Spotify Technology (NYSE:SPOT) Stock Holdings Lifted by Steadview Capital Management LLC

Steadview Capital Management LLC lifted its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 32.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 62,100 shares of the company's stock after acquiring an additional 15,250 shares during the period. Spotify Technology accounts for about 7.4% of Steadview Capital Management LLC's portfolio, making the stock its 7th largest position. Steadview Capital Management LLC's holdings in Spotify Technology were worth $34,157,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Mpwm Advisory Solutions LLC acquired a new stake in shares of Spotify Technology in the 4th quarter worth about $26,000. Hillsdale Investment Management Inc. purchased a new position in Spotify Technology during the 4th quarter worth $27,000. Tsfg LLC purchased a new position in Spotify Technology during the 1st quarter worth $28,000. Copia Wealth Management purchased a new position in Spotify Technology during the 4th quarter worth $29,000. Finally, Cornerstone Planning Group LLC boosted its holdings in Spotify Technology by 512.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock worth $29,000 after acquiring an additional 41 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on SPOT. Macquarie increased their price target on Spotify Technology from $600.00 to $665.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Bank of America lifted their price objective on Spotify Technology from $700.00 to $900.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Barclays increased their target price on Spotify Technology from $650.00 to $800.00 and gave the stock an "overweight" rating in a research report on Wednesday. Wells Fargo & Company increased their target price on Spotify Technology from $690.00 to $740.00 and gave the stock an "overweight" rating in a research report on Friday, March 28th. Finally, Morgan Stanley boosted their price objective on shares of Spotify Technology from $700.00 to $850.00 and gave the company an "overweight" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $690.77.

Spotify Technology Trading Down 0.4%

Spotify Technology stock traded down $2.66 on Friday, hitting $707.29. 861,161 shares of the stock traded hands, compared to its average volume of 2,216,903. The firm has a market cap of $144.79 billion, a P/E ratio of 117.35, a price-to-earnings-growth ratio of 1.90 and a beta of 1.68. The business's fifty day simple moving average is $688.46 and its 200 day simple moving average is $599.23. Spotify Technology has a 1 year low of $288.07 and a 1 year high of $785.00.

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 the consensus estimate of $2.29 by ($1.16). The company had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.22 billion. Spotify Technology had a return on equity of 22.53% and a net margin of 7.19%. The business's quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.97 EPS. As a group, analysts predict that Spotify Technology will post 10.3 earnings per share 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.