Baird Financial Group Inc. boosted its stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,668 shares of the company's stock after purchasing an additional 404 shares during the period. Baird Financial Group Inc.'s holdings in Spotify Technology were worth $11,931,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of SPOT. Hillsdale Investment Management Inc. acquired a new position in shares of Spotify Technology in the 4th quarter valued at $27,000. Quent Capital LLC raised its stake in shares of Spotify Technology by 135.7% in the fourth quarter. Quent Capital LLC now owns 99 shares of the company's stock worth $44,000 after purchasing an additional 57 shares during the last quarter. Noble Wealth Management PBC acquired a new stake in shares of Spotify Technology during the fourth quarter worth about $52,000. Strategic Financial Concepts LLC acquired a new stake in shares of Spotify Technology during the fourth quarter worth about $56,000. Finally, Larson Financial Group LLC boosted its position in Spotify Technology by 48.5% in the fourth 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 last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.
Spotify Technology Stock Performance
Shares of Spotify Technology stock opened at $657.35 on Thursday. The stock has a 50 day moving average of $572.96 and a 200 day moving average of $520.19. The firm has a market capitalization of $134.56 billion, a price-to-earnings ratio of 110.48 and a beta of 1.72. Spotify Technology S.A. has a fifty-two week low of $286.21 and a fifty-two week high of $667.54.
Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 earnings per share (EPS) 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 in the previous year, the business posted $0.97 earnings per share. The firm's revenue for the quarter was up 15.2% compared to the same quarter last year. Analysts forecast that Spotify Technology S.A. will post 10.3 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Barclays lowered their price target on shares of Spotify Technology from $710.00 to $650.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Loop Capital lifted their price objective on Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. China Renaissance started coverage on Spotify Technology in a research note on Wednesday, March 26th. They issued a "buy" rating and a $740.00 target price on the stock. Finally, Phillip Securities upgraded Spotify Technology to a "moderate sell" rating in a research report on Monday. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, Spotify Technology currently has an average rating of "Moderate Buy" and a consensus price target of $604.76.
Get Our Latest Stock Analysis on Spotify Technology
About Spotify Technology
(
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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