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

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

A number of other institutional investors and hedge funds have also recently modified their holdings of SPOT. Norges Bank purchased a new stake in Spotify Technology during the 2nd quarter valued at $768,915,000. Capital World Investors boosted its stake in Spotify Technology by 40.7% during the third quarter. Capital World Investors now owns 2,730,713 shares of the company’s stock worth $1,906,260,000 after buying an additional 789,755 shares during the period. Capital Research Global Investors purchased a new position in Spotify Technology during the third quarter worth $512,190,000. Principal Financial Group Inc. increased its position in Spotify Technology by 3,534.9% during the third quarter. Principal Financial Group Inc. now owns 571,474 shares of the company’s stock valued at $398,889,000 after acquiring an additional 555,752 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in Spotify Technology by 22.7% during the second quarter. Fisher Asset Management LLC now owns 2,489,013 shares of the company’s stock valued at $1,909,920,000 after acquiring an additional 460,115 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

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

Spotify Technology Trading Up 1.0%

Shares of SPOT opened at $478.00 on Friday. The firm has a market capitalization of $98.41 billion, a P/E ratio of 49.59, a P/E/G ratio of 1.04 and a beta of 1.66. Spotify Technology has a 12-month low of $405.00 and a 12-month high of $785.00. The firm has a fifty day moving average price of $492.84 and a 200-day moving average price of $583.65.

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

Analyst Upgrades and Downgrades

SPOT has been the subject of several analyst reports. Weiss Ratings lowered shares of Spotify Technology from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. Citigroup upgraded shares of Spotify Technology from a “neutral” rating to a “buy” rating and set a $650.00 price target on the stock in a report on Friday, January 30th. Erste Group Bank lowered shares of Spotify Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 5th. Guggenheim decreased their price objective on shares of Spotify Technology from $720.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Finally, Pivotal Research lowered Spotify Technology from a “buy” rating to a “hold” rating and dropped their target price for the company from $875.00 to $420.00 in a research report on Wednesday, February 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $697.26.

Spotify Technology Profile

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.