Spotify Technology (NYSE:SPOT) Shares Acquired by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC boosted its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 36.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,437 shares of the company's stock after purchasing an additional 384 shares during the period. Insigneo Advisory Services LLC's holdings in Spotify Technology were worth $790,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPOT. V Square Quantitative Management LLC boosted its position in shares of Spotify Technology by 46.8% during the fourth quarter. V Square Quantitative Management LLC now owns 160 shares of the company's stock valued at $71,000 after purchasing an additional 51 shares in the last quarter. Nations Financial Group Inc. IA ADV bought a new position in shares of Spotify Technology during the fourth quarter valued at approximately $438,000. Principal Securities Inc. lifted its holdings in shares of Spotify Technology by 45.9% during the fourth quarter. Principal Securities Inc. now owns 1,227 shares of the company's stock valued at $549,000 after purchasing an additional 386 shares during the last quarter. Allworth Financial LP boosted its position in shares of Spotify Technology by 134.0% in the 4th quarter. Allworth Financial LP now owns 372 shares of the company's stock worth $184,000 after purchasing an additional 213 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Spotify Technology in the 4th quarter worth approximately $56,000. Institutional investors own 84.09% of the company's stock.

Spotify Technology Price Performance

Shares of SPOT stock traded down $10.52 during mid-day trading on Thursday, hitting $710.76. 1,601,194 shares of the stock traded hands, compared to its average volume of 2,206,338. Spotify Technology has a 52-week low of $288.07 and a 52-week high of $728.80. The stock has a market cap of $145.50 billion, a P/E ratio of 117.87, a P/E/G ratio of 1.86 and a beta of 1.68. The stock's fifty day moving average is $639.86 and its two-hundred day moving average is $571.10.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted 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). The company had revenue of $4.41 billion for 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.97 EPS. As a group, equities analysts forecast that Spotify Technology will post 10.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SPOT has been the subject of a number of recent research reports. Macquarie lifted their price objective on Spotify Technology from $600.00 to $665.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Guggenheim restated a "buy" rating on shares of Spotify Technology in a report on Friday, June 6th. Loop Capital upped their price target on shares of Spotify Technology from $435.00 to $550.00 and gave the stock a "hold" rating in a research note on Friday, May 2nd. Barclays cut their price objective on shares of Spotify Technology from $710.00 to $650.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Finally, Cantor Fitzgerald lifted their target price on shares of Spotify Technology from $610.00 to $640.00 and gave the stock a "neutral" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $630.28.

Spotify Technology 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.