Spotify Technology (NYSE:SPOT) Shares Bought by American Century Companies Inc.

American Century Companies Inc. lifted its holdings in Spotify Technology (NYSE:SPOT) by 40.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 332,512 shares of the company’s stock after buying an additional 96,152 shares during the quarter. American Century Companies Inc.’s holdings in Spotify Technology were worth $182,892,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Mpwm Advisory Solutions LLC purchased a new position in shares of Spotify Technology in the fourth quarter valued at $26,000. Tsfg LLC purchased a new position in shares of Spotify Technology in the first quarter valued at $28,000. Copia Wealth Management purchased a new position in shares of Spotify Technology in the fourth quarter valued at $29,000. Cornerstone Planning Group LLC boosted its stake 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. boosted its stake in shares of Spotify Technology by 52.8% in the first 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 period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SPOT shares. Pivotal Research upped their target price on shares of Spotify Technology from $800.00 to $900.00 and gave the company a “buy” rating in a research note on Tuesday, June 17th. Oppenheimer upgraded shares of Spotify Technology from a “market perform” rating to an “outperform” rating and set a $800.00 price objective on the stock in a research note on Thursday, July 24th. Bank of America increased their price objective on shares of Spotify Technology from $700.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, June 26th. Robert W. Baird increased their price objective on shares of Spotify Technology from $700.00 to $730.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Finally, Wells Fargo & Company increased their price objective on shares of Spotify Technology from $740.00 to $750.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Ten analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $718.90.

Spotify Technology Stock Up 4.8%

Shares of NYSE:SPOT opened at $731.74 on Friday. The company has a market cap of $149.79 billion, a PE ratio of 177.61, a P/E/G ratio of 3.02 and a beta of 1.69. The company’s 50-day moving average price is $703.27 and its 200 day moving average price is $636.56. 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 issued its quarterly earnings data 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). The firm had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.33 earnings per share. As a group, equities analysts anticipate that Spotify Technology will post 10.3 EPS for the current 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.