Dagco Inc. Buys Shares of 90 Spotify Technology (NYSE:SPOT)

Dagco Inc. bought a new stake in shares of Spotify Technology (NYSE:SPOT) in the first quarter, Holdings Channel reports. The fund bought 90 shares of the company’s stock, valued at approximately $50,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Hartford Investment Management Co. increased its stake in shares of Spotify Technology by 1.1% during the first quarter. Hartford Investment Management Co. now owns 1,449 shares of the company’s stock valued at $797,000 after purchasing an additional 16 shares in the last quarter. Citizens Financial Group Inc. RI increased its stake in shares of Spotify Technology by 3.7% during the first quarter. Citizens Financial Group Inc. RI now owns 477 shares of the company’s stock valued at $262,000 after purchasing an additional 17 shares in the last quarter. HM Payson & Co. grew its holdings in shares of Spotify Technology by 39.1% during the first quarter. HM Payson & Co. now owns 64 shares of the company’s stock valued at $35,000 after buying an additional 18 shares during the last quarter. North Star Investment Management Corp. increased its position in shares of Spotify Technology by 52.8% during the first quarter. North Star Investment Management Corp. now owns 55 shares of the company’s stock valued at $30,000 after acquiring an additional 19 shares in the last quarter. Finally, Adero Partners LLC increased its position in shares of Spotify Technology by 0.7% during the first quarter. Adero Partners LLC now owns 2,635 shares of the company’s stock valued at $1,449,000 after acquiring an additional 19 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of SPOT opened at $695.34 on Thursday. The stock has a market capitalization of $142.34 billion, a PE ratio of 168.77, a PEG ratio of 2.98 and a beta of 1.69. The company has a 50 day moving average price of $703.17 and a 200-day moving average price of $633.91. Spotify Technology has a fifty-two week low of $319.07 and a fifty-two week high of $785.00.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of $2.00 by ($2.42). The firm had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.33 EPS. Equities research analysts forecast that Spotify Technology will post 10.3 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SPOT shares. Sanford C. Bernstein raised their price target on shares of Spotify Technology from $825.00 to $840.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Pivotal Research raised their price target on shares of Spotify Technology from $800.00 to $900.00 and gave the company a “buy” rating in a research report on Tuesday, June 17th. Barclays reduced their price target on shares of Spotify Technology from $800.00 to $750.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Loop Capital raised their price target on shares of Spotify Technology from $435.00 to $550.00 and gave the company a “hold” rating in a research report on Friday, May 2nd. Finally, KeyCorp reduced their price target on shares of Spotify Technology from $860.00 to $830.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Ten equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average target price of $718.90.

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.