Flossbach Von Storch SE Makes New $204,000 Investment in Spotify Technology (NYSE:SPOT)

Flossbach Von Storch SE purchased a new position in shares of Spotify Technology (NYSE:SPOT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 370 shares of the company's stock, valued at approximately $204,000.

Several other large investors have also modified their holdings of SPOT. FMR LLC boosted its holdings in Spotify Technology by 30.2% in the 4th quarter. FMR LLC now owns 2,041,387 shares of the company's stock valued at $913,276,000 after purchasing an additional 473,569 shares during the period. Schroder Investment Management Group lifted its holdings in shares of Spotify Technology by 0.4% during the 4th quarter. Schroder Investment Management Group now owns 1,912,937 shares of the company's stock worth $855,810,000 after acquiring an additional 7,075 shares during the period. GQG Partners LLC bought a new position in shares of Spotify Technology during the 4th quarter worth about $800,725,000. Geode Capital Management LLC lifted its holdings in shares of Spotify Technology by 561.6% during the 4th quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock worth $659,841,000 after acquiring an additional 1,259,183 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Spotify Technology by 103.7% during the 4th quarter. Northern Trust Corp now owns 1,426,902 shares of the company's stock worth $638,367,000 after acquiring an additional 726,245 shares during the period. 84.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Rosenblatt Securities cut their price target on shares of Spotify Technology from $658.00 to $657.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Benchmark lifted their price target on shares of Spotify Technology from $700.00 to $840.00 and gave the company a "buy" rating in a report on Thursday. Cantor Fitzgerald lifted their price target on shares of Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Canaccord Genuity Group lifted their price target on shares of Spotify Technology from $775.00 to $850.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, China Renaissance assumed coverage on shares of Spotify Technology in a report on Wednesday, March 26th. They set a "buy" rating and a $740.00 price target for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Spotify Technology presently has an average rating of "Moderate Buy" and a consensus price target of $690.77.

Spotify Technology Stock Down 0.2%

NYSE:SPOT traded down $1.13 on Friday, hitting $708.82. The stock had a trading volume of 1,267,406 shares, compared to its average volume of 2,218,412. The stock has a market cap of $145.10 billion, a price-to-earnings ratio of 117.55, a price-to-earnings-growth ratio of 1.90 and a beta of 1.68. The business's 50-day simple moving average is $688.46 and its two-hundred day simple moving average is $599.23. Spotify Technology has a 52-week low of $288.07 and a 52-week high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.13 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 business had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.22 billion. During the same period in the prior year, the firm posted $0.97 earnings per share. The firm's revenue for the quarter was up 15.2% on a year-over-year basis. As a group, equities research analysts anticipate that Spotify Technology will post 10.3 EPS for the current 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.