Bosman Wealth Management LLC Takes Position in Spotify Technology (NYSE:SPOT)

Bosman Wealth Management LLC purchased a new stake in Spotify Technology (NYSE:SPOT - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 420 shares of the company's stock, valued at approximately $231,000.

A number of other large investors have also made changes to their positions in the stock. Mpwm Advisory Solutions LLC purchased a new position in Spotify Technology during the 4th quarter valued at about $26,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Spotify Technology during the fourth quarter worth about $27,000. Tsfg LLC purchased a new stake in shares of Spotify Technology during the first quarter worth about $28,000. Copia Wealth Management purchased a new stake in shares of Spotify Technology during the fourth quarter worth about $29,000. Finally, Cornerstone Planning Group LLC grew its holdings in shares of Spotify Technology by 512.5% during the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock worth $29,000 after buying an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SPOT shares. Wolfe Research upgraded shares of Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 price target for the company in a report on Monday, April 21st. KeyCorp decreased their target price on shares of Spotify Technology from $675.00 to $625.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Phillip Securities raised shares of Spotify Technology to a "moderate sell" rating in a research report on Monday, May 5th. Cantor Fitzgerald raised their target price on shares of Spotify Technology from $610.00 to $640.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. Finally, Rosenblatt Securities decreased their target price on shares of Spotify Technology from $658.00 to $657.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Spotify Technology has an average rating of "Moderate Buy" and a consensus price target of $681.27.

Spotify Technology Stock Down 1.8%

SPOT stock opened at $709.35 on Friday. Spotify Technology has a fifty-two week low of $288.07 and a fifty-two week high of $785.00. The firm's 50-day simple moving average is $688.46 and its 200 day simple moving average is $599.23. The stock has a market cap of $145.21 billion, a PE ratio of 117.64, a price-to-earnings-growth ratio of 1.90 and a beta of 1.68.

Spotify Technology (NYSE:SPOT - Get Free Report) last released 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 company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. Spotify Technology had a net margin of 7.19% and a return on equity of 22.53%. The firm's quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.97 EPS. Equities analysts forecast that Spotify Technology will post 10.3 EPS 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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