Spotify Technology S.A. (NYSE:SPOT) Shares Purchased by Ethic Inc.

Ethic Inc. lifted its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 5.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,979 shares of the company's stock after purchasing an additional 672 shares during the quarter. Ethic Inc.'s holdings in Spotify Technology were worth $6,254,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Hillsdale Investment Management Inc. purchased a new stake in Spotify Technology during the fourth quarter valued at approximately $27,000. Quent Capital LLC raised its position in Spotify Technology by 135.7% during the fourth quarter. Quent Capital LLC now owns 99 shares of the company's stock valued at $44,000 after purchasing an additional 57 shares during the period. Noble Wealth Management PBC purchased a new stake in Spotify Technology during the fourth quarter valued at approximately $52,000. Colonial Trust Co SC raised its position in Spotify Technology by 1,009.1% during the fourth quarter. Colonial Trust Co SC now owns 122 shares of the company's stock valued at $55,000 after purchasing an additional 111 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new stake in Spotify Technology during the fourth quarter valued at approximately $56,000. 84.09% of the stock is owned by institutional investors.

Spotify Technology Trading Down 4.3%

Shares of SPOT stock traded down $28.01 during trading hours on Monday, reaching $620.25. 3,744,028 shares of the company's stock were exchanged, compared to its average volume of 2,178,890. The stock's 50 day moving average is $576.15 and its 200-day moving average is $527.61. The company has a market cap of $126.97 billion, a price-to-earnings ratio of 104.24 and a beta of 1.72. Spotify Technology S.A. has a fifty-two week low of $286.21 and a fifty-two week high of $663.55.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.29 by ($1.16). Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period in the previous year, the company posted $0.97 earnings per share. The business's revenue for the quarter was up 15.2% on a year-over-year basis. Equities analysts anticipate that Spotify Technology S.A. will post 10.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Phillip Securities upgraded Spotify Technology to a "moderate sell" rating in a research report on Monday, May 5th. Barclays cut their target price on Spotify Technology from $710.00 to $650.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Guggenheim upped their target price on Spotify Technology from $675.00 to $725.00 and gave the company a "buy" rating in a research note on Monday. Cantor Fitzgerald cut their target price on Spotify Technology from $600.00 to $520.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Finally, Canaccord Genuity Group upped their target price on Spotify Technology from $650.00 to $700.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Spotify Technology currently has a consensus rating of "Moderate Buy" and an average price target of $606.48.

Spotify Technology 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.