First Affirmative Financial Network Buys Shares of 487 Spotify Technology S.A. (NYSE:SPOT)

First Affirmative Financial Network bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the first quarter, HoldingsChannel reports. The fund bought 487 shares of the company’s stock, valued at approximately $268,000.

A number of other large investors have also recently bought and sold shares of SPOT. Mpwm Advisory Solutions LLC acquired a new stake in Spotify Technology during the 4th quarter valued at $26,000. Hillsdale Investment Management Inc. purchased a new position in shares of Spotify Technology during the 4th quarter worth $27,000. Copia Wealth Management purchased a new position in shares of Spotify Technology during the 4th quarter worth $29,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Spotify Technology by 209.1% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 68 shares of the company’s stock worth $37,000 after purchasing an additional 46 shares during the period. Finally, Quent Capital LLC lifted its stake in shares of Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after purchasing an additional 57 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Trading Down 0.1%

Shares of NYSE SPOT opened at $712.24 on Friday. Spotify Technology S.A. has a 12-month low of $288.07 and a 12-month high of $717.87. The company has a market cap of $145.80 billion, a P/E ratio of 119.70 and a beta of 1.68. The stock has a fifty day moving average price of $612.90 and a 200 day moving average price of $558.90.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($1.16). Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the prior year, the company posted $0.97 earnings per share. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. On average, sell-side analysts forecast that Spotify Technology S.A. will post 10.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SPOT. Guggenheim reissued a “buy” rating on shares of Spotify Technology in a research note on Friday. Loop Capital increased their price target on Spotify Technology from $435.00 to $550.00 and gave the stock a “hold” rating in a research note on Friday, May 2nd. Evercore ISI reduced their price target on Spotify Technology from $700.00 to $650.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Macquarie increased their price target on Spotify Technology from $600.00 to $665.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Finally, China Renaissance began coverage on Spotify Technology in a research note on Wednesday, March 26th. They set a “buy” rating and a $740.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $611.14.

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.