Tower View Wealth Management LLC purchased a new position in Spotify Technology (NYSE:SPOT - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,295 shares of the company's stock, valued at approximately $1,812,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Adero Partners LLC increased its stake in Spotify Technology by 0.7% in the 1st quarter. Adero Partners LLC now owns 2,635 shares of the company's stock worth $1,449,000 after purchasing an additional 19 shares in the last quarter. North Star Investment Management Corp. increased its stake in Spotify Technology by 52.8% in the 1st 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. Auxano Advisors LLC increased its stake in Spotify Technology by 2.5% in the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company's stock worth $370,000 after purchasing an additional 20 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in Spotify Technology by 4.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock worth $256,000 after purchasing an additional 25 shares in the last quarter. Finally, Covenant Partners LLC increased its stake in Spotify Technology by 2.5% in the 4th quarter. Covenant Partners LLC now owns 1,024 shares of the company's stock worth $458,000 after purchasing an additional 25 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.
Spotify Technology Price Performance
SPOT traded down $2.55 on Friday, hitting $707.64. The company had a trading volume of 1,528,129 shares, compared to its average volume of 2,209,787. The company's fifty day moving average price is $646.29 and its 200 day moving average price is $574.67. Spotify Technology has a 1-year low of $288.07 and a 1-year high of $728.80. The stock has a market cap of $144.86 billion, a price-to-earnings ratio of 117.35, a price-to-earnings-growth ratio of 1.85 and a beta of 1.68.
Spotify Technology (NYSE:SPOT - Get Free Report) last posted its 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). Spotify Technology had a return on equity of 22.53% and a net margin of 7.19%. The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same quarter last year, the firm posted $0.97 earnings per share. The firm's revenue for the quarter was up 15.2% compared to the same quarter last year. On average, sell-side analysts forecast that Spotify Technology will post 10.3 EPS for the current year.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the company. Macquarie lifted their price target on Spotify Technology from $600.00 to $665.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Rosenblatt Securities dropped their price target on Spotify Technology from $658.00 to $657.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. FBN Securities assumed coverage on Spotify Technology in a research note on Friday, March 28th. They issued a "sector perform" rating and a $645.00 price target on the stock. Sanford C. Bernstein raised Spotify Technology to a "strong-buy" rating in a research note on Tuesday, June 3rd. Finally, Wells Fargo & Company lifted their price target on Spotify Technology from $690.00 to $740.00 and gave the stock an "overweight" rating in a research note on Friday, March 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $630.28.
View Our Latest Report on Spotify Technology
About Spotify Technology
(
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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