Cable Hill Partners LLC Buys 413 Shares of Spotify Technology (NYSE:SPOT)

Cable Hill Partners LLC boosted its holdings in Spotify Technology (NYSE:SPOT - Free Report) by 54.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,177 shares of the company's stock after buying an additional 413 shares during the period. Cable Hill Partners LLC's holdings in Spotify Technology were worth $647,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mpwm Advisory Solutions LLC acquired a new position in Spotify Technology in the 4th quarter valued at approximately $26,000. Hillsdale Investment Management Inc. acquired a new position in shares of Spotify Technology in the fourth quarter valued at $27,000. Tsfg LLC acquired a new position in shares of Spotify Technology in the first quarter valued at $28,000. Copia Wealth Management bought a new position in Spotify Technology in the fourth quarter worth $29,000. Finally, Cornerstone Planning Group LLC boosted its stake in Spotify Technology by 512.5% during the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock worth $29,000 after buying an additional 41 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SPOT has been the subject of several recent research reports. KeyCorp increased their price target on shares of Spotify Technology from $640.00 to $860.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Robert W. Baird raised their target price on Spotify Technology from $700.00 to $730.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Cantor Fitzgerald upped their price target on Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a research report on Wednesday, June 18th. Bank of America increased their price objective on Spotify Technology from $700.00 to $900.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Finally, Sanford C. Bernstein boosted their target price on shares of Spotify Technology from $825.00 to $840.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $701.31.

Spotify Technology Stock Performance

NYSE:SPOT traded up $15.95 on Thursday, hitting $721.50. 1,157,744 shares of the stock were exchanged, compared to its average volume of 2,216,857. Spotify Technology has a 52 week low of $288.07 and a 52 week high of $785.00. The stock has a market capitalization of $147.70 billion, a price-to-earnings ratio of 119.73, a P/E/G ratio of 1.89 and a beta of 1.68. The company's 50-day moving average price is $693.86 and its 200 day moving average price is $606.15.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted 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). Spotify Technology had a return on equity of 22.53% and a net margin of 7.19%. The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same period last year, the firm earned $0.97 earnings per share. The company's quarterly revenue was up 15.2% on a year-over-year basis. As a group, equities research analysts predict that Spotify Technology will post 10.3 earnings per share for the current year.

About Spotify Technology

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.