Natixis Advisors LLC Acquires 5,990 Shares of Spotify Technology (NYSE:SPOT)

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Natixis Advisors LLC lifted its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 5.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 114,801 shares of the company's stock after acquiring an additional 5,990 shares during the period. Natixis Advisors LLC owned approximately 0.06% of Spotify Technology worth $63,144,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SPOT. Mpwm Advisory Solutions LLC purchased a new position in shares of Spotify Technology in the fourth quarter valued at about $26,000. Tsfg LLC purchased a new position in shares of Spotify Technology in the first quarter valued at about $28,000. Copia Wealth Management purchased a new position in shares of Spotify Technology in the fourth quarter valued at about $29,000. Cornerstone Planning Group LLC increased its position in shares of Spotify Technology by 512.5% in the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock valued at $29,000 after acquiring an additional 41 shares during the period. Finally, North Star Investment Management Corp. increased its position in shares of Spotify Technology by 52.8% in the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after acquiring an additional 19 shares during the period. 84.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SPOT shares. Evercore ISI boosted their price objective on shares of Spotify Technology from $650.00 to $750.00 and gave the stock an "outperform" rating in a research note on Monday, June 16th. Benchmark dropped their price objective on shares of Spotify Technology from $840.00 to $800.00 and set a "buy" rating on the stock in a research note on Wednesday. KeyCorp dropped their price objective on shares of Spotify Technology from $860.00 to $830.00 and set an "overweight" rating on the stock in a research note on Wednesday. UBS Group dropped their target price on shares of Spotify Technology from $895.00 to $850.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Loop Capital upped their target price on shares of Spotify Technology from $435.00 to $550.00 and gave the stock a "hold" rating in a research note on Friday, May 2nd. Nine research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $718.90.

Spotify Technology Price Performance

Shares of Spotify Technology stock traded up $0.61 during trading on Friday, hitting $627.15. The stock had a trading volume of 2,529,175 shares, compared to its average volume of 2,387,677. The firm's fifty day simple moving average is $700.71 and its 200-day simple moving average is $623.58. The stock has a market cap of $128.38 billion, a PE ratio of 152.22, a PEG ratio of 2.56 and a beta of 1.70. Spotify Technology has a 12 month low of $300.57 and a 12 month high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced 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 4.76% and a return on equity of 13.67%. The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter in the previous year, the business earned $0.97 EPS. The company's quarterly revenue was up 15.2% compared to the same quarter last year. Analysts expect 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.