Advisory Resource Group Invests $991,000 in Spotify Technology (NYSE:SPOT)

Advisory Resource Group acquired a new stake in Spotify Technology (NYSE:SPOT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,801 shares of the company's stock, valued at approximately $991,000.

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

Spotify Technology Stock Performance

Spotify Technology stock opened at $710.76 on Thursday. The firm has a market cap of $145.50 billion, a price-to-earnings ratio of 117.87, a price-to-earnings-growth ratio of 1.89 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 price is $639.86 and its two-hundred day moving average price is $571.10.

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

Analyst Ratings Changes

A number of brokerages have commented on SPOT. KeyCorp decreased their target price on Spotify Technology from $675.00 to $625.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Phillip Securities upgraded Spotify Technology to a "moderate sell" rating in a research report on Monday, May 5th. Sanford C. Bernstein raised Spotify Technology to a "strong-buy" rating in a research report on Tuesday, June 3rd. Macquarie boosted their price target on shares of Spotify Technology from $600.00 to $665.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Spotify Technology from $670.00 to $730.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $630.28.

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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