365 Shares in Spotify Technology (NYSE:SPOT) Purchased by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. has invested approximately $201,000 in Spotify Technology, acquiring a total of 365 shares.
• Several hedge funds, including Jennison Associates LLC and Northern Trust Corp, have increased their stakes in Spotify, contributing to 84.09% of the stock being owned by institutional investors.
• Analysts have mixed views on Spotify's stock, with a consensus rating of "Moderate Buy" and a target price estimate of $718.90 amidst recent earnings that missed expectations.

Jefferies Financial Group Inc. acquired a new stake in Spotify Technology (NYSE:SPOT - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 365 shares of the company's stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SPOT. Bank of Jackson Hole Trust acquired a new position in Spotify Technology during the first quarter worth about $100,000. Nicolet Advisory Services LLC acquired a new position in shares of Spotify Technology in the first quarter valued at approximately $278,000. Shufro Rose & Co. LLC acquired a new position in shares of Spotify Technology in the first quarter valued at approximately $245,000. EFG Asset Management Americas Corp. purchased a new stake in Spotify Technology in the first quarter valued at approximately $2,172,000. Finally, Sound View Wealth Advisors Group LLC purchased a new stake in Spotify Technology in the first quarter valued at approximately $212,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Rosenblatt Securities decreased their price objective on shares of Spotify Technology from $703.00 to $679.00 and set a "neutral" rating for the company in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Spotify Technology from $700.00 to $775.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. DZ Bank upgraded shares of Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price target for the company in a research report on Wednesday, July 30th. The Goldman Sachs Group increased their target price on shares of Spotify Technology from $680.00 to $775.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, Loop Capital upped their price target on shares of Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a report on Friday, May 2nd. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $718.90.

Spotify Technology Price Performance

Shares of NYSE:SPOT traded up $19.64 during midday trading on Friday, reaching $706.38. The company's stock had a trading volume of 2,361,417 shares, compared to its average volume of 2,795,071. Spotify Technology has a fifty-two week low of $319.07 and a fifty-two week high of $785.00. The company has a market capitalization of $144.60 billion, a P/E ratio of 171.45, a P/E/G ratio of 3.06 and a beta of 1.69. The business's fifty day simple moving average is $702.55 and its 200-day simple moving average is $631.84.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing analysts' consensus estimates of $2.00 by ($2.42). Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The business had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter last year, the business posted $1.33 earnings per share. The business's quarterly revenue was up 10.1% compared to the same quarter last year. On average, analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

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.