AlTi Global Inc. lifted its stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 28.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,798 shares of the company's stock after acquiring an additional 399 shares during the quarter. AlTi Global Inc.'s holdings in Spotify Technology were worth $804,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Hillsdale Investment Management Inc. acquired a new position in Spotify Technology during the fourth quarter valued at $27,000. Quent Capital LLC grew its position in Spotify Technology by 135.7% during the fourth quarter. Quent Capital LLC now owns 99 shares of the company's stock valued at $44,000 after purchasing an additional 57 shares in the last quarter. Noble Wealth Management PBC acquired a new position in Spotify Technology in the 4th quarter valued at approximately $52,000. Larson Financial Group LLC increased its stake in Spotify Technology by 48.5% in the 4th quarter. Larson Financial Group LLC now owns 144 shares of the company's stock valued at $64,000 after buying an additional 47 shares during the period. Finally, Versant Capital Management Inc lifted its position in Spotify Technology by 89.9% in the 4th quarter. Versant Capital Management Inc now owns 150 shares of the company's stock worth $67,000 after buying an additional 71 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts recently issued reports on the company. UBS Group cut their price objective on Spotify Technology from $690.00 to $680.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Phillip Securities raised Spotify Technology to a "moderate sell" rating in a research note on Monday. FBN Securities assumed coverage on shares of Spotify Technology in a research report on Friday, March 28th. They set a "sector perform" rating and a $645.00 price objective on the stock. Redburn Atlantic initiated coverage on shares of Spotify Technology in a research note on Tuesday, March 11th. They issued a "neutral" rating and a $545.00 target price for the company. Finally, China Renaissance assumed coverage on shares of Spotify Technology in a research note on Wednesday, March 26th. They set a "buy" rating and a $740.00 price target on the stock. Eight 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 a consensus price target of $604.76.
View Our Latest Stock Report on Spotify Technology
Spotify Technology Stock Performance
NYSE SPOT traded down $5.26 during trading on Friday, reaching $650.00. 704,468 shares of the company traded hands, compared to its average volume of 2,160,539. Spotify Technology S.A. has a 1-year low of $286.21 and a 1-year high of $663.55. The company has a market cap of $133.06 billion, a price-to-earnings ratio of 109.24 and a beta of 1.72. The stock's 50 day moving average price is $574.12 and its two-hundred day moving average price is $522.09.
Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($1.16). Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the prior year, the company earned $0.97 earnings per share. The business's revenue was up 15.2% compared to the same quarter last year. Equities research analysts expect that Spotify Technology S.A. will post 10.3 EPS for the current fiscal year.
Spotify Technology Company Profile
(
Free Report)
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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