905 Shares in Spotify Technology (NYSE:SPOT) Acquired by Whalen Wealth Management Inc.

Whalen Wealth Management Inc. bought a new position in shares of Spotify Technology (NYSE:SPOT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 905 shares of the company's stock, valued at approximately $498,000.

Other hedge funds have also bought and sold shares of the company. GQG Partners LLC acquired a new stake in Spotify Technology in the fourth quarter valued at about $800,725,000. Geode Capital Management LLC grew its stake in shares of Spotify Technology by 561.6% in the fourth quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock worth $659,841,000 after purchasing an additional 1,259,183 shares during the last quarter. Norges Bank acquired a new position in shares of Spotify Technology in the fourth quarter worth approximately $396,028,000. Janus Henderson Group PLC increased its position in shares of Spotify Technology by 325.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,125,465 shares of the company's stock worth $503,316,000 after buying an additional 861,232 shares during the period. Finally, Northern Trust Corp raised its position in shares of Spotify Technology by 103.7% in the 4th quarter. Northern Trust Corp now owns 1,426,902 shares of the company's stock worth $638,367,000 after acquiring an additional 726,245 shares in the last quarter. 84.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SPOT. FBN Securities assumed coverage on shares of Spotify Technology in a report on Friday, March 28th. They set a "sector perform" rating and a $645.00 price objective for the company. Macquarie increased their price objective on Spotify Technology from $600.00 to $665.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. DZ Bank lowered shares of Spotify Technology from a "strong-buy" rating to a "strong sell" rating in a report on Friday, June 13th. China Renaissance started coverage on shares of Spotify Technology in a research report on Wednesday, March 26th. They set a "buy" rating and a $740.00 price target for the company. Finally, Robert W. Baird lifted their target price on shares of Spotify Technology from $700.00 to $730.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Spotify Technology has an average rating of "Moderate Buy" and a consensus target price of $630.28.

Spotify Technology Trading Down 0.4%

Shares of NYSE SPOT opened at $707.64 on Monday. The firm has a market capitalization of $144.86 billion, a PE ratio of 117.35, a price-to-earnings-growth ratio of 1.85 and a beta of 1.68. Spotify Technology has a 1 year low of $288.07 and a 1 year high of $728.80. The firm's 50-day moving average is $646.29 and its 200-day moving average is $575.23.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $1.13 EPS 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 return on equity of 22.53% and a net margin of 7.19%. The business's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 EPS. As a group, equities research analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current fiscal 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.

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