Spotify Technology (NYSE:SPOT) Shares Acquired by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. boosted its holdings in Spotify Technology (NYSE:SPOT - Free Report) by 50.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 424,684 shares of the company's stock after buying an additional 143,156 shares during the period. Robeco Institutional Asset Management B.V. owned 0.21% of Spotify Technology worth $233,589,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPOT. North Star Investment Management Corp. increased its holdings in shares of 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 buying an additional 19 shares during the last quarter. Mpwm Advisory Solutions LLC acquired a new stake in Spotify Technology during the fourth quarter worth about $26,000. Hillsdale Investment Management Inc. acquired a new stake in Spotify Technology during the fourth quarter worth about $27,000. Copia Wealth Management purchased a new position in shares of Spotify Technology in the 4th quarter worth about $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake 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 in the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on SPOT. Macquarie increased their target price on shares of Spotify Technology from $600.00 to $665.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Loop Capital lifted their target price 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. Canaccord Genuity Group reiterated a "buy" rating on shares of Spotify Technology in a research note on Friday, June 6th. Cantor Fitzgerald boosted their price target on Spotify Technology from $610.00 to $640.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. Finally, Bank of America upped their price target on Spotify Technology from $700.00 to $900.00 and gave the stock a "buy" rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Spotify Technology has an average rating of "Moderate Buy" and an average target price of $647.52.

Spotify Technology Stock Up 5.4%

Shares of SPOT traded up $39.54 during mid-day trading on Thursday, hitting $775.84. The stock had a trading volume of 2,552,561 shares, compared to its average volume of 2,210,640. Spotify Technology has a fifty-two week low of $288.07 and a fifty-two week high of $778.45. The company has a market cap of $158.82 billion, a PE ratio of 128.66, a PEG ratio of 1.96 and a beta of 1.68. The company's fifty day simple moving average is $657.02 and its two-hundred day simple moving average is $579.16.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter last year, the business earned $0.97 earnings per share. The business's revenue for the quarter was up 15.2% compared to the same quarter last year. 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.