Universal Beteiligungs und Servicegesellschaft mbH Purchases 138,286 Shares of Spotify Technology (NYSE:SPOT)

Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Spotify Technology (NYSE:SPOT - Free Report) by 111.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 261,997 shares of the company's stock after buying an additional 138,286 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.13% of Spotify Technology worth $144,106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Thrivent Financial for Lutherans lifted its position in shares of Spotify Technology by 566.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,980 shares of the company's stock worth $3,541,000 after buying an additional 6,782 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Spotify Technology by 18.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 22,598 shares of the company's stock worth $10,110,000 after buying an additional 3,536 shares during the last quarter. QRG Capital Management Inc. lifted its position in shares of Spotify Technology by 36.3% in the first quarter. QRG Capital Management Inc. now owns 710 shares of the company's stock worth $391,000 after buying an additional 189 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Spotify Technology by 38.1% in the first quarter. GAMMA Investing LLC now owns 1,305 shares of the company's stock worth $718,000 after buying an additional 360 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Spotify Technology by 16.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,543 shares of the company's stock worth $4,699,000 after buying an additional 1,179 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Wall Street Analysts Forecast Growth

SPOT has been the subject of several research analyst reports. DZ Bank cut Spotify Technology from a "strong-buy" rating to a "strong sell" rating in a research report on Friday, June 13th. FBN Securities began coverage on Spotify Technology in a research note on Friday, March 28th. They set a "sector perform" rating and a $645.00 price target on the stock. Morgan Stanley upped their price objective on Spotify Technology from $700.00 to $850.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. China Renaissance began coverage on Spotify Technology in a research note on Wednesday, March 26th. They issued a "buy" rating and a $740.00 price objective on the stock. Finally, UBS Group upped their price objective on Spotify Technology from $680.00 to $895.00 and gave the company a "buy" rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, Spotify Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $715.77.

Spotify Technology Stock Performance

NYSE:SPOT traded up $5.95 on Thursday, reaching $680.41. The company's stock had a trading volume of 1,522,680 shares, compared to its average volume of 2,243,887. Spotify Technology has a 1-year low of $300.57 and a 1-year high of $785.00. The firm has a market cap of $139.29 billion, a PE ratio of 112.84, a PEG ratio of 1.80 and a beta of 1.68. The business's 50-day moving average price is $699.83 and its two-hundred day moving average price is $614.42.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.29 by ($1.16). Spotify Technology had a net margin of 7.19% and a return on equity of 22.53%. The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. The firm's revenue was up 15.2% on a year-over-year basis. As a group, sell-side analysts expect that Spotify Technology will post 10.3 EPS for the current year.

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.