GAMMA Investing LLC raised its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 75,856.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 717,789 shares of the company's stock after purchasing an additional 716,844 shares during the period. GAMMA Investing LLC owned 0.35% of Spotify Technology worth $394,805,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Mpwm Advisory Solutions LLC bought a new stake in shares of Spotify Technology in the 4th quarter valued at $26,000. Hillsdale Investment Management Inc. bought a new position in shares of Spotify Technology in the 4th quarter worth about $27,000. Copia Wealth Management bought a new position in shares of Spotify Technology in the 4th quarter worth about $29,000. Quent Capital LLC boosted its position in shares of Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock valued at $44,000 after purchasing an additional 57 shares in the last quarter. Finally, Noble Wealth Management PBC bought a new stake in shares of Spotify Technology during the 4th quarter valued at about $52,000. 84.09% of the stock is owned by institutional investors.
Spotify Technology Trading Up 0.9%
Spotify Technology stock traded up $5.99 during trading on Monday, hitting $671.13. 1,860,180 shares of the company were exchanged, compared to its average volume of 2,226,080. The business's 50 day moving average is $599.93 and its 200 day moving average is $551.47. Spotify Technology S.A. has a 52 week low of $288.07 and a 52 week high of $674.00. The company has a market capitalization of $137.38 billion, a P/E ratio of 112.79 and a beta of 1.72.
Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($1.16). Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter last year, the company posted $0.97 EPS. The company's quarterly revenue was up 15.2% compared to the same quarter last year. Equities analysts expect that Spotify Technology S.A. will post 10.3 EPS for the current year.
Analyst Ratings Changes
SPOT has been the topic of several recent analyst reports. KeyCorp dropped their price target on Spotify Technology from $675.00 to $625.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Citigroup lifted their price objective on shares of Spotify Technology from $540.00 to $720.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. FBN Securities started coverage on shares of Spotify Technology in a research note on Friday, March 28th. They set a "sector perform" rating and a $645.00 target price on the stock. Evercore ISI decreased their price target on shares of Spotify Technology from $700.00 to $650.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, Canaccord Genuity Group upped their price objective on shares of Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Eight analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $609.07.
View Our Latest Stock Report on Spotify Technology
Spotify Technology Profile
(
Free Report)
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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