Diversify Advisory Services LLC Purchases Shares of 851 Spotify Technology S.A. (NYSE:SPOT)

Diversify Advisory Services LLC acquired a new position in Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 851 shares of the company’s stock, valued at approximately $391,000.

Several other large investors have also recently modified their holdings of the company. LVW Advisors LLC acquired a new position in shares of Spotify Technology during the fourth quarter worth $292,000. Oak Ridge Investments LLC purchased a new position in Spotify Technology during the 4th quarter worth $5,248,000. Sandy Cove Advisors LLC increased its position in Spotify Technology by 7.9% during the 4th quarter. Sandy Cove Advisors LLC now owns 681 shares of the company’s stock valued at $305,000 after buying an additional 50 shares in the last quarter. Hanseatic Management Services Inc. raised its stake in Spotify Technology by 11.9% in the fourth quarter. Hanseatic Management Services Inc. now owns 432 shares of the company’s stock valued at $193,000 after buying an additional 46 shares during the last quarter. Finally, HB Wealth Management LLC boosted its holdings in Spotify Technology by 49.4% in the fourth quarter. HB Wealth Management LLC now owns 1,721 shares of the company’s stock worth $770,000 after acquiring an additional 569 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $493.52 on Thursday. The business’s 50 day moving average price is $471.69 and its 200-day moving average price is $392.84. Spotify Technology S.A. has a 1 year low of $204.57 and a 1 year high of $510.84. The firm has a market capitalization of $98.24 billion, a price-to-earnings ratio of 134.11 and a beta of 1.62.

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

Analyst Upgrades and Downgrades

SPOT has been the topic of several recent analyst reports. Barclays upped their price objective on shares of Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Macquarie raised their price target on shares of Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Morgan Stanley boosted their price objective on shares of Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Phillip Securities restated an “accumulate” rating and issued a $485.00 target price (up previously from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. Finally, Bank of America boosted their price target on Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $441.21.

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.