Paradigm Financial Partners LLC Has $18.15 Million Position in Spotify Technology S.A. (NYSE:SPOT)

Paradigm Financial Partners LLC reduced its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 0.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,611 shares of the company’s stock after selling 122 shares during the period. Spotify Technology accounts for approximately 4.4% of Paradigm Financial Partners LLC’s portfolio, making the stock its biggest holding. Paradigm Financial Partners LLC’s holdings in Spotify Technology were worth $18,154,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in SPOT. Pinnacle Bancorp Inc. acquired a new position in shares of Spotify Technology in the 4th quarter valued at $29,000. GAMMA Investing LLC bought a new position in Spotify Technology during the 4th quarter worth $32,000. First Horizon Advisors Inc. lifted its holdings in Spotify Technology by 195.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock worth $27,000 after buying an additional 117 shares during the period. Lindbrook Capital LLC grew its position in shares of Spotify Technology by 32.3% in the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock valued at $39,000 after buying an additional 50 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC increased its stake in shares of Spotify Technology by 2,540.0% in the third quarter. Beaird Harris Wealth Management LLC now owns 264 shares of the company’s stock valued at $41,000 after buying an additional 254 shares during the period. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of Spotify Technology stock traded up $0.57 during trading on Friday, hitting $289.59. 2,477,228 shares of the company’s stock traded hands, compared to its average volume of 3,137,877. Spotify Technology S.A. has a 1 year low of $128.67 and a 1 year high of $319.30. The business has a 50-day simple moving average of $271.48 and a 200-day simple moving average of $219.09. The stock has a market capitalization of $57.43 billion, a P/E ratio of -432.22 and a beta of 1.63.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.42. The firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.87 billion. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. During the same period in the previous year, the business posted ($1.24) earnings per share. On average, equities analysts predict that Spotify Technology S.A. will post 4.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SPOT has been the topic of several analyst reports. Morgan Stanley upped their target price on Spotify Technology from $270.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. TheStreet raised shares of Spotify Technology from a “d+” rating to a “c-” rating in a research note on Friday, February 9th. Barclays upped their price target on shares of Spotify Technology from $335.00 to $350.00 and gave the company an “overweight” rating in a research report on Wednesday. Bank of America lifted their price objective on Spotify Technology from $315.00 to $370.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, HSBC raised their target price on Spotify Technology from $310.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and an average target price of $301.81.

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.