Versant Capital Management Inc Purchases 505 Shares of Spotify Technology S.A. (NYSE:SPOT)

Versant Capital Management Inc raised its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 336.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 655 shares of the company's stock after purchasing an additional 505 shares during the quarter. Versant Capital Management Inc's holdings in Spotify Technology were worth $360,000 as of its most recent SEC filing.

• Spotify Stock's Rally Still Has Legs To Run Higher

A number of other large investors have also made changes to their positions in the company. Central Pacific Bank Trust Division grew its stake in shares of Spotify Technology by 34.2% during the 1st quarter. Central Pacific Bank Trust Division now owns 2,869 shares of the company's stock valued at $1,578,000 after purchasing an additional 731 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in shares of Spotify Technology by 16.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 670 shares of the company's stock valued at $369,000 after purchasing an additional 96 shares during the period. Prostatis Group LLC bought a new stake in shares of Spotify Technology during the 4th quarter valued at about $213,000. 111 Capital bought a new stake in shares of Spotify Technology during the 4th quarter valued at about $545,000. Finally, Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of Spotify Technology during the 4th quarter valued at about $633,000. 84.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SPOT shares. Barclays cut their price target on Spotify Technology from $710.00 to $650.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. The Goldman Sachs Group boosted their price objective on Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Benchmark boosted their price objective on Spotify Technology from $600.00 to $720.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Guggenheim boosted their price objective on Spotify Technology from $675.00 to $725.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Finally, Phillip Securities upgraded Spotify Technology to a "moderate sell" rating in a research note on Monday, May 5th. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $609.07.

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Get Our Latest Research Report on SPOT

Spotify Technology Stock Performance

NYSE SPOT opened at $667.14 on Friday. The company has a market capitalization of $136.57 billion, a P/E ratio of 112.12 and a beta of 1.72. Spotify Technology S.A. has a one year low of $288.07 and a one year high of $671.24. The stock has a 50 day moving average price of $599.93 and a 200-day moving average price of $550.38.

• Why Spotify Stock Still Has Room to Run in 2025

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $1.13 EPS for the quarter, missing analysts' consensus estimates of $2.29 by ($1.16). Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter in the prior year, the company posted $0.97 earnings per share. The firm's revenue was up 15.2% compared to the same quarter last year. As a group, equities analysts predict that Spotify Technology S.A. will post 10.3 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.

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