Nicholas Wealth LLC. Buys Shares of 1,892 Spotify Technology (NYSE:SPOT)

Nicholas Wealth LLC. bought a new position in shares of Spotify Technology (NYSE:SPOT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,892 shares of the company's stock, valued at approximately $1,041,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC raised its position in shares of Spotify Technology by 512.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock worth $29,000 after acquiring an additional 41 shares in the last quarter. Tsfg LLC acquired a new stake in shares of Spotify Technology in the 1st quarter worth $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 worth $30,000 after purchasing an additional 19 shares during the period. Mpwm Advisory Solutions LLC purchased a new position in shares of Spotify Technology in the 4th quarter valued at about $26,000. Finally, Copia Wealth Management purchased a new stake in shares of Spotify Technology during the 4th quarter worth approximately $29,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SPOT. FBN Securities began coverage on Spotify Technology in a report on Friday, March 28th. They issued a "sector perform" rating and a $645.00 price target for the company. DZ Bank lowered Spotify Technology from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, June 13th. Benchmark boosted their price target on Spotify Technology from $700.00 to $840.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. The Goldman Sachs Group upped their price target on Spotify Technology from $680.00 to $775.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, Sanford C. Bernstein raised their price target on Spotify Technology from $825.00 to $840.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $727.52.

Spotify Technology Stock Up 1.7%

NYSE SPOT traded up $11.43 during trading on Friday, hitting $692.85. The company's stock had a trading volume of 1,756,975 shares, compared to its average volume of 1,713,343. Spotify Technology has a 52 week low of $300.57 and a 52 week high of $785.00. The firm has a market cap of $141.83 billion, a P/E ratio of 114.90, a price-to-earnings-growth ratio of 1.81 and a beta of 1.68. The firm has a 50 day moving average price of $701.36 and a 200 day moving average price of $617.47.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly 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 return on equity of 22.53% and a net margin of 7.19%. The company 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 business earned $0.97 earnings per share. The business's revenue for the quarter was up 15.2% on a year-over-year basis. On average, equities analysts expect that Spotify Technology will post 10.3 earnings per share for the current year.

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.