Monument Capital Management Makes New $205,000 Investment in Spotify Technology (NYSE:SPOT)

Monument Capital Management bought a new position in Spotify Technology (NYSE:SPOT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 372 shares of the company's stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Tsfg LLC bought a new stake in shares of Spotify Technology in the first quarter valued at about $28,000. North Star Investment Management Corp. increased its position 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 during the period. Mpwm Advisory Solutions LLC bought a new stake in shares of Spotify Technology in the 4th quarter valued at about $26,000. Hillsdale Investment Management Inc. bought a new stake in shares of Spotify Technology in the 4th quarter valued at about $27,000. Finally, Copia Wealth Management purchased a new stake in shares of Spotify Technology in the 4th quarter worth approximately $29,000. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Up 2.0%

Shares of SPOT stock traded up $14.48 on Thursday, hitting $723.98. The company had a trading volume of 1,077,214 shares, compared to its average volume of 2,217,229. Spotify Technology has a twelve month low of $288.07 and a twelve month high of $785.00. The firm has a market cap of $148.21 billion, a P/E ratio of 120.06, a price-to-earnings-growth ratio of 1.90 and a beta of 1.68. The company has a 50-day moving average price of $674.07 and a 200-day moving average price of $588.49.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share (EPS) 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 firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the prior year, the firm earned $0.97 earnings per share. The business's revenue for the quarter was up 15.2% on a year-over-year basis. Equities research analysts expect that Spotify Technology will post 10.3 EPS for the current year.

Wall Street Analysts Forecast Growth

SPOT has been the subject of a number of recent research reports. Redburn Atlantic assumed coverage on shares of Spotify Technology in a research note on Tuesday, March 11th. They issued a "neutral" rating and a $545.00 price objective for the company. Loop Capital boosted their price target on Spotify Technology from $435.00 to $550.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Rosenblatt Securities dropped their price objective on Spotify Technology from $658.00 to $657.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Macquarie lifted their target price on Spotify Technology from $600.00 to $665.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Finally, Evercore ISI boosted their target price on shares of Spotify Technology from $650.00 to $750.00 and gave the stock an "outperform" rating in a report on Monday, June 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $660.28.

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.