Quattro Financial Advisors LLC Makes New $868,000 Investment in Spotify (NASDAQ:SPOT)

Quattro Financial Advisors LLC purchased a new position in shares of Spotify (NASDAQ:SPOT) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,000 shares of the company’s stock, valued at approximately $868,000.

A number of other large investors have also modified their holdings of the business. Cohen Capital Management Inc. lifted its position in Spotify by 0.4% during the 1st quarter. Cohen Capital Management Inc. now owns 18,505 shares of the company’s stock worth $2,568,000 after buying an additional 75 shares in the last quarter. Flagship Harbor Advisors LLC lifted its position in Spotify by 40.7% during the 1st quarter. Flagship Harbor Advisors LLC now owns 280 shares of the company’s stock worth $38,000 after buying an additional 81 shares in the last quarter. Tocqueville Asset Management L.P. lifted its position in Spotify by 4.1% during the 1st quarter. Tocqueville Asset Management L.P. now owns 2,550 shares of the company’s stock worth $354,000 after buying an additional 100 shares in the last quarter. Kistler Tiffany Companies LLC lifted its position in Spotify by 28.1% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 538 shares of the company’s stock worth $79,000 after buying an additional 118 shares in the last quarter. Finally, Catalyst Capital Advisors LLC lifted its position in Spotify by 86.8% during the 1st quarter. Catalyst Capital Advisors LLC now owns 269 shares of the company’s stock worth $37,000 after buying an additional 125 shares in the last quarter.

Several equities research analysts have commented on SPOT shares. Buckingham Research cut their price target on shares of Spotify from $174.00 to $165.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Pivotal Research reissued a “hold” rating and set a $150.00 price target (down from $155.00) on shares of Spotify in a research report on Wednesday, July 31st. Raymond James boosted their price target on shares of Spotify from $172.00 to $180.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. Loop Capital upgraded shares of Spotify from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Rosenblatt Securities restated a “buy” rating on shares of Spotify in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $172.25.

SPOT traded down $1.06 on Wednesday, reaching $150.38. The company had a trading volume of 22,591 shares, compared to its average volume of 1,642,168. Spotify has a fifty-two week low of $103.29 and a fifty-two week high of $196.95. The firm’s fifty day simple moving average is $149.07.

Spotify (NASDAQ:SPOT) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.47) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.51) by $0.04. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the company posted ($2.20) EPS. The firm’s quarterly revenue was up 31.0% on a year-over-year basis.

Spotify Profile

Spotify Technology SA is an innovative digital music service offering music fans instant access to a world of music. The company enables on-demand streaming of audio content and aim to combat music piracy by offering a user experience, while monetizing licensed content with both an ad-supported, free-to-the-user model and a premium, paid model.

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Institutional Ownership by Quarter for Spotify (NASDAQ:SPOT)

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