PDS Planning Inc Buys 408 Shares of Spotify Technology (NYSE:SPOT)

PDS Planning Inc raised its stake in Spotify Technology (NYSE:SPOT - Free Report) by 62.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,059 shares of the company's stock after acquiring an additional 408 shares during the quarter. PDS Planning Inc's holdings in Spotify Technology were worth $582,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SPOT. Mpwm Advisory Solutions LLC bought a new position in shares of Spotify Technology in the fourth quarter worth about $26,000. Hillsdale Investment Management Inc. bought a new position in Spotify Technology in the 4th quarter valued at approximately $27,000. Copia Wealth Management bought a new position in Spotify Technology in the 4th quarter valued at approximately $29,000. North Star Investment Management Corp. raised its holdings in Spotify Technology by 52.8% in the 1st 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 last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in 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 buying an additional 46 shares during the last quarter. Institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Up 5.4%

Shares of SPOT stock opened at $775.84 on Friday. The company has a market cap of $158.82 billion, a price-to-earnings ratio of 128.66, a price-to-earnings-growth ratio of 1.93 and a beta of 1.68. Spotify Technology has a 52 week low of $288.07 and a 52 week high of $779.75. The firm has a 50 day moving average of $661.04 and a 200-day moving average of $581.19.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 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 for the quarter, compared to analyst estimates of $4.22 billion. During the same period last year, the business earned $0.97 EPS. The business's quarterly revenue was up 15.2% compared to the same quarter last year. Analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current year.

Wall Street Analyst Weigh In

SPOT has been the subject of a number of research reports. UBS Group reiterated an "overweight" rating on shares of Spotify Technology in a report on Friday, June 6th. Robert W. Baird raised their price objective on shares of Spotify Technology from $700.00 to $730.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. China Renaissance initiated coverage on shares of Spotify Technology in a report on Wednesday, March 26th. They issued a "buy" rating and a $740.00 price objective for the company. Loop Capital raised their price objective on shares of Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a report on Friday, May 2nd. Finally, Wells Fargo & Company raised their price objective on shares of Spotify Technology from $690.00 to $740.00 and gave the company an "overweight" rating in a report on Friday, March 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $647.52.

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.

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