1,219 Shares in Spotify Technology S.A. (NYSE:SPOT) Purchased by 111 Capital

111 Capital acquired a new position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,219 shares of the company's stock, valued at approximately $545,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mpwm Advisory Solutions LLC acquired a new stake in Spotify Technology during the 4th quarter valued at $26,000. Hillsdale Investment Management Inc. acquired a new stake in Spotify Technology during the 4th quarter valued at $27,000. Copia Wealth Management acquired a new stake in Spotify Technology during the 4th quarter valued at $29,000. Quent Capital LLC grew its holdings in Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock valued at $44,000 after buying an additional 57 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in shares of Spotify Technology during the fourth quarter worth $52,000. Hedge funds and other institutional investors own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SPOT shares. Robert W. Baird raised their price objective on Spotify Technology from $700.00 to $730.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. FBN Securities started coverage on Spotify Technology in a report on Friday, March 28th. They set a "sector perform" rating and a $645.00 price objective on the stock. Rosenblatt Securities decreased their price objective on Spotify Technology from $658.00 to $657.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Benchmark increased their target price on Spotify Technology from $600.00 to $720.00 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. Finally, Loop Capital increased their target price on Spotify Technology from $435.00 to $550.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Eight investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Spotify Technology currently has a consensus rating of "Moderate Buy" and an average target price of $609.07.

Spotify Technology Stock Up 0.9%

Shares of Spotify Technology stock traded up $5.99 during trading hours on Monday, hitting $671.13. 1,860,180 shares of the company's stock traded hands, compared to its average volume of 2,226,111. The stock has a 50 day simple moving average of $601.82 and a 200-day simple moving average of $552.95. The company has a market cap of $137.38 billion, a PE ratio of 112.79 and a beta of 1.72. Spotify Technology S.A. has a twelve month low of $288.07 and a twelve month high of $675.00.

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

About Spotify Technology

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.