North Star Investment Management Corp. Has $30,000 Stock Position in Spotify Technology S.A. (NYSE:SPOT)

North Star Investment Management Corp. boosted its holdings in Spotify Technology S.A. (NYSE:SPOT) by 52.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55 shares of the company’s stock after buying an additional 19 shares during the period. North Star Investment Management Corp.’s holdings in Spotify Technology were worth $30,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. GQG Partners LLC bought a new position in Spotify Technology during the fourth quarter worth $800,725,000. Geode Capital Management LLC grew its position in Spotify Technology by 561.6% in the 4th quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company’s stock worth $659,841,000 after purchasing an additional 1,259,183 shares during the last quarter. Norges Bank bought a new position in shares of Spotify Technology during the 4th quarter worth about $396,028,000. Janus Henderson Group PLC raised its position in shares of Spotify Technology by 325.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,125,465 shares of the company’s stock valued at $503,316,000 after buying an additional 861,232 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Spotify Technology by 103.7% during the fourth quarter. Northern Trust Corp now owns 1,426,902 shares of the company’s stock valued at $638,367,000 after buying an additional 726,245 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Price Performance

SPOT stock opened at $715.64 on Tuesday. The company has a 50 day moving average price of $634.00 and a 200 day moving average price of $569.07. Spotify Technology S.A. has a fifty-two week low of $288.07 and a fifty-two week high of $723.70. The stock has a market capitalization of $146.50 billion, a PE ratio of 120.28 and a beta of 1.68.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share 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 firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter in the previous year, the firm earned $0.97 EPS. The company’s revenue was up 15.2% compared to the same quarter last year. As a group, equities analysts expect that Spotify Technology S.A. will post 10.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SPOT. Guggenheim restated a “buy” rating on shares of Spotify Technology in a research note on Friday, June 6th. Phillip Securities upgraded Spotify Technology to a “moderate sell” rating in a research note on Monday, May 5th. FBN Securities assumed coverage on shares of Spotify Technology in a research note on Friday, March 28th. They set a “sector perform” rating and a $645.00 price target on the stock. Canaccord Genuity Group reissued a “buy” rating on shares of Spotify Technology in a report on Friday, June 6th. Finally, Wolfe Research raised shares of Spotify Technology from a “peer perform” rating to an “outperform” rating and set a $660.00 price objective for the company in a report on Monday, April 21st. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $614.59.

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.