Diversify Wealth Management LLC Purchases New Holdings in Spotify Technology (NYSE:SPOT)

Diversify Wealth Management LLC purchased a new stake in shares of Spotify Technology (NYSE:SPOT - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 386 shares of the company's stock, valued at approximately $223,000.

A number of other large investors have also bought and sold shares of the company. HM Payson & Co. increased its position in Spotify Technology by 39.1% in the first quarter. HM Payson & Co. now owns 64 shares of the company's stock worth $35,000 after buying an additional 18 shares during the last quarter. Adero Partners LLC boosted its holdings in shares of Spotify Technology by 0.7% in the first quarter. Adero Partners LLC now owns 2,635 shares of the company's stock worth $1,449,000 after acquiring an additional 19 shares during the period. North Star Investment Management Corp. boosted its holdings 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 worth $30,000 after acquiring an additional 19 shares during the period. Covenant Partners LLC boosted its holdings in shares of Spotify Technology by 2.5% in the fourth quarter. Covenant Partners LLC now owns 1,024 shares of the company's stock worth $458,000 after acquiring an additional 25 shares during the period. Finally, Trifecta Capital Advisors LLC boosted its holdings in shares of Spotify Technology by 33.3% in the first quarter. Trifecta Capital Advisors LLC now owns 100 shares of the company's stock worth $55,000 after acquiring an additional 25 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SPOT has been the subject of a number of analyst reports. Morgan Stanley raised their price target on Spotify Technology from $700.00 to $850.00 and gave the stock an "overweight" rating in a report on Thursday. Loop Capital raised their price target on Spotify Technology from $435.00 to $550.00 and gave the stock a "hold" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. raised their price target on Spotify Technology from $730.00 to $780.00 and gave the stock an "overweight" rating in a report on Friday. Benchmark raised their price target on Spotify Technology from $700.00 to $840.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Rosenblatt Securities dropped their price objective on Spotify Technology from $658.00 to $657.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, Spotify Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $701.31.

Spotify Technology Trading Down 0.2%

SPOT opened at $708.82 on Monday. The company has a market cap of $145.10 billion, a P/E ratio of 117.55, a P/E/G ratio of 1.88 and a beta of 1.68. The business's 50-day moving average price is $689.79 and its 200-day moving average price is $602.91. 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 quarterly earnings data 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 during the quarter, compared to analysts' expectations of $4.22 billion. Spotify Technology had a return on equity of 22.53% and a net margin of 7.19%. The firm's quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.97 EPS. Equities research analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

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.

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