PFG Investments LLC Makes New $418,000 Investment in Spotify Technology S.A. (NYSE:SPOT)

PFG Investments LLC purchased a new position in Spotify Technology S.A. (NYSE:SPOT) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,583 shares of the company’s stock, valued at approximately $418,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Horizon Advisors Inc. grew its stake in Spotify Technology by 195.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock worth $27,000 after buying an additional 117 shares in the last quarter. Pinnacle Bancorp Inc. bought a new stake in shares of Spotify Technology in the 4th quarter worth approximately $29,000. GAMMA Investing LLC bought a new stake in shares of Spotify Technology in the 4th quarter worth approximately $32,000. Lindbrook Capital LLC lifted its holdings in shares of Spotify Technology by 32.3% in the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock worth $39,000 after acquiring an additional 50 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Spotify Technology in the 1st quarter worth approximately $40,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

SPOT stock traded down $5.78 during trading on Tuesday, hitting $280.46. 1,255,117 shares of the stock traded hands, compared to its average volume of 2,189,836. Spotify Technology S.A. has a 1 year low of $129.23 and a 1 year high of $319.30. The firm’s 50 day moving average is $273.02 and its two-hundred day moving average is $221.32. The stock has a market cap of $55.62 billion, a price-to-earnings ratio of -418.59 and a beta of 1.63.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.63 by $0.42. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the prior year, the firm posted ($1.24) EPS. As a group, analysts anticipate that Spotify Technology S.A. will post 4.49 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SPOT shares. KeyCorp boosted their price objective on shares of Spotify Technology from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Macquarie boosted their price objective on shares of Spotify Technology from $300.00 to $330.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Barclays boosted their price objective on shares of Spotify Technology from $335.00 to $350.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Pivotal Research upped their price target on shares of Spotify Technology from $390.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Finally, Benchmark upped their price target on shares of Spotify Technology from $325.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Eight investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $301.81.

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.