Cloud Capital Management LLC Takes $205,000 Position in Spotify Technology (NYSE:SPOT)

Cloud Capital Management LLC acquired a new position in Spotify Technology (NYSE:SPOT - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 374 shares of the company's stock, valued at approximately $205,000.

Several other large investors have also recently bought and sold shares of SPOT. Mpwm Advisory Solutions LLC acquired a new position in Spotify Technology during the 4th quarter valued at about $26,000. Hillsdale Investment Management Inc. bought a new position in shares of Spotify Technology during the 4th quarter valued at about $27,000. Tsfg LLC bought a new position in shares of Spotify Technology during the 1st quarter valued at about $28,000. Copia Wealth Management bought a new position in shares of Spotify Technology during the 4th quarter valued at about $29,000. Finally, North Star Investment Management Corp. boosted its position in shares of Spotify Technology by 52.8% during the 1st quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after purchasing an additional 19 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SPOT shares. Macquarie raised their price objective on shares of Spotify Technology from $600.00 to $665.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. China Renaissance started coverage on shares of Spotify Technology in a research report on Wednesday, March 26th. They set a "buy" rating and a $740.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of Spotify Technology from $690.00 to $740.00 and gave the company an "overweight" rating in a research report on Friday, March 28th. Sanford C. Bernstein upgraded shares of Spotify Technology to a "strong-buy" rating in a research report on Tuesday, June 3rd. Finally, Wolfe Research upgraded shares of Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 price objective for the company in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Spotify Technology currently has an average rating of "Moderate Buy" and an average price target of $660.28.

Spotify Technology Price Performance

SPOT traded up $14.48 during midday trading on Friday, hitting $723.98. 1,078,903 shares of the company's stock traded hands, compared to its average volume of 2,228,612. The company has a market cap of $148.20 billion, a PE ratio of 120.06, a price-to-earnings-growth ratio of 1.91 and a beta of 1.68. The stock's fifty day simple moving average is $678.50 and its 200-day simple moving average is $592.85. Spotify Technology has a one year low of $288.07 and a one year high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 earnings per share for the quarter, missing the consensus estimate of $2.29 by ($1.16). Spotify Technology had a net margin of 7.19% and a return on equity of 22.53%. The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the previous year, the business posted $0.97 EPS. Spotify Technology's revenue was up 15.2% compared to the same quarter last year. On average, research analysts expect that Spotify Technology will post 10.3 EPS for the current 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.