Spotify Technology (NYSE:SPOT) Shares Bought by Slow Capital Inc.

Slow Capital Inc. lifted its position in shares of Spotify Technology (NYSE:SPOT - Free Report) by 52.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,272 shares of the company's stock after purchasing an additional 8,344 shares during the period. Spotify Technology comprises about 1.8% of Slow Capital Inc.'s holdings, making the stock its 15th largest position. Slow Capital Inc.'s holdings in Spotify Technology were worth $13,350,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Proficio Capital Partners LLC purchased a new position in shares of Spotify Technology during the fourth quarter worth about $281,000. Wealthfront Advisers LLC grew its holdings in shares of Spotify Technology by 42.6% during the fourth quarter. Wealthfront Advisers LLC now owns 1,125 shares of the company's stock worth $503,000 after buying an additional 336 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Spotify Technology by 5.0% during the fourth quarter. HighTower Advisors LLC now owns 17,383 shares of the company's stock worth $7,777,000 after buying an additional 834 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Spotify Technology by 69.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 2,066 shares of the company's stock valued at $924,000 after purchasing an additional 845 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Spotify Technology by 14.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 751 shares of the company's stock valued at $336,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Stock Up 2.2%

Shares of Spotify Technology stock traded up $15.40 during trading on Thursday, hitting $720.95. 1,657,310 shares of the company were exchanged, compared to its average volume of 2,219,196. Spotify Technology has a fifty-two week low of $288.07 and a fifty-two week high of $785.00. The stock has a market capitalization of $147.59 billion, a price-to-earnings ratio of 119.56, a P/E/G ratio of 1.88 and a beta of 1.68. The firm has a 50 day moving average price of $695.14 and a 200 day moving average price of $608.01.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued 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 company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the prior year, the firm earned $0.97 earnings per share. The company's revenue for the quarter was up 15.2% on a year-over-year basis. Analysts predict that Spotify Technology will post 10.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on Spotify Technology from $730.00 to $780.00 and gave the company an "overweight" rating in a report on Friday, July 11th. FBN Securities initiated coverage on Spotify Technology in a report on Friday, March 28th. They issued a "sector perform" rating and a $645.00 price objective on the stock. UBS Group lifted their price objective on Spotify Technology from $680.00 to $895.00 and gave the company a "buy" rating in a report on Friday, June 27th. Robert W. Baird lifted their price objective on Spotify Technology from $700.00 to $730.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, Loop Capital lifted their price objective on Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, Spotify Technology has an average rating of "Moderate Buy" and an average target price of $701.31.

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.