Brown Advisory Inc. Increases Stock Holdings in Spotify Technology (NYSE:SPOT)

Brown Advisory Inc. grew its stake in Spotify Technology (NYSE:SPOT - Free Report) by 886.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,186 shares of the company's stock after buying an additional 31,620 shares during the period. Brown Advisory Inc.'s holdings in Spotify Technology were worth $19,353,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Mpwm Advisory Solutions LLC purchased a new position in shares of Spotify Technology during the fourth quarter worth approximately $26,000. Hillsdale Investment Management Inc. acquired a new position in Spotify Technology in the fourth quarter valued at $27,000. Tsfg LLC purchased a new stake in shares of Spotify Technology in the first quarter valued at about $28,000. Copia Wealth Management acquired a new stake in shares of Spotify Technology during the fourth quarter worth about $29,000. Finally, North Star Investment Management Corp. grew its holdings in shares of Spotify Technology by 52.8% during the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after buying an additional 19 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $721.25 on Thursday. The company has a 50-day simple moving average of $686.31 and a 200-day simple moving average of $597.48. The company has a market cap of $147.64 billion, a PE ratio of 119.61, a price-to-earnings-growth ratio of 1.90 and a beta of 1.68. Spotify Technology has a 12 month low of $288.07 and a 12 month high of $785.00.

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). Spotify Technology had a return on equity of 22.53% and a net margin of 7.19%. The firm had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.22 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. The firm's revenue was up 15.2% on a year-over-year basis. On average, analysts anticipate that Spotify Technology will post 10.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Robert W. Baird increased their price objective on Spotify Technology from $700.00 to $730.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. increased their price target on Spotify Technology from $670.00 to $730.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Pivotal Research boosted their price objective on shares of Spotify Technology from $800.00 to $900.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Macquarie raised their target price on shares of Spotify Technology from $600.00 to $665.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Finally, Loop Capital boosted their price target on shares of Spotify Technology from $435.00 to $550.00 and gave the stock a "hold" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $671.27.

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.

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