North Star Investment Management Corp. Acquires 19 Shares of Spotify Technology S.A. (NYSE:SPOT)

North Star Investment Management Corp. grew its stake in Spotify Technology S.A. (NYSE:SPOT) by 52.8% during the first quarter, HoldingsChannel.com reports. 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 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Mpwm Advisory Solutions LLC bought a new position in shares of Spotify Technology during the fourth quarter worth $26,000. Hillsdale Investment Management Inc. acquired a new stake in Spotify Technology during the 4th quarter worth $27,000. Copia Wealth Management acquired a new position in Spotify Technology in the fourth quarter valued at about $29,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Spotify Technology by 209.1% during the first 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, CVA Family Office LLC raised its position in shares of Spotify Technology by 35.1% during the first quarter. CVA Family Office LLC now owns 100 shares of the company’s stock worth $55,000 after purchasing an additional 26 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SPOT has been the subject of several research analyst reports. Robert W. Baird upped their price target on shares of Spotify Technology from $700.00 to $730.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. increased their target price on Spotify Technology from $670.00 to $730.00 and gave the stock an “overweight” rating in a report on Wednesday, June 4th. Cantor Fitzgerald dropped their price target on Spotify Technology from $600.00 to $520.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Barclays reduced their price objective on Spotify Technology from $710.00 to $650.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Finally, UBS Group reissued an “overweight” rating on shares of Spotify Technology in a research report on Friday, June 6th. Eight analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $614.59.

Spotify Technology Trading Up 0.7%

Shares of NYSE SPOT opened at $715.64 on Tuesday. The company has a market capitalization of $146.50 billion, a P/E ratio of 120.28 and a beta of 1.68. Spotify Technology S.A. has a 12 month low of $288.07 and a 12 month high of $723.70. The stock has a 50 day moving average of $634.00 and a 200-day moving average of $569.07.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $2.29 by ($1.16). The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period last year, the firm earned $0.97 earnings per share. Analysts predict that Spotify Technology S.A. will post 10.3 EPS for the current fiscal 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.