Everpar Advisors LLC Takes $201,000 Position in Spotify Technology S.A. (NYSE:SPOT)

Everpar Advisors LLC purchased a new position in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 365 shares of the company's stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also made changes to their positions in SPOT. Kestra Private Wealth Services LLC raised its stake in Spotify Technology by 30.7% during the 4th quarter. Kestra Private Wealth Services LLC now owns 1,412 shares of the company's stock valued at $632,000 after purchasing an additional 332 shares during the period. Savant Capital LLC grew its stake in Spotify Technology by 9.8% in the fourth quarter. Savant Capital LLC now owns 1,052 shares of the company's stock valued at $470,000 after purchasing an additional 94 shares in the last quarter. Focus Financial Network Inc. purchased a new stake in shares of Spotify Technology during the 4th quarter worth about $232,000. Hartford Investment Management Co. acquired a new stake in shares of Spotify Technology during the 4th quarter valued at about $641,000. Finally, V Square Quantitative Management LLC lifted its holdings in shares of Spotify Technology by 46.8% during the 4th quarter. V Square Quantitative Management LLC now owns 160 shares of the company's stock valued at $71,000 after buying an additional 51 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on SPOT shares. Loop Capital boosted their target price on shares of Spotify Technology from $435.00 to $550.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Macquarie increased their target price on shares of Spotify Technology from $600.00 to $665.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Redburn Atlantic began coverage on Spotify Technology in a report on Tuesday, March 11th. They set a "neutral" rating and a $545.00 target price on the stock. Wells Fargo & Company upped their price target on Spotify Technology from $690.00 to $740.00 and gave the stock an "overweight" rating in a research note on Friday, March 28th. Finally, Phillip Securities raised Spotify Technology to a "moderate sell" rating in a research note on Monday, May 5th. Eight investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $611.14.

Spotify Technology Stock Performance

Shares of NYSE:SPOT traded up $10.10 on Monday, hitting $720.95. The stock had a trading volume of 402,285 shares, compared to its average volume of 2,202,184. The company has a market capitalization of $147.58 billion, a price-to-earnings ratio of 121.00 and a beta of 1.68. The firm's 50 day moving average price is $629.98 and its 200-day moving average price is $567.40. Spotify Technology S.A. has a twelve month low of $288.07 and a twelve month high of $722.51.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted 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). The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The business's quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.97 EPS. As a group, sell-side analysts predict that Spotify Technology S.A. will post 10.3 EPS for the current year.

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.