Gilbert & Cook Inc. Buys Shares of 549 Spotify Technology (NYSE:SPOT)

Gilbert & Cook Inc. acquired a new stake in Spotify Technology (NYSE:SPOT - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 549 shares of the company's stock, valued at approximately $302,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Brookwood Investment Group LLC bought a new stake in Spotify Technology in the 1st quarter valued at approximately $397,000. Morling Financial Advisors LLC lifted its stake in Spotify Technology by 36.9% in the 1st quarter. Morling Financial Advisors LLC now owns 708 shares of the company's stock valued at $389,000 after acquiring an additional 191 shares in the last quarter. Journey Strategic Wealth LLC bought a new stake in Spotify Technology in the 1st quarter valued at approximately $214,000. Advisor OS LLC raised its stake in shares of Spotify Technology by 282.3% during the 1st quarter. Advisor OS LLC now owns 1,747 shares of the company's stock worth $961,000 after purchasing an additional 1,290 shares in the last quarter. Finally, Machina Capital S.A.S. raised its stake in shares of Spotify Technology by 95.7% during the 1st quarter. Machina Capital S.A.S. now owns 3,150 shares of the company's stock worth $1,733,000 after purchasing an additional 1,540 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Price Performance

Shares of SPOT stock traded up $11.43 on Friday, hitting $692.85. 1,756,975 shares of the company's stock were exchanged, compared to its average volume of 1,713,343. Spotify Technology has a 12 month low of $300.57 and a 12 month high of $785.00. The stock has a market cap of $141.83 billion, a P/E ratio of 114.90, a price-to-earnings-growth ratio of 1.81 and a beta of 1.68. The company has a 50 day moving average of $701.36 and a 200 day moving average of $617.47.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 earnings per share for the quarter, missing the consensus estimate of $2.29 by ($1.16). The business had revenue of $4.41 billion for 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%. Spotify Technology's quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.97 earnings per share. Sell-side analysts predict that Spotify Technology will post 10.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SPOT shares. Macquarie upped their price objective on Spotify Technology from $600.00 to $665.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Morgan Stanley upped their price objective on Spotify Technology from $700.00 to $850.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Loop Capital upped their price objective on Spotify Technology from $435.00 to $550.00 and gave the stock a "hold" rating in a research note on Friday, May 2nd. Sanford C. Bernstein upped their price objective on Spotify Technology from $825.00 to $840.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Finally, The Goldman Sachs Group upped their price objective on Spotify Technology from $680.00 to $775.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. One equities research 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, the stock presently has an average rating of "Moderate Buy" and an average price target of $727.52.

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.