Vontobel Holding Ltd. raised its position in Spotify Technology (NYSE:SPOT - Free Report) by 79.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,107 shares of the company's stock after acquiring an additional 12,847 shares during the quarter. Vontobel Holding Ltd.'s holdings in Spotify Technology were worth $16,010,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPOT. Adero Partners LLC raised its stake in Spotify Technology by 0.7% during the 1st quarter. Adero Partners LLC now owns 2,635 shares of the company's stock worth $1,449,000 after acquiring an additional 19 shares in the last quarter. North Star Investment Management Corp. increased its position in shares of Spotify Technology by 52.8% during the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after purchasing an additional 19 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of Spotify Technology by 4.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock valued at $256,000 after purchasing an additional 25 shares during the last quarter. Covenant Partners LLC boosted its position in shares of Spotify Technology by 2.5% in the 4th quarter. Covenant Partners LLC now owns 1,024 shares of the company's stock valued at $458,000 after purchasing an additional 25 shares during the period. Finally, Trifecta Capital Advisors LLC grew its stake in Spotify Technology by 33.3% during the 1st quarter. Trifecta Capital Advisors LLC now owns 100 shares of the company's stock worth $55,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.
Spotify Technology Stock Performance
Spotify Technology stock traded down $15.69 during midday trading on Wednesday, reaching $706.66. 2,785,921 shares of the company were exchanged, compared to its average volume of 2,216,568. The firm's 50-day simple moving average is $671.78 and its 200-day simple moving average is $587.67. Spotify Technology has a 1 year low of $288.07 and a 1 year high of $785.00. The company has a market capitalization of $144.66 billion, a price-to-earnings ratio of 117.19, a P/E/G ratio of 2.02 and a beta of 1.68.
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 the consensus estimate of $2.29 by ($1.16). The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. Spotify Technology had a return on equity of 22.53% and a net margin of 7.19%. Spotify Technology's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.97 earnings per share. On average, analysts forecast that Spotify Technology will post 10.3 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on SPOT. Cantor Fitzgerald boosted their price objective on Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. Sanford C. Bernstein upgraded shares of Spotify Technology to a "strong-buy" rating in a research note on Tuesday, June 3rd. Pivotal Research lifted their price objective on shares of Spotify Technology from $800.00 to $900.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Bank of America lifted their price objective on shares of Spotify Technology from $700.00 to $900.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Finally, UBS Group boosted their price target on shares of Spotify Technology from $680.00 to $895.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. One research 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 stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $660.28.
Read Our Latest Research Report on Spotify Technology
Spotify Technology Company Profile
(
Free Report)
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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