Generali Investments CEE investicni spolecnost a.s. Sells 1,949 Shares of Spotify Technology (NYSE:SPOT)

Generali Investments CEE investicni spolecnost a.s. cut its stake in Spotify Technology (NYSE:SPOT - Free Report) by 22.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,551 shares of the company's stock after selling 1,949 shares during the period. Generali Investments CEE investicni spolecnost a.s.'s holdings in Spotify Technology were worth $3,603,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SPOT. Tsfg LLC bought a new position in shares of Spotify Technology during the 1st quarter valued at about $28,000. North Star Investment Management Corp. lifted its position in Spotify Technology by 52.8% in the 1st quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after buying an additional 19 shares during the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in Spotify Technology in the fourth quarter worth approximately $26,000. Hillsdale Investment Management Inc. bought a new position in Spotify Technology during the fourth quarter valued at approximately $27,000. Finally, Copia Wealth Management bought a new position in Spotify Technology during the fourth quarter valued at approximately $29,000. Institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Up 2.0%

NYSE SPOT opened at $723.98 on Friday. The stock's 50 day moving average is $678.50 and its 200 day moving average is $591.86. Spotify Technology has a twelve month low of $288.07 and a twelve month high of $785.00. The firm has a market capitalization of $148.20 billion, a PE ratio of 120.06, a P/E/G ratio of 1.91 and a beta of 1.68.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its 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). The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. Spotify Technology had a return on equity of 22.53% and a net margin of 7.19%. The company's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period last year, the firm posted $0.97 EPS. On average, research analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wolfe Research raised shares of Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 price objective for the company in a research note on Monday, April 21st. Bank of America upped 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. Barclays decreased their price objective on Spotify Technology from $710.00 to $650.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Cantor Fitzgerald boosted their target price on Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. Finally, Redburn Atlantic began coverage on Spotify Technology in a research report on Tuesday, March 11th. They set a "neutral" rating and a $545.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $660.28.

About Spotify Technology

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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