Mayflower Financial Advisors LLC Buys Shares of 2,320 Spotify Technology $SPOT

Mayflower Financial Advisors LLC bought a new position in Spotify Technology (NYSE:SPOT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,320 shares of the company’s stock, valued at approximately $1,347,000.

Other large investors have also made changes to their positions in the company. Helios Capital Management PTE. Ltd. increased its position in Spotify Technology by 56.3% in the third quarter. Helios Capital Management PTE. Ltd. now owns 7,500 shares of the company’s stock worth $5,235,000 after buying an additional 2,700 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Spotify Technology by 35.1% during the 3rd quarter. Bessemer Group Inc. now owns 682,639 shares of the company’s stock valued at $476,483,000 after buying an additional 177,310 shares in the last quarter. Truxt Investmentos Ltda. purchased a new position in shares of Spotify Technology during the 3rd quarter valued at about $2,093,000. Ownership Capital B.V. bought a new position in shares of Spotify Technology during the 3rd quarter valued at approximately $2,769,000. Finally, Generali Asset Management SPA SGR grew its stake in shares of Spotify Technology by 30.9% during the 3rd quarter. Generali Asset Management SPA SGR now owns 68,023 shares of the company’s stock valued at $46,692,000 after acquiring an additional 16,054 shares during the period. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Price Performance

NYSE:SPOT opened at $478.00 on Friday. Spotify Technology has a 1 year low of $405.00 and a 1 year high of $785.00. The stock’s 50 day simple moving average is $492.84 and its two-hundred day simple moving average is $583.65. The company has a market cap of $98.41 billion, a price-to-earnings ratio of 49.59, a PEG ratio of 1.04 and a beta of 1.66.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, February 10th. The company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $3.16 by $2.00. Spotify Technology had a return on equity of 31.35% and a net margin of 13.16%.The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the prior year, the company earned $1.88 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, analysts anticipate that Spotify Technology will post 10.3 EPS for the current year.

Spotify Technology News Summary

Here are the key news stories impacting Spotify Technology this week:

• Positive Sentiment: Daiwa Securities initiated coverage of Spotify with an “outperform” rating and a $535 price target, signaling analyst confidence and potential upside versus the current level.
• Positive Sentiment: Product update — Spotify’s new “SongDNA” feature has been praised as a helpful discovery/engagement tool; improved user engagement and retention from product enhancements can support ad/subscriber revenue over time. Spotify’s new ‘SongDNA’ is actually a great way to learn more about your music
• Neutral Sentiment: Investor attention is elevated — Zacks and other outlets note heavy search interest in SPOT, which can increase volatility but doesn’t by itself change fundamentals. Investors Heavily Search Spotify Technology (SPOT)
• Neutral Sentiment: Ticker-name noise: a press release about EarthLabs Inc. (TSXV: SPOT) running a treasure-hunt promotion circulated recently — unrelated to Spotify but could cause short-term ticker confusion among retail flows. Six Ounces of Gold Hidden in New Brunswick…
• Negative Sentiment: Short-term price weakness — the stock recorded a modest pullback in the prior session (reported ~-2.4%), reflecting near-term profit-taking or market rotation that could damp intraday momentum. Spotify (SPOT) Stock Sinks As Market Gains

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Citizens Jmp assumed coverage on shares of Spotify Technology in a research note on Wednesday, December 17th. They set a “market outperform” rating and a $800.00 target price on the stock. Erste Group Bank lowered shares of Spotify Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 5th. Benchmark reduced their price objective on shares of Spotify Technology from $860.00 to $760.00 and set a “buy” rating for the company in a research note on Friday, January 16th. Weiss Ratings downgraded shares of Spotify Technology from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 26th. Finally, Sanford C. Bernstein lowered their target price on shares of Spotify Technology from $830.00 to $650.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $697.26.

About Spotify Technology

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.