Pinkerton Retirement Specialists LLC Takes Position in Spotify Technology S.A. (NYSE:SPOT)

Pinkerton Retirement Specialists LLC bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 574 shares of the company's stock, valued at approximately $257,000.

Several other institutional investors also recently bought and sold shares of SPOT. Mpwm Advisory Solutions LLC bought a new stake in Spotify Technology in the 4th quarter worth $26,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Spotify Technology during the fourth quarter worth about $27,000. Quent Capital LLC grew its stake in shares of Spotify Technology by 135.7% in the fourth quarter. Quent Capital LLC now owns 99 shares of the company's stock worth $44,000 after purchasing an additional 57 shares during the last quarter. Noble Wealth Management PBC bought a new stake in shares of Spotify Technology in the fourth quarter worth about $52,000. Finally, Colonial Trust Co SC increased its holdings in Spotify Technology by 1,009.1% during the 4th quarter. Colonial Trust Co SC now owns 122 shares of the company's stock valued at $55,000 after purchasing an additional 111 shares during the period. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SPOT shares. Wells Fargo & Company lifted their price objective on Spotify Technology from $690.00 to $740.00 and gave the stock an "overweight" rating in a research report on Friday, March 28th. Citigroup raised their price target on Spotify Technology from $540.00 to $720.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. The Goldman Sachs Group lifted their price target on shares of Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. boosted their price objective on shares of Spotify Technology from $640.00 to $670.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Finally, Rosenblatt Securities dropped their target price on shares of Spotify Technology from $658.00 to $657.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Eight equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, Spotify Technology presently has an average rating of "Moderate Buy" and a consensus price target of $609.07.

Spotify Technology Price Performance

SPOT opened at $636.87 on Friday. The firm has a market cap of $130.37 billion, a PE ratio of 107.04 and a beta of 1.72. The stock has a 50-day moving average price of $592.68 and a 200-day moving average price of $539.84. Spotify Technology S.A. has a 1 year low of $288.07 and a 1 year high of $669.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued 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 return on equity of 25.56% and a net margin of 7.26%. The firm had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.22 billion. During the same period last year, the firm posted $0.97 earnings per share. The firm's quarterly revenue was up 15.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Spotify Technology S.A. will post 10.3 EPS 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.

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