Focus Financial Network Inc. Invests $232,000 in Spotify Technology S.A. (NYSE:SPOT)

Focus Financial Network Inc. bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 518 shares of the company’s stock, valued at approximately $232,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. grew its position in shares of Spotify Technology by 5.8% during the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock valued at $176,000 after purchasing an additional 26 shares in the last quarter. West Bancorporation Inc. grew its holdings in Spotify Technology by 3.4% during the 3rd quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock valued at $305,000 after buying an additional 27 shares in the last quarter. Joel Isaacson & Co. LLC increased its stake in Spotify Technology by 1.9% in the 4th quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company’s stock worth $697,000 after acquiring an additional 29 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of Spotify Technology by 12.0% during the 3rd quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock worth $104,000 after acquiring an additional 30 shares in the last quarter. Finally, Park National Corp OH boosted its position in shares of Spotify Technology by 4.1% during the 4th quarter. Park National Corp OH now owns 793 shares of the company’s stock valued at $355,000 after acquiring an additional 31 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Down 1.6 %

Spotify Technology stock opened at $637.75 on Friday. The firm has a market cap of $126.94 billion, a P/E ratio of 107.18 and a beta of 1.63. Spotify Technology S.A. has a twelve month low of $239.66 and a twelve month high of $652.63. The business has a fifty day moving average of $505.57 and a two-hundred day moving average of $423.21.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same period in the previous year, the business earned $0.36 EPS. Spotify Technology’s revenue for the quarter was up 18.8% compared to the same quarter last year. Equities analysts expect that Spotify Technology S.A. will post 9.69 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Barclays boosted their price target on shares of Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Macquarie boosted their target price on shares of Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Wells Fargo & Company increased their price target on shares of Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Wolfe Research reissued a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Finally, KeyCorp upped their price objective on Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and a consensus target price of $529.43.

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.