Huntleigh Advisors Inc. Takes Position in Spotify Technology (NYSE:SPOT)

Huntleigh Advisors Inc. acquired a new position in shares of Spotify Technology (NYSE:SPOT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 425 shares of the company's stock, valued at approximately $234,000.

Several other large investors have also recently added to or reduced their stakes in SPOT. Tsfg LLC acquired a new position in Spotify Technology in the first quarter valued at approximately $28,000. North Star Investment Management Corp. raised its holdings in Spotify Technology by 52.8% in the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after purchasing an additional 19 shares during the period. Mpwm Advisory Solutions LLC bought a new stake in shares of Spotify Technology during the fourth quarter worth $26,000. Hillsdale Investment Management Inc. bought a new stake in shares of Spotify Technology during the fourth quarter worth $27,000. Finally, Copia Wealth Management bought a new stake in shares of Spotify Technology during the fourth quarter worth $29,000. 84.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Evercore ISI lifted their price objective on shares of Spotify Technology from $650.00 to $750.00 and gave the company an "outperform" rating in a research report on Monday, June 16th. KeyCorp cut their target price on shares of Spotify Technology from $675.00 to $625.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. JPMorgan Chase & Co. raised their target price on shares of Spotify Technology from $670.00 to $730.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Sanford C. Bernstein upgraded shares of Spotify Technology to a "strong-buy" rating in a research note on Tuesday, June 3rd. Finally, Bank of America raised their target price on shares of Spotify Technology from $700.00 to $900.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $660.28.

Spotify Technology Stock Up 0.7%

SPOT traded up $4.89 during trading on Monday, hitting $729.94. 965,562 shares of the company's stock were exchanged, compared to its average volume of 2,223,710. The business's 50 day moving average is $678.50 and its two-hundred day moving average is $593.82. Spotify Technology has a fifty-two week low of $288.07 and a fifty-two week high of $785.00. The stock has a market cap of $149.43 billion, a P/E ratio of 121.10, a PEG ratio of 1.91 and a beta of 1.68.

Spotify Technology (NYSE:SPOT - Get Free Report) last released 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). Spotify Technology had a return on equity of 22.53% and a net margin of 7.19%. The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the previous year, the company posted $0.97 EPS. The business's quarterly revenue was up 15.2% on a year-over-year basis. On average, sell-side analysts forecast 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.