Vise Technologies Inc. Makes New $556,000 Investment in Spotify Technology S.A. (NYSE:SPOT)

Vise Technologies Inc. purchased a new stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,242 shares of the company's stock, valued at approximately $556,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pinkerton Retirement Specialists LLC bought a new stake in Spotify Technology during the 4th quarter worth approximately $257,000. McIlrath & Eck LLC boosted its position in shares of Spotify Technology by 3,440.0% during the fourth quarter. McIlrath & Eck LLC now owns 177 shares of the company's stock valued at $79,000 after buying an additional 172 shares during the last quarter. Continuum Advisory LLC grew its holdings in Spotify Technology by 11.5% during the fourth quarter. Continuum Advisory LLC now owns 349 shares of the company's stock worth $156,000 after buying an additional 36 shares in the last quarter. Connective Capital Management LLC purchased a new stake in Spotify Technology in the 4th quarter valued at $1,199,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in Spotify Technology in the 4th quarter valued at $26,000. Institutional investors own 84.09% of the company's stock.

Spotify Technology Price Performance

Shares of SPOT traded down $27.29 during mid-day trading on Thursday, reaching $636.67. 1,929,482 shares of the company's stock traded hands, compared to its average volume of 2,210,250. The stock's 50-day moving average is $598.28 and its two-hundred day moving average is $547.11. Spotify Technology S.A. has a 12 month low of $288.07 and a 12 month high of $671.24. The stock has a market cap of $130.33 billion, a P/E ratio of 107.00 and a beta of 1.72.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $1.13 EPS for the quarter, missing analysts' consensus estimates of $2.29 by ($1.16). Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The company had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.22 billion. During the same period last year, the business posted $0.97 earnings per share. The business's revenue was up 15.2% compared to the same quarter last year. Research analysts predict that Spotify Technology S.A. will post 10.3 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on SPOT shares. Cantor Fitzgerald dropped their target price on shares of Spotify Technology from $600.00 to $520.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Loop Capital increased their price target on Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a research report on Friday, May 2nd. Macquarie lifted their price target on Spotify Technology from $600.00 to $665.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Barclays reduced their price objective on Spotify Technology from $710.00 to $650.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Finally, Robert W. Baird lifted their target price on Spotify Technology from $700.00 to $730.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Eight analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $609.07.

Spotify Technology Company 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.