DekaBank Deutsche Girozentrale cut its position in shares of Spotify Technology (NYSE:SPOT - Free Report) by 8.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,683 shares of the company's stock after selling 5,394 shares during the period. DekaBank Deutsche Girozentrale's holdings in Spotify Technology were worth $30,178,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Tsfg LLC purchased a new stake in Spotify Technology in the 1st quarter valued at about $28,000. North Star Investment Management Corp. raised its holdings in shares of Spotify Technology by 52.8% in 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. Mpwm Advisory Solutions LLC bought a new stake in shares of Spotify Technology in the 4th quarter valued at about $26,000. Hillsdale Investment Management Inc. bought a new stake in shares of Spotify Technology in the 4th quarter valued at about $27,000. Finally, Copia Wealth Management bought a new stake in shares of Spotify Technology in the 4th quarter valued at about $29,000. 84.09% of the stock is owned by hedge funds and other institutional investors.
Spotify Technology Stock Performance
Shares of NYSE SPOT opened at $721.25 on Thursday. The company's fifty day moving average price is $686.31 and its 200 day moving average price is $597.48. Spotify Technology has a 1 year low of $288.07 and a 1 year high of $785.00. The company has a market capitalization 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 (NYSE:SPOT - Get Free Report) last announced its quarterly 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 return on equity of 22.53% and a net margin of 7.19%. The firm had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.22 billion. During the same period last year, the company posted $0.97 earnings per share. The business's quarterly revenue was up 15.2% on a year-over-year basis. On average, equities analysts expect that Spotify Technology will post 10.3 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the stock. Bank of America boosted their price objective on shares of Spotify Technology from $700.00 to $900.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Rosenblatt Securities reduced their price objective on shares of Spotify Technology from $658.00 to $657.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Canaccord Genuity Group boosted their price objective on shares of Spotify Technology from $775.00 to $850.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Phillip Securities upgraded shares of Spotify Technology to a "moderate sell" rating in a research note on Monday, May 5th. Finally, The Goldman Sachs Group boosted their price objective on shares of Spotify Technology from $680.00 to $775.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company's stock. According to MarketBeat.com, Spotify Technology has an average rating of "Moderate Buy" and an average target price of $671.27.
Read Our Latest Stock Analysis on Spotify Technology
Spotify Technology Company Profile
(
Free Report)
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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