KBC Group NV boosted its position in shares of Spotify Technology (NYSE:SPOT - Free Report) by 73.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,470 shares of the company's stock after buying an additional 53,310 shares during the period. KBC Group NV owned 0.06% of Spotify Technology worth $69,012,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the company. Adero Partners LLC lifted its position in shares of Spotify Technology by 0.7% in the first quarter. Adero Partners LLC now owns 2,635 shares of the company's stock valued at $1,449,000 after acquiring an additional 19 shares in the last quarter. North Star Investment Management Corp. grew its stake in Spotify Technology by 52.8% during the 1st quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after purchasing an additional 19 shares in the last quarter. Auxano Advisors LLC lifted its holdings in Spotify Technology by 2.5% during the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company's stock worth $370,000 after buying an additional 20 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in Spotify Technology by 4.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock worth $256,000 after buying an additional 25 shares during the last quarter. Finally, Covenant Partners LLC raised its position in shares of Spotify Technology by 2.5% during the 4th quarter. Covenant Partners LLC now owns 1,024 shares of the company's stock worth $458,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 84.09% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently commented on SPOT. Pivotal Research raised their target price on Spotify Technology from $800.00 to $900.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. UBS Group lifted their price target on Spotify Technology from $680.00 to $895.00 and gave the company a "buy" rating in a report on Friday. Robert W. Baird boosted their price target on Spotify Technology from $700.00 to $730.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. KeyCorp reduced their price target on Spotify Technology from $675.00 to $625.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Finally, Loop Capital boosted their price target on Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $654.93.
Get Our Latest Report on SPOT
Spotify Technology Stock Down 5.7%
Shares of Spotify Technology stock traded down $44.12 on Tuesday, hitting $723.22. 2,723,880 shares of the company were exchanged, compared to its average volume of 2,214,289. The stock has a market capitalization of $148.05 billion, a price-to-earnings ratio of 119.94, a price-to-earnings-growth ratio of 2.02 and a beta of 1.68. The company has a 50-day moving average price of $669.15 and a 200 day moving average price of $586.72. Spotify Technology has a 1-year low of $288.07 and a 1-year high of $785.00.
Spotify Technology (NYSE:SPOT - Get Free Report) last issued 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). Spotify Technology had a return on equity of 22.53% and a net margin of 7.19%. The firm 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 firm posted $0.97 EPS. The business's revenue for the quarter was up 15.2% on a year-over-year basis. Research analysts forecast that Spotify Technology will post 10.3 EPS for the current year.
Spotify Technology Company 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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