U.S. Capital Wealth Advisors LLC Makes New $221,000 Investment in Spotify Technology S.A. (NYSE:SPOT)

U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 704 shares of the company’s stock, valued at approximately $221,000.

Other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC raised its position in Spotify Technology by 7.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 25,143 shares of the company’s stock worth $4,725,000 after purchasing an additional 1,693 shares in the last quarter. Bleakley Financial Group LLC lifted its position in shares of Spotify Technology by 15.2% during the 4th quarter. Bleakley Financial Group LLC now owns 1,550 shares of the company’s stock worth $291,000 after buying an additional 204 shares during the period. International Assets Investment Management LLC acquired a new stake in Spotify Technology in the 4th quarter valued at $32,944,000. RFG Advisory LLC bought a new stake in Spotify Technology in the fourth quarter valued at $223,000. Finally, Sequoia Financial Advisors LLC acquired a new position in Spotify Technology during the fourth quarter worth $708,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Stock Up 0.5 %

Shares of SPOT stock traded up $1.58 during trading on Friday, reaching $339.90. The company’s stock had a trading volume of 1,213,055 shares, compared to its average volume of 2,003,084. Spotify Technology S.A. has a one year low of $129.23 and a one year high of $359.38. The business has a fifty day moving average price of $316.28 and a 200-day moving average price of $285.95. The company has a market cap of $67.66 billion, a price-to-earnings ratio of -507.31 and a beta of 1.59. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.25. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the previous year, the business earned ($1.69) earnings per share. Spotify Technology’s quarterly revenue was up 19.8% on a year-over-year basis. Analysts anticipate that Spotify Technology S.A. will post 6.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

SPOT has been the topic of several research analyst reports. Citigroup upped their price objective on shares of Spotify Technology from $255.00 to $310.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Piper Sandler restated a “neutral” rating and set a $320.00 target price (up previously from $300.00) on shares of Spotify Technology in a report on Wednesday, April 24th. Wolfe Research started coverage on Spotify Technology in a report on Friday, July 12th. They issued an “outperform” rating and a $390.00 price target for the company. Morgan Stanley increased their price target on shares of Spotify Technology from $370.00 to $400.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Barclays boosted their price objective on shares of Spotify Technology from $350.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Spotify Technology has a consensus rating of “Moderate Buy” and an average price target of $353.15.

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.