1,286 Shares in Spotify Technology S.A. (NYSE:SPOT) Purchased by Simon Quick Advisors LLC

Simon Quick Advisors LLC acquired a new stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,286 shares of the company's stock, valued at approximately $707,000.

Several other hedge funds also recently bought and sold shares of the company. Auxano Advisors LLC increased its position in shares of Spotify Technology by 2.5% in the fourth quarter. Auxano Advisors LLC now owns 828 shares of the company's stock worth $370,000 after purchasing an additional 20 shares during the last quarter. SRS Capital Advisors Inc. increased its position in shares of Spotify Technology by 4.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock worth $256,000 after purchasing an additional 25 shares during the last quarter. Covenant Partners LLC increased its position in shares of Spotify Technology by 2.5% in the fourth quarter. Covenant Partners LLC now owns 1,024 shares of the company's stock worth $458,000 after purchasing an additional 25 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Spotify Technology by 5.4% in the fourth quarter. First Horizon Advisors Inc. now owns 504 shares of the company's stock worth $225,000 after purchasing an additional 26 shares during the last quarter. Finally, Harbour Investments Inc. grew its position in Spotify Technology by 13.3% during the fourth quarter. Harbour Investments Inc. now owns 222 shares of the company's stock valued at $99,000 after acquiring an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Spotify Technology Trading Up 1.1%

Spotify Technology stock traded up $7.71 on Friday, hitting $710.53. 1,124,720 shares of the stock traded hands, compared to its average volume of 2,209,186. The firm has a market cap of $145.45 billion, a P/E ratio of 119.42 and a beta of 1.68. The business's fifty day simple moving average is $629.98 and its 200 day simple moving average is $566.76. Spotify Technology S.A. has a 1 year low of $288.07 and a 1 year high of $717.87.

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). The firm had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.22 billion. Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. The business's quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.97 EPS. As a group, analysts predict that Spotify Technology S.A. will post 10.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on SPOT shares. Evercore ISI reduced their price target on shares of Spotify Technology from $700.00 to $650.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Loop Capital increased their price target on shares of Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a research report on Friday, May 2nd. Guggenheim reiterated a "buy" rating on shares of Spotify Technology in a research report on Friday, June 6th. FBN Securities assumed coverage on shares of Spotify Technology in a research report on Friday, March 28th. They set a "sector perform" rating and a $645.00 price target on the stock. Finally, Barclays dropped their price objective on Spotify Technology from $710.00 to $650.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Eight equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $611.14.

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.