Continuum Advisory LLC Grows Holdings in Spotify Technology S.A. (NYSE:SPOT)

Continuum Advisory LLC increased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 11.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 349 shares of the company’s stock after buying an additional 36 shares during the period. Continuum Advisory LLC’s holdings in Spotify Technology were worth $156,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SPOT. Mpwm Advisory Solutions LLC acquired a new position in Spotify Technology during the fourth quarter worth about $26,000. Hillsdale Investment Management Inc. acquired a new position in Spotify Technology in the 4th quarter valued at about $27,000. Quent Capital LLC boosted its holdings in 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 purchasing an additional 57 shares during the last quarter. Noble Wealth Management PBC acquired a new position in Spotify Technology in the 4th quarter valued at about $52,000. Finally, Colonial Trust Co SC boosted its holdings in Spotify Technology by 1,009.1% in the 4th quarter. Colonial Trust Co SC now owns 122 shares of the company’s stock valued at $55,000 after purchasing an additional 111 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SPOT shares. Canaccord Genuity Group boosted their target price on shares of Spotify Technology from $700.00 to $775.00 and gave the company a “buy” rating in a report on Tuesday. KeyCorp decreased their target price 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. Rosenblatt Securities decreased their target price on shares of Spotify Technology from $658.00 to $657.00 and set a “neutral” rating on the stock in a report on Wednesday, April 30th. JPMorgan Chase & Co. boosted their target price on shares of Spotify Technology from $640.00 to $670.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group boosted their target price on shares of Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Eight analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, Spotify Technology has an average rating of “Moderate Buy” and an average price target of $609.07.

Spotify Technology Stock Down 1.0%

Shares of SPOT opened at $636.87 on Friday. Spotify Technology S.A. has a fifty-two week low of $288.07 and a fifty-two week high of $669.00. The firm’s 50 day moving average price is $592.68 and its 200 day moving average price is $539.84. The company has a market cap of $130.37 billion, a P/E ratio of 107.04 and a beta of 1.72.

Spotify Technology (NYSE:SPOT) last announced its earnings results 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). Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same period in the previous year, the company earned $0.97 earnings per share. Spotify Technology’s quarterly revenue was up 15.2% on a year-over-year basis. Research analysts forecast that Spotify Technology S.A. will post 10.3 earnings per share for the current year.

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.