AMS Capital Ltda Invests $1 Million in Spotify Technology S.A. (NYSE:SPOT)

AMS Capital Ltda bought a new stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 1,818 shares of the company's stock, valued at approximately $1,000,000. Spotify Technology comprises 0.4% of AMS Capital Ltda's holdings, making the stock its 16th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPOT. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Spotify Technology by 209.1% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 68 shares of the company's stock valued at $37,000 after purchasing an additional 46 shares during the period. Portside Wealth Group LLC bought a new stake in Spotify Technology in the 1st quarter valued at $375,000. Whipplewood Advisors LLC lifted its holdings in shares of Spotify Technology by 93.6% during the 1st quarter. Whipplewood Advisors LLC now owns 577 shares of the company's stock worth $317,000 after acquiring an additional 279 shares during the period. Fulton Bank N.A. lifted its holdings in shares of Spotify Technology by 55.3% during the 1st quarter. Fulton Bank N.A. now owns 1,489 shares of the company's stock worth $819,000 after acquiring an additional 530 shares during the period. Finally, Merit Financial Group LLC lifted its holdings in shares of Spotify Technology by 28.7% during the 1st quarter. Merit Financial Group LLC now owns 4,180 shares of the company's stock worth $2,299,000 after acquiring an additional 932 shares during the period. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Trading Down 0.1%

Shares of NYSE:SPOT traded down $0.58 during trading on Friday, hitting $712.24. 936,504 shares of the company's stock were exchanged, compared to its average volume of 2,219,034. Spotify Technology S.A. has a 1-year low of $288.07 and a 1-year high of $717.87. The firm has a 50-day moving average price of $612.90 and a two-hundred day moving average price of $559.50. The firm has a market cap of $145.80 billion, a P/E ratio of 119.70 and a beta of 1.68.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly 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). Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the prior year, the firm earned $0.97 EPS. The firm's quarterly revenue was up 15.2% compared to the same quarter last year. As a group, research analysts predict that Spotify Technology S.A. will post 10.3 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SPOT. Sanford C. Bernstein raised shares of Spotify Technology to a "strong-buy" rating in a report on Tuesday, June 3rd. Wells Fargo & Company raised their price objective on shares of Spotify Technology from $690.00 to $740.00 and gave the stock an "overweight" rating in a report on Friday, March 28th. China Renaissance began coverage on shares of Spotify Technology in a report on Wednesday, March 26th. They set a "buy" rating and a $740.00 price objective for the company. Citigroup raised their price objective on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Finally, Evercore ISI reduced their price objective on shares of Spotify Technology from $700.00 to $650.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Eight analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock 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.