Spotify Technology (NYSE:SPOT) Holdings Reduced by Blue Trust Inc.

Blue Trust Inc. decreased its position in Spotify Technology (NYSE:SPOTFree Report) by 11.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,081 shares of the company’s stock after selling 137 shares during the period. Blue Trust Inc.’s holdings in Spotify Technology were worth $595,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Adero Partners LLC grew its position 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 during the last quarter. North Star Investment Management Corp. lifted its stake in shares of 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 acquiring an additional 19 shares during the period. Auxano Advisors LLC lifted its stake in shares of 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 acquiring an additional 20 shares during the period. SRS Capital Advisors Inc. lifted its stake in shares of 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 acquiring an additional 25 shares during the period. Finally, Covenant Partners LLC lifted its stake in shares of 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 acquiring an additional 25 shares during the period. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of NYSE:SPOT opened at $707.64 on Friday. The company has a market cap of $144.86 billion, a PE ratio of 117.35, a price-to-earnings-growth ratio of 1.85 and a beta of 1.68. Spotify Technology has a 52 week low of $288.07 and a 52 week high of $728.80. The firm has a 50 day simple moving average of $646.29 and a 200 day simple moving average of $574.67.

Spotify Technology (NYSE:SPOTGet Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.13 EPS for the quarter, missing the consensus estimate of $2.29 by ($1.16). The firm had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.22 billion. Spotify Technology had a net margin of 7.19% and a return on equity of 22.53%. The firm’s revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.97 EPS. On average, equities analysts predict that Spotify Technology will post 10.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SPOT shares. Pivotal Research upped their price target on shares of Spotify Technology from $800.00 to $900.00 and gave the stock a “buy” rating in a research note on Tuesday, June 17th. Wells Fargo & Company upped their price target on shares of Spotify Technology from $690.00 to $740.00 and gave the stock an “overweight” rating in a research note on Friday, March 28th. FBN Securities started coverage on shares of Spotify Technology in a research note on Friday, March 28th. They issued a “sector perform” rating and a $645.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of Spotify Technology from $670.00 to $730.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 4th. Finally, Loop Capital upped their price target on shares of Spotify Technology from $435.00 to $550.00 and gave the stock a “hold” rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $630.28.

View Our Latest Stock Analysis on SPOT

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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Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

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