Northeast Investment Management Buys 2,141 Shares of Spotify Technology S.A. (NYSE:SPOT)

Northeast Investment Management lifted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 13.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,658 shares of the company's stock after buying an additional 2,141 shares during the period. Northeast Investment Management's holdings in Spotify Technology were worth $10,262,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. 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. Copia Wealth Management bought a new stake in shares of Spotify Technology in the 4th quarter valued at about $29,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Spotify Technology by 209.1% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 68 shares of the company's stock valued at $37,000 after purchasing an additional 46 shares during the period. Finally, Quent Capital LLC raised its holdings in shares of Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock valued at $44,000 after purchasing an additional 57 shares during the period. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Stock Down 1.0%

Shares of SPOT stock traded down $7.28 during trading hours on Thursday, hitting $701.86. 1,021,429 shares of the company's stock traded hands, compared to its average volume of 2,212,577. Spotify Technology S.A. has a 12 month low of $288.07 and a 12 month high of $717.87. The stock's 50 day simple moving average is $626.06 and its 200 day simple moving average is $564.52. The stock has a market cap of $143.68 billion, a PE ratio of 117.96 and a beta of 1.68.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its earnings results 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 return on equity of 25.56% and a net margin of 7.26%. The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the prior year, the business earned $0.97 EPS. Spotify Technology's quarterly revenue was up 15.2% on a year-over-year basis. As a group, equities research analysts expect that Spotify Technology S.A. will post 10.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SPOT has been the subject of several research reports. FBN Securities initiated coverage on shares of Spotify Technology in a research report on Friday, March 28th. They set a "sector perform" rating and a $645.00 price objective for the company. KeyCorp cut their price objective on shares of Spotify Technology from $675.00 to $625.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Wolfe Research upgraded shares of Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 price objective for the company in a research report on Monday, April 21st. Canaccord Genuity Group restated a "buy" rating on shares of Spotify Technology in a research report on Friday, June 6th. Finally, Redburn Atlantic initiated coverage on shares of Spotify Technology in a research report on Tuesday, March 11th. They set a "neutral" rating and a $545.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Spotify Technology has an average rating of "Moderate Buy" and an average price target of $611.14.

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.