GAM Holding AG Acquires 1,183 Shares of Spotify Technology (NYSE:SPOT)

GAM Holding AG increased its position in shares of Spotify Technology (NYSE:SPOT - Free Report) by 30.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,033 shares of the company's stock after purchasing an additional 1,183 shares during the period. GAM Holding AG's holdings in Spotify Technology were worth $2,768,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. North Star Investment Management Corp. increased its position in shares of Spotify Technology by 52.8% during 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 during the period. Mpwm Advisory Solutions LLC bought a new position in Spotify Technology during the fourth quarter valued at about $26,000. Hillsdale Investment Management Inc. acquired a new position in Spotify Technology during the fourth quarter worth about $27,000. Copia Wealth Management bought a new stake in Spotify Technology in the fourth quarter worth about $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in Spotify Technology by 209.1% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 68 shares of the company's stock worth $37,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 84.09% of the company's stock.

Spotify Technology Trading Down 0.4%

NYSE SPOT traded down $2.55 on Friday, reaching $707.64. The stock had a trading volume of 1,528,129 shares, compared to its average volume of 2,209,787. Spotify Technology has a 1 year low of $288.07 and a 1 year high of $728.80. The business has a 50 day moving average price of $646.29 and a 200 day moving average price of $574.67. The company has a market capitalization of $144.86 billion, a price-to-earnings ratio of 117.35, a P/E/G ratio of 1.85 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 EPS for the quarter, missing the consensus estimate of $2.29 by ($1.16). Spotify Technology had a net margin of 7.19% and a return on equity of 22.53%. The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the previous year, the firm posted $0.97 EPS. The company's quarterly revenue was up 15.2% compared to the same quarter last year. On average, analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on SPOT shares. Redburn Atlantic started coverage on shares of Spotify Technology in a research note on Tuesday, March 11th. They set a "neutral" rating and a $545.00 target price for the company. Guggenheim reaffirmed a "buy" rating on shares of Spotify Technology in a report on Friday, June 6th. JPMorgan Chase & Co. raised their price objective on Spotify Technology from $670.00 to $730.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Wolfe Research raised Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 target price on the stock in a research report on Monday, April 21st. Finally, Canaccord Genuity Group reiterated a "buy" rating on shares of Spotify Technology in a research report on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $630.28.

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.