Nvwm LLC Purchases Shares of 4,227 Spotify Technology S.A. (NYSE:SPOT)

Nvwm LLC purchased a new stake in Spotify Technology S.A. (NYSE:SPOT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,227 shares of the company’s stock, valued at approximately $1,116,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SPOT. Larson Financial Group LLC grew its holdings in Spotify Technology by 86.0% during the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after purchasing an additional 43 shares during the period. FinTrust Capital Advisors LLC grew its holdings in Spotify Technology by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock worth $33,000 after purchasing an additional 100 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of Spotify Technology during the first quarter worth approximately $40,000. Pinnacle Bancorp Inc. bought a new stake in shares of Spotify Technology during the fourth quarter worth approximately $29,000. Finally, GAMMA Investing LLC bought a new stake in shares of Spotify Technology during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SPOT shares. Deutsche Bank Aktiengesellschaft boosted their price objective on Spotify Technology from $260.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Redburn Atlantic restated a “sell” rating and set a $230.00 price objective on shares of Spotify Technology in a report on Wednesday. Benchmark boosted their price objective on Spotify Technology from $325.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Wolfe Research began coverage on shares of Spotify Technology in a research report on Friday. They issued an “outperform” rating and a $390.00 price target for the company. Finally, Loop Capital increased their price target on Spotify Technology from $165.00 to $250.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $323.22.

Spotify Technology Stock Performance

Spotify Technology stock traded up $1.29 during mid-day trading on Friday, reaching $302.27. The company’s stock had a trading volume of 1,244,537 shares, compared to its average volume of 1,447,657. Spotify Technology S.A. has a 12-month low of $129.23 and a 12-month high of $331.08. The company has a market capitalization of $57.49 billion, a P/E ratio of -451.14, a PEG ratio of 0.79 and a beta of 1.59. The firm’s fifty day moving average price is $308.47 and its two-hundred day moving average price is $269.18.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.42. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.87 billion. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. During the same period in the previous year, the business earned ($1.24) EPS. On average, research analysts predict that Spotify Technology S.A. will post 4.98 EPS for the current fiscal 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.