377 Shares in Spotify Technology (NYSE:SPOT) Purchased by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC purchased a new stake in Spotify Technology (NYSE:SPOT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 377 shares of the company's stock, valued at approximately $207,000.

Other hedge funds have also recently bought and sold shares of the company. Mpwm Advisory Solutions LLC purchased a new position in shares of Spotify Technology during the 4th quarter valued at approximately $26,000. Hillsdale Investment Management Inc. acquired a new stake in Spotify Technology in the fourth quarter valued at $27,000. Tsfg LLC bought a new position in Spotify Technology during the 1st quarter valued at $28,000. Copia Wealth Management acquired a new position in Spotify Technology during the 4th quarter worth $29,000. Finally, Cornerstone Planning Group LLC increased its position in shares of Spotify Technology by 512.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock worth $29,000 after purchasing an additional 41 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Sanford C. Bernstein increased their price target on shares of Spotify Technology from $825.00 to $840.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Pivotal Research boosted their price target on Spotify Technology from $800.00 to $900.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. 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 research note on Thursday, May 1st. Rosenblatt Securities lowered their target price on shares of Spotify Technology from $658.00 to $657.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Spotify Technology from $730.00 to $780.00 and gave the company an "overweight" rating in a report on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Spotify Technology has an average rating of "Moderate Buy" and a consensus target price of $701.31.

Spotify Technology Trading Down 3.6%

Spotify Technology stock opened at $694.90 on Monday. The company has a market capitalization of $142.25 billion, a P/E ratio of 115.24, a P/E/G ratio of 1.85 and a beta of 1.68. Spotify Technology has a 1-year low of $290.13 and a 1-year high of $785.00. The firm's fifty day simple moving average is $696.06 and its 200-day simple moving average is $611.91.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share for the quarter, missing analysts' consensus estimates of $2.29 by ($1.16). The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. Spotify Technology had a return on equity of 22.53% and a net margin of 7.19%. Spotify Technology's quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 EPS. On average, equities research analysts predict that Spotify Technology will post 10.3 earnings per share for the current year.

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.

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