546 Shares in Spotify Technology (NYSE:SPOT) Bought by NorthRock Partners LLC

NorthRock Partners LLC acquired a new stake in shares of Spotify Technology (NYSE:SPOT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 546 shares of the company’s stock, valued at approximately $300,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mpwm Advisory Solutions LLC bought a new stake in Spotify Technology during the 4th quarter valued at about $26,000. Tsfg LLC purchased a new position in shares of Spotify Technology during the first quarter valued at approximately $28,000. Copia Wealth Management purchased a new stake in Spotify Technology in the fourth quarter worth approximately $29,000. Cornerstone Planning Group LLC raised its stake in Spotify Technology by 512.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 41 shares during the last quarter. Finally, North Star Investment Management Corp. lifted its holdings in shares of Spotify Technology by 52.8% during the 1st quarter. North Star Investment Management Corp. now owns 55 shares of the company’s stock valued at $30,000 after buying an additional 19 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SPOT has been the subject of several recent research reports. Oppenheimer upgraded shares of Spotify Technology from a “market perform” rating to an “outperform” rating and set a $800.00 target price for the company in a research report on Thursday, July 24th. KeyCorp reduced their price target on Spotify Technology from $860.00 to $830.00 and set an “overweight” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on Spotify Technology from $730.00 to $780.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. DZ Bank upgraded shares of Spotify Technology from a “sell” rating to a “hold” rating and set a $652.00 target price on the stock in a research note on Wednesday. Finally, Evercore ISI raised their price objective on shares of Spotify Technology from $650.00 to $750.00 and gave the company an “outperform” rating in a research report on Monday, June 16th. Nine analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $718.90.

Spotify Technology Price Performance

NYSE:SPOT opened at $627.15 on Friday. The firm has a market capitalization of $128.38 billion, a P/E ratio of 152.22, a PEG ratio of 2.56 and a beta of 1.70. The company’s fifty day moving average price is $700.71 and its 200-day moving average price is $623.58. Spotify Technology has a 1-year low of $300.57 and a 1-year high of $785.00.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 EPS for the quarter, missing the consensus estimate of $2.29 by ($1.16). The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.22 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.97 EPS. Equities analysts anticipate that Spotify Technology will post 10.3 EPS for the current fiscal year.

Spotify Technology 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.