Yousif Capital Management LLC boosted its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 5.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,223 shares of the company's stock after purchasing an additional 365 shares during the quarter. Yousif Capital Management LLC's holdings in Spotify Technology were worth $3,973,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in SPOT. Thrivent Financial for Lutherans boosted its stake in Spotify Technology by 566.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 7,980 shares of the company's stock valued at $3,541,000 after purchasing an additional 6,782 shares during the last quarter. Marks Group Wealth Management Inc bought a new position in Spotify Technology during the 4th quarter valued at $535,000. Steward Partners Investment Advisory LLC boosted its holdings in Spotify Technology by 4.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,072 shares of the company's stock worth $927,000 after acquiring an additional 85 shares during the last quarter. WealthPlan Investment Management LLC bought a new stake in shares of Spotify Technology in the 4th quarter worth $217,000. Finally, Amundi raised its holdings in shares of Spotify Technology by 194.2% in the fourth quarter. Amundi now owns 750,030 shares of the company's stock valued at $359,812,000 after purchasing an additional 495,087 shares during the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on SPOT shares. Robert W. Baird boosted their price target on shares of Spotify Technology from $700.00 to $730.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. upped their target price on Spotify Technology from $670.00 to $730.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Cantor Fitzgerald dropped their price target on Spotify Technology from $600.00 to $520.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Rosenblatt Securities cut their price objective on Spotify Technology from $658.00 to $657.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Finally, Sanford C. Bernstein raised Spotify Technology to a "strong-buy" rating in a research report on Tuesday, June 3rd. Eight research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Spotify Technology currently has a consensus rating of "Moderate Buy" and an average price target of $614.59.
Read Our Latest Research Report on Spotify Technology
Spotify Technology Stock Performance
Spotify Technology stock traded up $4.92 during midday trading on Monday, reaching $715.77. 931,774 shares of the stock were exchanged, compared to its average volume of 2,204,189. Spotify Technology S.A. has a 52 week low of $288.07 and a 52 week high of $723.22. The firm has a market cap of $146.52 billion, a PE ratio of 120.27 and a beta of 1.68. The company's fifty day moving average is $629.98 and its 200-day moving average is $567.40.
Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly 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). The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. Spotify Technology's quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 EPS. On average, sell-side analysts anticipate that Spotify Technology S.A. will post 10.3 earnings per share for the current fiscal year.
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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