Rational Advisors Inc. Invests $3.26 Million in Spotify Technology (NYSE:SPOT)

Rational Advisors Inc. purchased a new position in shares of Spotify Technology (NYSE:SPOT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 5,925 shares of the company's stock, valued at approximately $3,259,000.

Other large investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its position in shares of Spotify Technology by 566.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,980 shares of the company's stock worth $3,541,000 after purchasing an additional 6,782 shares during the period. O Shaughnessy Asset Management LLC raised its position in shares of Spotify Technology by 18.5% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 22,598 shares of the company's stock worth $10,110,000 after acquiring an additional 3,536 shares during the last quarter. QRG Capital Management Inc. lifted its position in shares of Spotify Technology by 36.3% in the 1st quarter. QRG Capital Management Inc. now owns 710 shares of the company's stock worth $391,000 after purchasing an additional 189 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in Spotify Technology by 16.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,543 shares of the company's stock valued at $4,699,000 after acquiring an additional 1,179 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Spotify Technology by 38.1% during the first quarter. GAMMA Investing LLC now owns 1,305 shares of the company's stock worth $718,000 after purchasing an additional 360 shares during the period. Institutional investors own 84.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Macquarie upped their target price on Spotify Technology from $600.00 to $665.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Wells Fargo & Company boosted their price target on shares of Spotify Technology from $690.00 to $740.00 and gave the stock an "overweight" rating in a report on Friday, March 28th. KeyCorp boosted their target price on Spotify Technology from $640.00 to $860.00 and gave the company an "overweight" rating in a research note on Friday. Cantor Fitzgerald raised their price objective on shares of Spotify Technology from $610.00 to $640.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. Finally, Canaccord Genuity Group raised their price objective on shares of Spotify Technology from $775.00 to $850.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $701.31.

Spotify Technology Stock Down 0.2%

NYSE:SPOT opened at $708.82 on Friday. The firm has a market capitalization of $145.10 billion, a P/E ratio of 117.55, a P/E/G ratio of 1.87 and a beta of 1.68. Spotify Technology has a 52 week low of $288.07 and a 52 week high of $785.00. The company has a fifty day moving average of $689.79 and a 200 day moving average of $600.93.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $4.22 billion. During the same period in the previous year, the company earned $0.97 earnings per share. Spotify Technology's quarterly revenue was up 15.2% on a year-over-year basis. As a group, analysts anticipate that Spotify Technology will post 10.3 EPS for the current year.

About Spotify Technology

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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