NBC Securities Inc. acquired a new position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 699 shares of the company's stock, valued at approximately $384,000.
Several other hedge funds have also modified their holdings of SPOT. Yousif Capital Management LLC grew its position in Spotify Technology by 46.4% during the fourth quarter. Yousif Capital Management LLC now owns 6,858 shares of the company's stock valued at $3,068,000 after acquiring an additional 2,174 shares during the period. Stratos Wealth Partners LTD. increased its position in Spotify Technology by 39.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 1,248 shares of the company's stock worth $558,000 after purchasing an additional 356 shares in the last quarter. Stratos Wealth Advisors LLC increased its position in Spotify Technology by 8.0% during the 4th quarter. Stratos Wealth Advisors LLC now owns 1,736 shares of the company's stock worth $777,000 after purchasing an additional 128 shares in the last quarter. Bleakley Financial Group LLC lifted its position in Spotify Technology by 9.8% during the fourth quarter. Bleakley Financial Group LLC now owns 2,322 shares of the company's stock valued at $1,039,000 after buying an additional 207 shares in the last quarter. Finally, Financial Advocates Investment Management lifted its position in Spotify Technology by 6.0% during the fourth quarter. Financial Advocates Investment Management now owns 1,183 shares of the company's stock valued at $529,000 after buying an additional 67 shares in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on SPOT. KeyCorp decreased their price target on shares of Spotify Technology from $675.00 to $625.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Sanford C. Bernstein upgraded Spotify Technology to a "strong-buy" rating in a research note on Tuesday, June 3rd. Evercore ISI reduced their price target on Spotify Technology from $700.00 to $650.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Guggenheim restated a "buy" rating on shares of Spotify Technology in a report on Friday. Finally, Phillip Securities raised shares of Spotify Technology to a "moderate sell" rating in a research report on Monday, May 5th. Eight equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $611.14.
View Our Latest Stock Report on SPOT
Spotify Technology Price Performance
Shares of NYSE:SPOT traded down $6.50 during trading on Tuesday, reaching $692.62. 1,694,662 shares of the company's stock traded hands, compared to its average volume of 2,215,329. The stock has a market capitalization of $141.78 billion, a P/E ratio of 116.41 and a beta of 1.68. Spotify Technology S.A. has a 12 month low of $288.07 and a 12 month high of $717.87. The company has a 50 day moving average of $618.26 and a 200-day moving average of $561.98.
Spotify Technology (NYSE:SPOT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $1.13 EPS 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 net margin of 7.26% and a return on equity of 25.56%. The business's revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.97 earnings per share. Equities research analysts predict that Spotify Technology S.A. will post 10.3 earnings per share for the current fiscal year.
Spotify Technology Company Profile
(
Free Report)
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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