1,191 Shares in Spotify Technology (NYSE:SPOT) Purchased by Banque Cantonale Vaudoise

Key Points

• Banque Cantonale Vaudoise acquired a new position in Spotify Technology worth approximately $655,000 by purchasing 1,191 shares in the first quarter.
• Spotify Technology reported Q2 earnings of $1.13 per share, significantly missing analysts' expectations of $2.29, despite a 15.2% increase in revenue year-over-year.
• Research firms have raised their price targets for Spotify, with Oppenheimer setting a new target at $800.00 and the average target across analysts at $718.90, indicating a predominately positive outlook.

Banque Cantonale Vaudoise purchased a new position in shares of Spotify Technology (NYSE:SPOT - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,191 shares of the company's stock, valued at approximately $655,000.

Other institutional investors have also added to or reduced their stakes in the company. Blair William & Co. IL increased its holdings in Spotify Technology by 84.8% during the 4th quarter. Blair William & Co. IL now owns 1,292 shares of the company's stock worth $578,000 after purchasing an additional 593 shares in the last quarter. Geode Capital Management LLC increased its holdings in Spotify Technology by 561.6% during the 4th 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 in the last quarter. Huntington National Bank increased its holdings in Spotify Technology by 131.6% during the 4th quarter. Huntington National Bank now owns 653 shares of the company's stock worth $292,000 after purchasing an additional 371 shares in the last quarter. Arete Wealth Advisors LLC bought a new stake in Spotify Technology during the 4th quarter worth approximately $277,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its holdings in Spotify Technology by 158.8% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,255 shares of the company's stock worth $561,000 after purchasing an additional 770 shares in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Trading Up 5.3%

Shares of NYSE:SPOT traded up $33.22 on Monday, reaching $660.37. 3,763,396 shares of the company traded hands, compared to its average volume of 2,514,255. The business's 50-day simple moving average is $700.71 and its 200 day simple moving average is $625.45. Spotify Technology has a 52 week low of $300.57 and a 52 week high of $785.00. The stock has a market capitalization of $135.18 billion, a P/E ratio of 160.28, a price-to-earnings-growth ratio of 2.71 and a beta of 1.69.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.00 by ($2.42). Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The company had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same period last year, the business posted $1.33 earnings per share. The firm's quarterly revenue was up 10.1% compared to the same quarter last year. Sell-side analysts expect that Spotify Technology will post 10.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on SPOT. Barclays decreased their price objective on Spotify Technology from $800.00 to $750.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Wells Fargo & Company upped their target price on Spotify Technology from $740.00 to $750.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Oppenheimer raised Spotify Technology from a "market perform" rating to an "outperform" rating and set a $800.00 target price for the company in a report on Thursday, July 24th. JPMorgan Chase & Co. upped their target price on Spotify Technology from $730.00 to $780.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, Cantor Fitzgerald upped their target price on Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Nine investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $718.90.

Spotify Technology Company 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.