Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management bought 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 institutional investor bought 6,055 shares of the company's stock, valued at approximately $3,330,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. HM Payson & Co. boosted its position in Spotify Technology by 39.1% in the first quarter. HM Payson & Co. now owns 64 shares of the company's stock worth $35,000 after purchasing an additional 18 shares during the last quarter. Adero Partners LLC raised its stake in shares of Spotify Technology by 0.7% during the 1st quarter. Adero Partners LLC now owns 2,635 shares of the company's stock worth $1,449,000 after purchasing an additional 19 shares during the period. North Star Investment Management Corp. grew its position in Spotify Technology by 52.8% during the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after buying an additional 19 shares during the period. Covenant Partners LLC grew its position in Spotify Technology by 2.5% during the fourth quarter. Covenant Partners LLC now owns 1,024 shares of the company's stock valued at $458,000 after buying an additional 25 shares during the period. Finally, Trifecta Capital Advisors LLC increased its holdings in Spotify Technology by 33.3% during the first quarter. Trifecta Capital Advisors LLC now owns 100 shares of the company's stock worth $55,000 after buying an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently issued reports on SPOT. Pivotal Research raised their price target on shares of Spotify Technology from $800.00 to $900.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Wells Fargo & Company upped their target price on shares of Spotify Technology from $690.00 to $740.00 and gave the stock an "overweight" rating in a report on Friday, March 28th. Wolfe Research raised Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 price target on the stock in a report on Monday, April 21st. Guggenheim raised their price objective on shares of Spotify Technology from $725.00 to $840.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Finally, FBN Securities initiated coverage on shares of Spotify Technology in a report on Friday, March 28th. They issued a "sector perform" rating and a $645.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $701.31.
View Our Latest Stock Analysis on Spotify Technology
Spotify Technology Price Performance
NYSE:SPOT traded down $26.01 during mid-day trading on Friday, hitting $694.90. 2,148,692 shares of the company's stock were exchanged, compared to its average volume of 2,220,527. The company has a market cap of $142.25 billion, a PE ratio of 115.24, a P/E/G ratio of 1.92 and a beta of 1.68. The business has a fifty day moving average price of $695.14 and a 200 day moving average price of $608.01. Spotify Technology has a one year low of $290.13 and a one year high of $785.00.
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 analysts' consensus estimates of $2.29 by ($1.16). Spotify Technology had a net margin of 7.19% and a return on equity of 22.53%. The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter in the prior year, the business posted $0.97 earnings per share. The firm's revenue for the quarter was up 15.2% compared to the same quarter last year. On average, equities analysts forecast that Spotify Technology will post 10.3 EPS for the current fiscal year.
About Spotify Technology
(
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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