LifeWealth Investments LLC bought a new stake in shares of Spotify Technology (NYSE:SPOT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 472 shares of the company's stock, valued at approximately $260,000.
A number of other institutional investors also recently modified their holdings of SPOT. North Star Investment Management Corp. increased 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 buying an additional 19 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new stake in Spotify Technology in the fourth quarter worth approximately $26,000. Hillsdale Investment Management Inc. bought a new stake in Spotify Technology in the fourth quarter worth approximately $27,000. Copia Wealth Management acquired a new position in shares of Spotify Technology during the 4th quarter worth $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Spotify Technology by 209.1% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 68 shares of the company's stock worth $37,000 after purchasing an additional 46 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.
Spotify Technology Trading Down 1.5%
NYSE SPOT traded down $10.52 on Thursday, reaching $710.76. The company's stock had a trading volume of 1,601,194 shares, compared to its average volume of 2,206,338. Spotify Technology has a 52 week low of $288.07 and a 52 week high of $728.80. The firm has a market cap of $145.50 billion, a PE ratio of 117.87, a price-to-earnings-growth ratio of 1.89 and a beta of 1.68. The business has a 50-day moving average price of $639.86 and a 200 day moving average price of $571.10.
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 net margin of 7.19% and a return on equity of 22.53%. The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. The company's revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.97 earnings per share. Analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the stock. KeyCorp decreased their price objective on shares of Spotify Technology from $675.00 to $625.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Sanford C. Bernstein raised Spotify Technology to a "strong-buy" rating in a research report on Tuesday, June 3rd. Pivotal Research increased their price objective on Spotify Technology from $800.00 to $900.00 and gave the company a "buy" rating in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on Spotify Technology from $670.00 to $730.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Finally, Cantor Fitzgerald upped their target price on Spotify Technology from $610.00 to $640.00 and gave the stock a "neutral" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $630.28.
Read Our Latest Report on Spotify Technology
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.
Read More
Before you consider Spotify Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Spotify Technology wasn't on the list.
While Spotify Technology currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
