154,508 Shares in Spotify Technology S.A. (NYSE:SPOT) Purchased by Banque Transatlantique SA

Banque Transatlantique SA purchased a new stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 154,508 shares of the company's stock, valued at approximately $69,124,000. Spotify Technology accounts for 1.6% of Banque Transatlantique SA's holdings, making the stock its 16th biggest position. Banque Transatlantique SA owned approximately 0.08% of Spotify Technology at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hillsdale Investment Management Inc. acquired a new position in Spotify Technology during the fourth quarter worth approximately $27,000. Quent Capital LLC raised its position in shares of Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock worth $44,000 after buying an additional 57 shares during the period. Noble Wealth Management PBC acquired a new position in Spotify Technology in the fourth quarter valued at $52,000. Strategic Financial Concepts LLC purchased a new stake in Spotify Technology during the fourth quarter valued at about $56,000. Finally, Larson Financial Group LLC increased its stake in Spotify Technology by 48.5% during the fourth quarter. Larson Financial Group LLC now owns 144 shares of the company's stock worth $64,000 after acquiring an additional 47 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Trading Up 6.7 %

Shares of SPOT opened at $642.77 on Friday. The firm has a market cap of $131.58 billion, a price-to-earnings ratio of 108.03 and a beta of 1.72. Spotify Technology S.A. has a 52 week low of $286.21 and a 52 week high of $653.32. The stock has a 50 day moving average of $570.40 and a 200-day moving average of $515.58.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share for the quarter, missing analysts' consensus estimates of $2.29 by ($1.16). Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period last year, the company posted $0.97 earnings per share. The firm's revenue for the quarter was up 15.2% on a year-over-year basis. On average, sell-side analysts predict that Spotify Technology S.A. will post 10.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SPOT. Morgan Stanley lifted their price objective on Spotify Technology from $550.00 to $670.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. China Renaissance started coverage on shares of Spotify Technology in a research report on Wednesday, March 26th. They set a "buy" rating and a $740.00 price target on the stock. Canaccord Genuity Group increased their price objective on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. Guggenheim restated a "buy" rating and set a $675.00 target price on shares of Spotify Technology in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. increased their price target on Spotify Technology from $640.00 to $670.00 and gave the company an "overweight" rating in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, Spotify Technology presently has an average rating of "Moderate Buy" and an average target price of $604.76.

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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