1,617 Shares in Spotify Technology $SPOT Purchased by Qtron Investments LLC

Qtron Investments LLC bought a new position in shares of Spotify Technology (NYSE:SPOT) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,617 shares of the company’s stock, valued at approximately $889,000.

Several other hedge funds have also recently bought and sold shares of the company. Mpwm Advisory Solutions LLC purchased a new stake in Spotify Technology during the 4th quarter worth about $26,000. Tsfg LLC purchased a new stake in Spotify Technology during the 1st quarter worth about $28,000. Copia Wealth Management purchased a new stake in Spotify Technology during the 4th quarter worth about $29,000. Cornerstone Planning Group LLC increased 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 purchasing an additional 41 shares during the period. Finally, North Star Investment Management Corp. increased its holdings in Spotify Technology by 52.8% during 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 during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analysts Set New Price Targets

SPOT has been the topic of several recent research reports. DZ Bank upgraded Spotify Technology from a “sell” rating to a “hold” rating and set a $652.00 price target on the stock in a report on Wednesday, July 30th. Phillip Securities upgraded Spotify Technology from a “moderate sell” rating to a “hold” rating in a research note on Monday, August 4th. Wells Fargo & Company raised their price target on Spotify Technology from $740.00 to $750.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Benchmark dropped their price target on Spotify Technology from $840.00 to $800.00 and set a “buy” rating on the stock in a research note on Wednesday, July 30th. Finally, Cantor Fitzgerald raised their price target on Spotify Technology from $610.00 to $640.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 18th. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $720.07.

Spotify Technology Trading Down 0.6%

Shares of Spotify Technology stock opened at $728.06 on Tuesday. Spotify Technology has a twelve month low of $319.07 and a twelve month high of $785.00. The stock has a market capitalization of $149.04 billion, a P/E ratio of 176.71, a PEG ratio of 3.17 and a beta of 1.69. The business’s fifty day moving average price is $703.85 and its 200 day moving average price is $639.09.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($2.42). Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The firm had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the previous year, the business posted $1.33 EPS. Spotify Technology’s revenue was up 10.1% compared to the same quarter last year. As a group, sell-side analysts predict that Spotify Technology will post 10.3 EPS for the current year.

About Spotify Technology

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.