Sava Infond d.o.o. Invests $242,000 in Spotify Technology (NYSE:SPOT)

Sava Infond d.o.o. bought a new position in Spotify Technology (NYSE:SPOT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 440 shares of the company's stock, valued at approximately $242,000.

Other large investors have also made changes to their positions in the company. Atria Wealth Solutions Inc. grew its holdings in Spotify Technology by 14.8% during the 4th quarter. Atria Wealth Solutions Inc. now owns 3,253 shares of the company's stock worth $1,456,000 after acquiring an additional 420 shares during the last quarter. Callan Capital LLC bought a new stake in Spotify Technology during the 4th quarter worth about $245,000. First Horizon Advisors Inc. grew its holdings in Spotify Technology by 5.4% during the 4th quarter. First Horizon Advisors Inc. now owns 504 shares of the company's stock worth $225,000 after acquiring an additional 26 shares during the last quarter. Wealthspire Advisors LLC bought a new stake in Spotify Technology during the 4th quarter worth about $387,000. Finally, C WorldWide Group Holding A S bought a new stake in Spotify Technology during the 4th quarter worth about $2,595,000. Institutional investors own 84.09% of the company's stock.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $732.15 on Tuesday. The company has a market capitalization of $149.88 billion, a price-to-earnings ratio of 121.42, a P/E/G ratio of 1.85 and a beta of 1.68. The firm's 50 day simple moving average is $649.99 and its 200 day simple moving average is $576.87. Spotify Technology has a fifty-two week low of $288.07 and a fifty-two week high of $736.35.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly 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). The firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. Spotify Technology had a net margin of 7.19% and a return on equity of 22.53%. The business's revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.97 earnings per share. Equities research analysts expect that Spotify Technology will post 10.3 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on SPOT. Pivotal Research increased their price objective on shares of Spotify Technology from $800.00 to $900.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Phillip Securities raised shares of Spotify Technology to a "moderate sell" rating in a report on Monday, May 5th. Macquarie increased their price objective on shares of Spotify Technology from $600.00 to $665.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Sanford C. Bernstein raised shares of Spotify Technology to a "strong-buy" rating in a report on Tuesday, June 3rd. Finally, KeyCorp decreased their price objective on shares of Spotify Technology from $675.00 to $625.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $630.28.

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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