Technology were worth $19,519,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SPOT. Hillsdale Investment Management Inc. bought a new position in Spotify Technology during the fourth quarter worth about $27,000. Quent Capital LLC raised its position in shares of Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after acquiring an additional 57 shares during the period. Noble Wealth Management PBC bought a new position in Spotify Technology during the 4th quarter worth approximately $52,000. Larson Financial Group LLC grew its holdings in Spotify Technology by 48.5% during the fourth quarter. Larson Financial Group LLC now owns 144 shares of the company’s stock valued at $64,000 after purchasing an additional 47 shares during the period. Finally, Golden State Wealth Management LLC bought a new stake in Spotify Technology in the fourth quarter valued at approximately $69,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SPOT shares. Evercore ISI decreased their price target on shares of Spotify Technology from $700.00 to $650.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Benchmark boosted their target price on Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Citigroup raised their price target on Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Morgan Stanley boosted their price objective on Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Finally, China Renaissance began coverage on shares of Spotify Technology in a report on Wednesday, March 26th. They set a “buy” rating and a $740.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $604.76.

Spotify Technology Stock Down 0.5 %

NYSE:SPOT opened at $634.42 on Wednesday. Spotify Technology S.A. has a 12-month low of $286.21 and a 12-month high of $653.32. The firm has a market capitalization of $129.87 billion, a price-to-earnings ratio of 106.63 and a beta of 1.72. The stock’s 50 day moving average price is $571.98 and its two-hundred day moving average price is $519.24.

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

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.