LifeWealth Investments LLC Takes Position in Spotify Technology (NYSE:SPOT)

LifeWealth Investments LLC acquired a new stake in shares of Spotify Technology (NYSE:SPOT) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 472 shares of the company’s stock, valued at approximately $260,000.

A number of other large investors also recently bought and sold shares of the business. FMR LLC boosted its holdings in shares of Spotify Technology by 30.2% in the 4th quarter. FMR LLC now owns 2,041,387 shares of the company’s stock valued at $913,276,000 after buying an additional 473,569 shares in the last quarter. Schroder Investment Management Group lifted its position in Spotify Technology by 0.4% during the fourth quarter. Schroder Investment Management Group now owns 1,912,937 shares of the company’s stock valued at $855,810,000 after acquiring an additional 7,075 shares during the last quarter. GQG Partners LLC purchased a new stake in Spotify Technology during the fourth quarter valued at approximately $800,725,000. Geode Capital Management LLC boosted its stake in Spotify Technology by 561.6% in the fourth quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company’s stock valued at $659,841,000 after acquiring an additional 1,259,183 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Spotify Technology by 103.7% in the fourth quarter. Northern Trust Corp now owns 1,426,902 shares of the company’s stock worth $638,367,000 after purchasing an additional 726,245 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Down 1.5%

Spotify Technology stock opened at $710.76 on Thursday. The firm has a market cap of $145.50 billion, a PE ratio of 117.87, a P/E/G ratio of 1.89 and a beta of 1.68. Spotify Technology has a 12 month low of $288.07 and a 12 month high of $728.80. The stock’s 50 day simple moving average is $639.86 and its two-hundred day simple moving average is $571.10.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($1.16). Spotify Technology had a net margin of 7.19% and a return on equity of 22.53%. The firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the prior year, the firm earned $0.97 earnings per share. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. On average, equities research analysts forecast that Spotify Technology will post 10.3 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SPOT. China Renaissance initiated coverage on Spotify Technology in a research report on Wednesday, March 26th. They issued a “buy” rating and a $740.00 price objective for the company. Robert W. Baird increased their price target on Spotify Technology from $700.00 to $730.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Redburn Atlantic began coverage on Spotify Technology in a research note on Tuesday, March 11th. They set a “neutral” rating and a $545.00 price target on the stock. DZ Bank lowered shares of Spotify Technology from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, June 13th. Finally, Guggenheim reiterated a “buy” rating on shares of Spotify Technology in a research note on Friday, June 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $630.28.

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.