Spotify Technology (NYSE:SPOT) Shares Purchased by Trivium Point Advisory LLC

Trivium Point Advisory LLC raised its holdings in Spotify Technology (NYSE:SPOT) by 0.0% in the first quarter, Holdings Channel.com reports. The fund owned 98,893 shares of the company’s stock after acquiring an additional 42 shares during the quarter. Spotify Technology makes up about 6.8% of Trivium Point Advisory LLC’s investment portfolio, making the stock its largest position. Trivium Point Advisory LLC’s holdings in Spotify Technology were worth $54,394,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Mpwm Advisory Solutions LLC bought a new position in shares of Spotify Technology in the fourth quarter valued at approximately $26,000. Tsfg LLC bought a new position in shares of Spotify Technology in the first quarter valued at approximately $28,000. Copia Wealth Management bought a new position in shares of Spotify Technology in the fourth quarter valued at approximately $29,000. Cornerstone Planning Group LLC raised its position in shares of Spotify Technology by 512.5% in the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company’s stock valued at $29,000 after purchasing an additional 41 shares during the period. Finally, North Star Investment Management Corp. raised its stake in 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 purchasing an additional 19 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SPOT. Benchmark cut their target price on shares of Spotify Technology from $840.00 to $800.00 and set a “buy” rating for the company in a research note on Wednesday, July 30th. Wolfe Research upgraded shares of Spotify Technology from a “peer perform” rating to an “outperform” rating and set a $660.00 target price for the company in a research note on Monday, April 21st. Barclays cut their target price on shares of Spotify Technology from $800.00 to $750.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Macquarie upped their target price on shares of Spotify Technology from $600.00 to $665.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Finally, Guggenheim upped their target price on shares of Spotify Technology from $725.00 to $840.00 and gave the company a “buy” rating in a research note on Wednesday, June 25th. Ten analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and an average price target of $718.90.

Spotify Technology Stock Performance

SPOT opened at $695.34 on Thursday. The firm’s 50-day simple moving average is $703.17 and its 200-day simple moving average is $633.91. Spotify Technology has a twelve month low of $319.07 and a twelve month high of $785.00. The firm has a market cap of $142.34 billion, a price-to-earnings ratio of 168.77, a PEG ratio of 2.98 and a beta of 1.69.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of $2.00 by ($2.42). Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%. The firm had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the previous year, the company posted $1.33 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Spotify Technology will post 10.3 EPS for the current fiscal year.

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.