Spotify Technology (NYSE:SPOT) Shares Bought by D.A. Davidson & CO.

D.A. Davidson & CO. raised its stake in Spotify Technology (NYSE:SPOT - Free Report) by 11.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,903 shares of the company's stock after purchasing an additional 1,189 shares during the quarter. D.A. Davidson & CO.'s holdings in Spotify Technology were worth $6,547,000 at the end of the most recent reporting period.

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

Spotify Technology Price Performance

NYSE:SPOT traded up $12.35 on Monday, reaching $737.40. The stock had a trading volume of 1,554,979 shares, compared to its average volume of 2,225,922. The company has a market cap of $150.95 billion, a price-to-earnings ratio of 122.29, a P/E/G ratio of 1.91 and a beta of 1.68. The firm's fifty day moving average is $681.30 and its two-hundred day moving average is $595.75. 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.29 by ($1.16). Spotify Technology had a net margin of 7.19% and a return on equity of 22.53%. The firm had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.22 billion. During the same quarter last year, the company posted $0.97 earnings per share. Spotify Technology's revenue for the quarter was up 15.2% on a year-over-year basis. As a group, research analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SPOT has been the topic of a number of analyst reports. Evercore ISI lifted their price target on Spotify Technology from $650.00 to $750.00 and gave the company an "outperform" rating in a research note on Monday, June 16th. KeyCorp decreased their target price on Spotify Technology from $675.00 to $625.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. UBS Group boosted their target price on Spotify Technology from $680.00 to $895.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. The Goldman Sachs Group boosted their target price on Spotify Technology from $680.00 to $775.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, Sanford C. Bernstein upgraded Spotify Technology to a "strong-buy" rating in a research report on Tuesday, June 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $660.28.

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.