Spotify (SPOT) Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC grew its holdings in shares of Spotify (NASDAQ:SPOT) by 75.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,525 shares of the company’s stock after buying an additional 3,225 shares during the period. Janney Montgomery Scott LLC’s holdings in Spotify were worth $854,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Kistler Tiffany Companies LLC raised its position in shares of Spotify by 153.0% during the fourth quarter. Kistler Tiffany Companies LLC now owns 420 shares of the company’s stock worth $48,000 after purchasing an additional 254 shares during the period. Shine Investment Advisory Services Inc. raised its position in shares of Spotify by 21.6% during the fourth quarter. Shine Investment Advisory Services Inc. now owns 489 shares of the company’s stock worth $56,000 after purchasing an additional 87 shares during the period. Creative Financial Designs Inc. ADV raised its position in shares of Spotify by 22.8% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 522 shares of the company’s stock worth $59,000 after purchasing an additional 97 shares during the period. Riverhead Capital Management LLC acquired a new position in shares of Spotify during the third quarter worth approximately $145,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of Spotify by 8.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,320 shares of the company’s stock worth $150,000 after purchasing an additional 100 shares during the period.

Shares of Spotify stock opened at $151.19 on Friday. Spotify has a 1 year low of $103.29 and a 1 year high of $198.99.

Spotify (NASDAQ:SPOT) last announced its earnings results on Wednesday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.65. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. The firm’s revenue was up 30.1% on a year-over-year basis.

SPOT has been the topic of a number of research reports. Wells Fargo & Co lowered their target price on Spotify from $150.00 to $140.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 16th. Morgan Stanley reissued an “overweight” rating and issued a $170.00 price target (down from $200.00) on shares of Spotify in a research report on Friday, January 11th. Zacks Investment Research raised Spotify from a “hold” rating to a “buy” rating and set a $164.00 price target for the company in a research report on Tuesday, October 30th. B. Riley reissued a “neutral” rating and issued a $132.00 price target (down from $200.00) on shares of Spotify in a research report on Friday, December 21st. Finally, Barclays lowered their price target on Spotify from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $188.79.

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About Spotify

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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