Spotify Technology S.A. (NYSE:SPOT) Shares Bought by Accurate Wealth Management LLC

Accurate Wealth Management LLC raised its holdings in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 129.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,172 shares of the company's stock after purchasing an additional 1,226 shares during the period. Accurate Wealth Management LLC's holdings in Spotify Technology were worth $1,181,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SPOT. FMR LLC boosted its position in shares of Spotify Technology by 30.2% during the fourth quarter. FMR LLC now owns 2,041,387 shares of the company's stock valued at $913,276,000 after buying an additional 473,569 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of Spotify Technology by 0.4% in the 4th quarter. Schroder Investment Management Group now owns 1,912,937 shares of the company's stock worth $855,810,000 after buying an additional 7,075 shares during the last quarter. GQG Partners LLC bought a new stake in shares of Spotify Technology in the fourth quarter worth $800,725,000. Geode Capital Management LLC increased its position in Spotify Technology by 561.6% during the fourth quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock valued at $659,841,000 after acquiring an additional 1,259,183 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Spotify Technology by 103.7% in the fourth quarter. Northern Trust Corp now owns 1,426,902 shares of the company's stock worth $638,367,000 after purchasing an additional 726,245 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Performance

Shares of SPOT traded down $6.50 during mid-day trading on Tuesday, hitting $692.62. 1,694,662 shares of the company were exchanged, compared to its average volume of 2,212,669. The stock has a market cap of $141.78 billion, a price-to-earnings ratio of 116.41 and a beta of 1.68. Spotify Technology S.A. has a 1-year low of $288.07 and a 1-year high of $717.87. The company has a 50 day moving average of $615.58 and a 200-day moving average of $561.07.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 earnings per share (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 analysts' expectations 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 period in the prior year, the company posted $0.97 EPS. Research analysts anticipate that Spotify Technology S.A. will post 10.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on SPOT. Citigroup lifted their price objective on Spotify Technology from $540.00 to $720.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Barclays lowered their price objective on shares of Spotify Technology from $710.00 to $650.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. KeyCorp reduced their target price on shares of Spotify Technology from $675.00 to $625.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Robert W. Baird increased their price target on shares of Spotify Technology from $700.00 to $730.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, Cantor Fitzgerald decreased their price objective on Spotify Technology from $600.00 to $520.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Eight 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $611.14.

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.