Flossbach Von Storch SE Buys Shares of 370 Spotify Technology (NYSE:SPOT)

Flossbach Von Storch SE purchased a new position in shares of Spotify Technology (NYSE:SPOT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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. GQG Partners LLC purchased a new stake in shares of Spotify Technology during the fourth quarter worth approximately $800,725,000. Geode Capital Management LLC boosted its position 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 purchasing an additional 1,259,183 shares in the last quarter. Norges Bank acquired a new position in shares of Spotify Technology during the 4th quarter worth $396,028,000. Janus Henderson Group PLC increased its holdings in shares of Spotify Technology by 325.9% in the 4th quarter. Janus Henderson Group PLC now owns 1,125,465 shares of the company's stock valued at $503,316,000 after purchasing an additional 861,232 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Spotify Technology by 103.7% during the fourth quarter. Northern Trust Corp now owns 1,426,902 shares of the company's stock worth $638,367,000 after buying an additional 726,245 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Bank of America lifted their price target on shares of Spotify Technology from $700.00 to $900.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. DZ Bank lowered Spotify Technology from a "strong-buy" rating to a "strong sell" rating in a report on Friday, June 13th. Loop Capital lifted their price target on Spotify Technology from $435.00 to $550.00 and gave the stock a "hold" rating in a research note on Friday, May 2nd. Canaccord Genuity Group lifted their price target on Spotify Technology from $775.00 to $850.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Finally, Pivotal Research lifted their price target on Spotify Technology from $800.00 to $900.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $671.27.

Spotify Technology Price Performance

SPOT stock traded down $0.14 on Wednesday, hitting $721.25. 1,361,699 shares of the company were exchanged, compared to its average volume of 2,222,645. The business's fifty day moving average is $684.18 and its two-hundred day moving average is $596.62. The stock has a market capitalization of $147.65 billion, a price-to-earnings ratio of 119.61, a price-to-earnings-growth ratio of 1.94 and a beta of 1.68. Spotify Technology has a twelve month low of $288.07 and a twelve 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 analysts' consensus estimates of $2.29 by ($1.16). The firm 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 business's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.97 earnings per share. Equities research analysts expect that Spotify Technology will post 10.3 earnings per share 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.